Alphabet Inc. $GOOGL is AustralianSuper Pty Ltd’s 7th Largest Position

AustralianSuper Pty Ltd lessened its stake in Alphabet Inc. (NASDAQ:GOOGL) by 2.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,350,004 shares of the information services provider’s stock after selling 70,208 shares during the period. Alphabet comprises about 2.1% of AustralianSuper Pty Ltd’s investment portfolio, making the stock its 7th largest position. AustralianSuper Pty Ltd’s holdings in Alphabet were worth $414,141,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the company. Guardian Wealth Management Inc. increased its position in Alphabet by 242.9% in the 1st 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 $28,000. IMA Advisory Services Inc. acquired a new stake in shares of Alphabet during the first quarter worth $28,000. NBZ Investment Advisors LLC grew its position in Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after purchasing an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new position in shares of Alphabet during the first quarter valued at $39,000. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Down 2.1%

Shares of GOOGL stock opened at $278.83 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $291.59. The firm’s 50-day moving average is $251.23 and its 200-day moving average is $204.19. The stock has a market cap of $3.37 trillion, a price-to-earnings ratio of 27.50, a PEG ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.58. The business had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. Sell-side analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be issued a $0.21 dividend. The ex-dividend date is Monday, December 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s payout ratio is presently 8.28%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on GOOGL. Susquehanna lifted their price target on Alphabet from $225.00 to $350.00 and gave the company a “positive” rating in a report on Thursday, October 30th. President Capital lifted their price target on Alphabet from $258.00 to $323.00 and gave the stock a “buy” rating in a research report on Thursday. Needham & Company LLC increased their target price on shares of Alphabet from $260.00 to $330.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. DZ Bank reissued a “buy” rating on shares of Alphabet in a research note on Thursday, October 30th. Finally, CICC Research lifted their price objective on Alphabet from $240.00 to $303.00 and gave the company an “outperform” rating in a report on Friday, October 31st. Three research analysts have rated the stock with a Strong Buy rating, thirty-eight have issued a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $304.10.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the transaction, the chief accounting officer directly owned 17,293 shares of the company’s stock, valued at $4,236,785. This represents a 13.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the sale, the insider owned 42,985 shares of the company’s stock, valued at $10,635,348.70. This trade represents a 29.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 222,396 shares of company stock valued at $54,105,275 in the last ninety days. 11.64% of the stock is 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.