Whitener Capital Management Inc. lowered its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 95,176 shares of the information services provider's stock after selling 1,679 shares during the period. Alphabet accounts for about 4.4% of Whitener Capital Management Inc.'s holdings, making the stock its 7th biggest position. Whitener Capital Management Inc.'s holdings in Alphabet were worth $16,773,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of GOOGL. Vanguard Group Inc. lifted its stake in shares of Alphabet by 2.9% in the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider's stock valued at $78,839,544,000 after buying an additional 14,307,345 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Alphabet by 11.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider's stock valued at $6,783,364,000 after buying an additional 4,473,901 shares in the last quarter. Invesco Ltd. lifted its position in Alphabet by 1.4% in the 1st quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider's stock valued at $6,749,806,000 after acquiring an additional 593,345 shares in the last quarter. Deutsche Bank AG lifted its position in Alphabet by 1.9% in the 1st quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider's stock valued at $6,153,481,000 after acquiring an additional 727,335 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Alphabet by 0.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider's stock valued at $5,962,389,000 after acquiring an additional 104,859 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of research analysts have recently weighed in on GOOGL shares. Morgan Stanley raised their target price on Alphabet from $185.00 to $205.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Susquehanna lifted their price target on shares of Alphabet from $220.00 to $225.00 and gave the stock a "positive" rating in a report on Thursday, July 24th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Alphabet in a research report on Wednesday, September 3rd. Royal Bank Of Canada increased their target price on Alphabet from $220.00 to $260.00 and gave the company an "outperform" rating in a research note on Wednesday, September 3rd. Finally, JMP Securities increased their price target on shares of Alphabet from $250.00 to $290.00 and gave the company a "market outperform" rating in a research report on Friday, September 19th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $231.31.
View Our Latest Stock Analysis on GOOGL
Alphabet Stock Performance
Shares of GOOGL stock opened at $251.66 on Wednesday. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $256.00. The stock has a market cap of $3.04 trillion, a PE ratio of 26.80, a price-to-earnings-growth ratio of 1.70 and a beta of 1.01. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The company's fifty day moving average price is $212.18 and its 200-day moving average price is $181.45.
Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. On average, equities analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.
Alphabet Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet's payout ratio is 8.95%.
Insider Activity
In other news, CAO Amie Thuener O'toole sold 2,778 shares of the company's stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the transaction, the chief accounting officer owned 17,293 shares in the company, valued at approximately $4,236,785. This represents a 13.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the company's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director directly owned 243,400 shares in the company, valued at $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 258,088 shares of company stock worth $52,405,304. 11.55% of the stock is currently owned by company insiders.
About Alphabet
(
Free Report)
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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