Ilmarinen Mutual Pension Insurance Co Has $248.95 Million Stock Holdings in Alphabet Inc. $GOOGL

Ilmarinen Mutual Pension Insurance Co trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.6% during the 1st quarter, HoldingsChannel.com reports. The firm owned 1,609,888 shares of the information services provider’s stock after selling 10,000 shares during the period. Alphabet makes up about 2.2% of Ilmarinen Mutual Pension Insurance Co’s holdings, making the stock its 8th biggest holding. Ilmarinen Mutual Pension Insurance Co’s holdings in Alphabet were worth $248,953,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nia Impact Advisors LLC grew its holdings in shares of Alphabet by 0.3% during the fourth quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider’s stock valued at $3,249,000 after buying an additional 59 shares during the last quarter. Enzi Wealth lifted its position in Alphabet by 2.5% in the 1st quarter. Enzi Wealth now owns 2,561 shares of the information services provider’s stock valued at $408,000 after acquiring an additional 62 shares in the last quarter. Whipplewood Advisors LLC boosted its stake in Alphabet by 1.2% during the 1st quarter. Whipplewood Advisors LLC now owns 5,438 shares of the information services provider’s stock valued at $817,000 after purchasing an additional 67 shares during the last quarter. Aspire Capital Advisors LLC increased its holdings in shares of Alphabet by 1.0% in the 1st quarter. Aspire Capital Advisors LLC now owns 7,020 shares of the information services provider’s stock worth $1,086,000 after purchasing an additional 67 shares in the last quarter. Finally, Rainey & Randall Wealth Advisors Inc. raised its stake in shares of Alphabet by 2.1% in the first quarter. Rainey & Randall Wealth Advisors Inc. now owns 3,209 shares of the information services provider’s stock worth $496,000 after purchasing an additional 67 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $199.92, for a total transaction of $6,497,400.00. Following the transaction, the chief executive officer owned 2,462,392 shares in the company, valued at approximately $492,281,408.64. The trade was a 1.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Kent Walker sold 23,820 shares of the company’s stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares of the company’s stock, valued at $8,371,905.30. This represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold 254,710 shares of company stock worth $49,208,380 over the last ninety days. Company insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Sanford C. Bernstein increased their price objective on Alphabet from $185.00 to $195.00 and gave the company a “market perform” rating in a research report on Tuesday, July 22nd. Oppenheimer restated an “outperform” rating and set a $270.00 target price (up previously from $235.00) on shares of Alphabet in a research note on Tuesday, September 2nd. Royal Bank Of Canada lifted their price target on shares of Alphabet from $220.00 to $260.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 3rd. Needham & Company LLC boosted their price objective on shares of Alphabet from $220.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, September 3rd. Finally, Bank of America raised their target price on shares of Alphabet from $210.00 to $217.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Three analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $221.44.

Alphabet Trading Up 2.4%

NASDAQ:GOOGL opened at $239.63 on Wednesday. The firm has a market capitalization of $2.90 trillion, a price-to-earnings ratio of 25.52, a price-to-earnings-growth ratio of 1.57 and a beta of 1.01. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The business has a fifty day moving average price of $198.22 and a 200-day moving average price of $176.17. Alphabet Inc. has a one year low of $140.53 and a one year high of $240.47.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. Sell-side analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet’s payout ratio is currently 8.95%.

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.