Wellington Management Group LLP Has $8.66 Billion Stock Position in Alphabet Inc. $GOOGL

Key Points

• Wellington Management Group LLP reduced its stake in Alphabet Inc. by 15.2% in Q1, now holding approximately $8.66 billion worth of shares.
• Alphabet reported an earnings per share (EPS) of $2.31, exceeding analyst expectations, and has announced a quarterly dividend of $0.21 per share.
• Institutional ownership of Alphabet stands at 40.03%, with various institutions increasing or acquiring new positions in the company during the last quarter.

Wellington Management Group LLP cut its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 15.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,000,567 shares of the information services provider's stock after selling 10,049,568 shares during the period. Alphabet comprises approximately 1.7% of Wellington Management Group LLP's portfolio, making the stock its 8th biggest holding. Wellington Management Group LLP owned about 0.46% of Alphabet worth $8,659,928,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of GOOGL. Guardian Wealth Management Inc. grew its holdings in shares of Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock valued at $26,000 after acquiring an additional 119 shares in the last quarter. von Borstel & Associates Inc. purchased a new position in Alphabet in the first quarter valued at approximately $28,000. IMA Advisory Services Inc. purchased a new position in Alphabet in the first quarter valued at approximately $28,000. NBZ Investment Advisors LLC lifted its stake in Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock valued at $30,000 after purchasing an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new position in Alphabet in the first quarter valued at approximately $39,000. 40.03% of the stock is owned by institutional investors.

Alphabet Trading Up 3.2%

Shares of GOOGL stock opened at $206.09 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $208.54. The company has a market capitalization of $2.49 trillion, a PE ratio of 21.95, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The business's fifty day moving average is $186.81 and its 200 day moving average is $173.37.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company had revenue of $96,428,000 billion for the quarter, compared to the consensus estimate of $93.60 billion. On average, equities research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's dividend payout ratio (DPR) is 8.95%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on GOOGL shares. Cantor Fitzgerald upped their price objective on Alphabet from $196.00 to $201.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Westpark Capital upped their price objective on Alphabet from $210.00 to $220.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. BNP Paribas downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. Morgan Stanley upped their price objective on Alphabet from $185.00 to $205.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. Finally, Piper Sandler upped their price objective on Alphabet from $195.00 to $220.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $211.53.

Insider Buying and Selling

In other news, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the sale, the director directly owned 243,400 shares in the company, valued at approximately $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 1,000 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $200.00, for a total transaction of $200,000.00. Following the sale, the director owned 6,916 shares of the company's stock, valued at approximately $1,383,200. This represents a 12.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 254,719 shares of company stock valued at $47,223,172 over the last three months. 11.64% of the stock is owned by corporate insiders.

Alphabet Company Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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