Alphabet Inc. (NASDAQ:GOOG) is Deutsche Bank AG’s 7th Largest Position

Deutsche Bank AG lessened its stake in Alphabet Inc. (NASDAQ:GOOG) by 8.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,246,788 shares of the information services provider’s stock after selling 1,944,034 shares during the period. Alphabet comprises about 1.5% of Deutsche Bank AG’s investment portfolio, making the stock its 7th largest position. Deutsche Bank AG owned approximately 0.17% of Alphabet worth $3,855,798,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in GOOG. Fiduciary Advisors Inc. bought a new position in shares of Alphabet in the 4th quarter worth about $27,000. LSV Asset Management bought a new stake in Alphabet during the fourth quarter worth approximately $27,000. WealthTrak Capital Management LLC bought a new position in Alphabet during the fourth quarter valued at about $38,000. Mountain Hill Investment Partners Corp. bought a new stake in shares of Alphabet in the 4th quarter worth approximately $39,000. Finally, Noble Wealth Management PBC acquired a new position in shares of Alphabet in the 4th quarter worth $43,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GOOG. Rosenblatt Securities upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 25th. Tigress Financial restated a “strong-buy” rating on shares of Alphabet in a research report on Friday, May 2nd. UBS Group decreased their price target on Alphabet from $209.00 to $173.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Morgan Stanley reaffirmed an “overweight” rating on shares of Alphabet in a research note on Wednesday, February 5th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $171.00 price objective on shares of Alphabet in a research note on Friday, April 25th. Three analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and five have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $203.94.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 673 shares of the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the transaction, the chief accounting officer now owns 15,303 shares in the company, valued at approximately $2,377,014.99. This trade represents a 4.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the sale, the chief executive officer now directly owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. This represents a 1.18 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 146,824 shares of company stock worth $25,086,603. Company insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of GOOG opened at $152.82 on Thursday. The company has a market cap of $1.85 trillion, a price-to-earnings ratio of 18.98, a PEG ratio of 1.34 and a beta of 1.01. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The company’s fifty day simple moving average is $161.59 and its 200 day simple moving average is $177.00. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. The business had revenue of $90.23 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The firm’s revenue was up 12.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.89 EPS. On average, research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be given a $0.21 dividend. This is an increase from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.55%. Alphabet’s dividend payout ratio is presently 9.36%.

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.