Coronation Fund Managers Ltd. Has $5.66 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

Coronation Fund Managers Ltd. lessened its position in Alphabet Inc. (NASDAQ:GOOGFree Report) by 36.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 37,191 shares of the information services provider’s stock after selling 21,713 shares during the period. Coronation Fund Managers Ltd.’s holdings in Alphabet were worth $5,663,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Hohimer Wealth Management LLC bought a new position in Alphabet in the third quarter valued at approximately $311,000. Allen Mooney & Barnes Investment Advisors LLC purchased a new position in shares of Alphabet in the third quarter worth $349,000. GUNN & Co INVESTMENT MANAGEMENT INC. purchased a new stake in Alphabet in the 3rd quarter valued at about $5,980,000. Trust Co. of Vermont boosted its stake in shares of Alphabet by 3.0% during the third quarter. Trust Co. of Vermont now owns 363,136 shares of the information services provider’s stock valued at $47,879,000 after purchasing an additional 10,486 shares in the last quarter. Finally, IMA Wealth Inc. lifted its position in shares of Alphabet by 4,971.6% during the third quarter. IMA Wealth Inc. now owns 24,445 shares of the information services provider’s stock valued at $3,223,000 after buying an additional 23,963 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Up 1.2 %

Shares of GOOG stock traded up $2.22 during mid-day trading on Wednesday, reaching $192.66. 11,625,548 shares of the company’s stock traded hands, compared to its average volume of 20,785,617. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The company’s 50-day moving average price is $177.92 and its 200-day moving average price is $158.32. Alphabet Inc. has a 12 month low of $115.83 and a 12 month high of $193.31. The company has a market cap of $2.38 trillion, a P/E ratio of 29.59, a P/E/G ratio of 1.43 and a beta of 1.05.

Alphabet (NASDAQ:GOOGGet Free Report) last posted its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.38. The firm had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business’s quarterly revenue was up 15.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.17 EPS. On average, equities analysts expect that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a — dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, June 10th. Alphabet’s dividend payout ratio is presently 12.27%.

Analysts Set New Price Targets

GOOG has been the topic of several recent analyst reports. Oppenheimer increased their target price on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Stifel Nicolaus upped their price objective on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Rosenblatt Securities downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a research report on Friday, June 28th. TD Cowen upped their price target on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Morgan Stanley reiterated an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $174.38.

Read Our Latest Stock Analysis on GOOG

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total value of $4,201,650.00. Following the sale, the chief executive officer now directly owns 2,227,385 shares of the company’s stock, valued at approximately $415,941,874.90. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total transaction of $4,201,650.00. Following the transaction, the chief executive officer now owns 2,227,385 shares of the company’s stock, valued at approximately $415,941,874.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the completion of the sale, the senior vice president now owns 9 shares of the company’s stock, valued at approximately $1,655.91. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 146,288 shares of company stock worth $25,345,053. 12.99% of the stock is owned by corporate 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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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