Alphabet Inc. $GOOGL is Generation Investment Management LLP’s 9th Largest Position

Generation Investment Management LLP lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,686,995 shares of the information services provider’s stock after selling 194,779 shares during the quarter. Alphabet accounts for about 4.1% of Generation Investment Management LLP’s holdings, making the stock its 9th largest position. Generation Investment Management LLP’s holdings in Alphabet were worth $649,759,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in 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 worth $26,000 after buying an additional 119 shares during the period. IMA Advisory Services Inc. acquired a new position in Alphabet during the first quarter valued at $28,000. NBZ Investment Advisors LLC lifted its stake in Alphabet by 85.7% in the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after acquiring an additional 90 shares in the last quarter. CarsonAllaria Wealth Management Ltd. lifted its stake in Alphabet by 36.4% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock worth $44,000 after acquiring an additional 67 shares in the last quarter. Finally, MJT & Associates Financial Advisory Group Inc. acquired a new stake in Alphabet during the 1st quarter worth about $50,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Performance

GOOGL stock opened at $299.66 on Friday. The firm has a 50 day moving average of $262.39 and a two-hundred day moving average of $213.40. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $306.42. The company has a market capitalization of $3.62 trillion, a price-to-earnings ratio of 29.55, a P/E/G ratio of 1.86 and a beta of 1.05. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.58. The business had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. As a group, equities analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

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

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $280.06, for a total transaction of $168,036.00. Following the completion of the sale, the director owned 4,516 shares of the company’s stock, valued at $1,264,750.96. This represents a 11.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frances Arnold sold 112 shares of the stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $291.80, for a total value of $32,681.60. Following the transaction, the director owned 18,004 shares in the company, valued at approximately $5,253,567.20. This trade represents a 0.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 225,174 shares of company stock worth $58,095,223. Insiders own 11.64% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on GOOGL. Citizens Jmp upped their target price on Alphabet from $250.00 to $290.00 and gave the company an “outperform” rating in a report on Friday, September 19th. BNP Paribas Exane boosted their price objective on shares of Alphabet from $247.00 to $281.00 and gave the company a “neutral” rating in a research report on Monday, November 3rd. China Renaissance upped their price objective on shares of Alphabet from $207.00 to $330.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Truist Financial increased their target price on shares of Alphabet from $285.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Finally, DZ Bank reissued a “buy” rating on shares of Alphabet in a research note on Thursday. Four investment analysts have rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $305.33.

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.