Ninety One SA PTY Ltd Has $21.97 Million Holdings in Alphabet Inc. $GOOGL

Ninety One SA PTY Ltd reduced its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 124,471 shares of the information services provider’s stock after selling 572 shares during the quarter. Alphabet comprises about 3.6% of Ninety One SA PTY Ltd’s holdings, making the stock its 8th biggest holding. Ninety One SA PTY Ltd’s holdings in Alphabet were worth $21,965,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of GOOGL. Guardian Wealth Management Inc. boosted its position in shares of Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 119 shares during the period. von Borstel & Associates Inc. bought a new position in shares of Alphabet in the first quarter valued at approximately $28,000. IMA Advisory Services Inc. bought a new position in shares of Alphabet in the first quarter valued at approximately $28,000. NBZ Investment Advisors LLC raised its stake in Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after purchasing an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new stake in Alphabet in the first quarter valued at approximately $39,000. 40.03% of the stock is currently owned by institutional investors.

Alphabet Trading Down 1.9%

NASDAQ:GOOGL opened at $245.76 on Wednesday. The company has a fifty day moving average of $223.41 and a 200 day moving average of $187.13. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $256.00. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $2.97 trillion, a P/E ratio of 26.17, a P/E/G ratio of 1.69 and a beta of 1.00.

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

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet’s payout ratio is presently 8.95%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on GOOGL shares. Melius Research raised their target price on shares of Alphabet from $220.00 to $255.00 in a research note on Thursday, September 25th. BNP Paribas downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 26th. Moffett Nathanson raised their target price on shares of Alphabet from $230.00 to $295.00 and gave the company a “buy” rating in a research note on Thursday, September 25th. Loop Capital reaffirmed a “hold” rating and issued a $190.00 target price (up from $165.00) on shares of Alphabet in a research note on Tuesday, August 5th. Finally, Robert W. Baird raised their target price on shares of Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a research note on Monday, September 22nd. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $242.98.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the business’s stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider directly 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the business’s stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the transaction, the director directly owned 243,400 shares in the company, valued at approximately $45,213,984. The trade was a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 276,738 shares of company stock valued at $59,135,475. 11.55% of the stock is currently owned by company insiders.

Alphabet 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.