MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Buys 35,490 Shares of Alphabet Inc. (NASDAQ:GOOG)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 2.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,818,528 shares of the information services provider’s stock after buying an additional 35,490 shares during the period. Alphabet accounts for 0.7% of MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s investment portfolio, making the stock its 14th biggest position. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Alphabet were worth $346,337,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank bought a new position in Alphabet in the 4th quarter valued at $5,166,070,000. Raymond James Financial Inc. bought a new position in Alphabet in the 4th quarter valued at $1,551,533,000. Northern Trust Corp boosted its holdings in Alphabet by 16.1% in the 4th quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider’s stock valued at $10,873,751,000 after purchasing an additional 7,917,625 shares during the period. GQG Partners LLC boosted its holdings in Alphabet by 181,679.1% in the 4th quarter. GQG Partners LLC now owns 7,225,721 shares of the information services provider’s stock valued at $1,376,066,000 after purchasing an additional 7,221,746 shares during the period. Finally, Capital International Investors boosted its holdings in Alphabet by 6.7% in the 4th quarter. Capital International Investors now owns 91,236,069 shares of the information services provider’s stock valued at $17,376,706,000 after purchasing an additional 5,758,244 shares during the period. 27.26% of the stock is owned by institutional investors.

Alphabet Price Performance

GOOG stock opened at $154.38 on Monday. The firm’s 50-day moving average price is $160.96 and its two-hundred day moving average price is $177.02. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70. The stock has a market capitalization of $1.87 trillion, a price-to-earnings ratio of 19.18, 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.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.79. The firm had revenue of $90.23 billion for the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The business’s revenue was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.89 earnings per share. As a group, equities analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be given a dividend of $0.21 per share. This is an increase from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.54%. Alphabet’s dividend payout ratio is 9.36%.

Wall Street Analyst Weigh In

GOOG has been the subject of several analyst reports. Susquehanna reissued a “positive” rating on shares of Alphabet in a report on Friday, May 2nd. UBS Group cut their price target on shares of Alphabet from $209.00 to $173.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Citigroup reaffirmed a “sell” rating on shares of Alphabet in a report on Wednesday, April 23rd. Scotiabank dropped their price objective on shares of Alphabet from $232.00 to $200.00 and set a “sector outperform” rating for the company in a report on Monday, April 21st. Finally, Oppenheimer lifted their price objective on shares of Alphabet from $185.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, April 25th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $203.94.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 2,824 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $187.43, for a total value of $529,302.32. Following the transaction, the chief accounting officer now directly owns 15,024 shares in the company, valued at approximately $2,815,948.32. This trade represents a 15.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Kent Walker sold 17,690 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $185.51, for a total transaction of $3,281,671.90. Following the completion of the transaction, the insider now owns 43,111 shares in the company, valued at $7,997,521.61. The trade was a 29.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 179,324 shares of company stock worth $30,153,353 over the last quarter. Company insiders own 12.99% of the company’s stock.

About Alphabet

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.