Mirabaud & Cie SA Reduces Holdings in Alphabet Inc. $GOOGL

Mirabaud & Cie SA lowered its position in Alphabet Inc. (NASDAQ:GOOGL) by 20.8% during the second quarter, Holdings Channel.com reports. The institutional investor owned 53,939 shares of the information services provider’s stock after selling 14,195 shares during the period. Alphabet accounts for approximately 3.0% of Mirabaud & Cie SA’s portfolio, making the stock its 11th biggest position. Mirabaud & Cie SA’s holdings in Alphabet were worth $9,506,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of GOOGL. Brighton Jones LLC boosted its position in Alphabet by 3.9% in the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after buying an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC boosted its position in Alphabet by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock valued at $2,826,000 after buying an additional 506 shares during the last quarter. Highview Capital Management LLC DE boosted its position in Alphabet by 3.6% in the fourth quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider’s stock valued at $5,509,000 after buying an additional 1,003 shares during the last quarter. Forum Financial Management LP boosted its position in Alphabet by 6.4% in the fourth quarter. Forum Financial Management LP now owns 79,160 shares of the information services provider’s stock valued at $14,985,000 after buying an additional 4,756 shares during the last quarter. Finally, Triumph Capital Management boosted its position in Alphabet by 1.6% in the fourth quarter. Triumph Capital Management now owns 5,470 shares of the information services provider’s stock valued at $1,036,000 after buying an additional 88 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Up 0.2%

NASDAQ GOOGL opened at $240.80 on Monday. The business has a fifty day moving average price of $201.89 and a 200 day moving average price of $177.58. Alphabet Inc. has a one year low of $140.53 and a one year high of $242.25. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The company has a market cap of $2.91 trillion, a P/E ratio of 25.64, a P/E/G ratio of 1.62 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last issued its 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. The company had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date is Monday, September 8th. Alphabet’s dividend payout ratio is presently 8.95%.

Analyst Ratings Changes

A number of research analysts have issued reports on GOOGL shares. Truist Financial reissued a “buy” rating and issued a $200.00 price target on shares of Alphabet in a report on Wednesday, July 2nd. Westpark Capital boosted their price target on Alphabet from $210.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, July 24th. KeyCorp boosted their price target on Alphabet from $230.00 to $265.00 and gave the company an “overweight” rating in a report on Wednesday, September 3rd. Royal Bank Of Canada boosted their price target on Alphabet from $220.00 to $260.00 and gave the company an “outperform” rating in a report on Wednesday, September 3rd. Finally, Loop Capital reissued a “hold” rating and issued a $190.00 price target (up from $165.00) on shares of Alphabet in a report on Tuesday, August 5th. 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 company currently has an average rating of “Moderate Buy” and a consensus target price of $221.44.

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $203.79, for a total value of $122,274.00. Following the completion of the sale, the director directly owned 6,316 shares in the company, valued at $1,287,137.64. This represents a 8.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Kent Walker sold 23,820 shares of the company’s stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the sale, the insider owned 42,999 shares of the company’s stock, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 254,710 shares of company stock valued at $49,208,380 in the last quarter. Corporate insiders own 11.55% 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.