Coleford Investment Management Ltd. Has $29.06 Million Stake in Alphabet Inc. $GOOGL

Coleford Investment Management Ltd. cut its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 164,915 shares of the information services provider’s stock after selling 955 shares during the period. Alphabet accounts for approximately 7.5% of Coleford Investment Management Ltd.’s investment portfolio, making the stock its 5th largest holding. Coleford Investment Management Ltd.’s holdings in Alphabet were worth $29,063,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Nuveen LLC bought a new position in shares of Alphabet in the first quarter worth $4,317,606,000. Vanguard Group Inc. grew its position in Alphabet by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock valued at $78,839,544,000 after buying an additional 14,307,345 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Alphabet by 11.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock valued at $6,783,364,000 after buying an additional 4,473,901 shares during the period. Amundi increased its stake in Alphabet by 11.8% during the 1st quarter. Amundi now owns 33,403,871 shares of the information services provider’s stock valued at $5,034,992,000 after buying an additional 3,537,173 shares during the period. Finally, Evergreen Quality Fund GP Ltd. raised its position in shares of Alphabet by 178.3% during the 1st quarter. Evergreen Quality Fund GP Ltd. now owns 4,003,900 shares of the information services provider’s stock worth $619,163,000 after buying an additional 2,565,400 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on GOOGL. The Goldman Sachs Group boosted their target price on Alphabet from $288.00 to $330.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Mizuho set a $325.00 price target on Alphabet in a research report on Thursday, October 30th. Daiwa Capital Markets upped their price objective on Alphabet from $233.00 to $333.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Evercore ISI raised their target price on Alphabet from $300.00 to $325.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Finally, HSBC lifted their target price on Alphabet from $295.00 to $335.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Four 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 company’s stock. According to data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average target price of $305.33.

Insiders Place Their Bets

In other news, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction on 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 transaction, the insider owned 42,985 shares in the company, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total value of $8,129,875.00. Following the completion of the sale, the chief executive officer directly owned 2,369,619 shares of the company’s stock, valued at approximately $592,760,192.85. This represents a 1.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 189,896 shares of company stock worth $47,653,637. Corporate insiders own 11.64% of the company’s stock.

Alphabet Trading Down 0.3%

Shares of GOOGL opened at $284.28 on Wednesday. The business’s 50-day moving average price is $259.16 and its 200 day moving average price is $211.00. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $3.43 trillion, a P/E ratio of 28.04, a P/E/G ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $293.95.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The company 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%. Analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is currently 8.28%.

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.