Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Mayar Capital Ltd.
by Teresa Graham · The Cerbat GemMayar Capital Ltd. lessened its holdings in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 52.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,130 shares of the information services provider’s stock after selling 36,000 shares during the quarter. Alphabet accounts for about 9.2% of Mayar Capital Ltd.’s holdings, making the stock its 5th biggest position. Mayar Capital Ltd.’s holdings in Alphabet were worth $5,176,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in GOOG. FMR LLC increased its holdings in Alphabet by 2.8% in the fourth quarter. FMR LLC now owns 117,991,725 shares of the information services provider’s stock valued at $22,470,344,000 after buying an additional 3,189,592 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Alphabet by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 104,777,092 shares of the information services provider’s stock worth $19,894,651,000 after acquiring an additional 1,219,606 shares during the period. Capital International Investors increased its stake in Alphabet by 6.7% in the 4th quarter. Capital International Investors now owns 91,236,069 shares of the information services provider’s stock valued at $17,376,706,000 after purchasing an additional 5,758,244 shares in the last quarter. Northern Trust Corp raised its holdings in Alphabet by 16.1% during the fourth quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider’s stock worth $10,873,751,000 after purchasing an additional 7,917,625 shares during the last quarter. Finally, Capital Research Global Investors boosted its position in Alphabet by 0.8% during the fourth quarter. Capital Research Global Investors now owns 39,148,500 shares of the information services provider’s stock worth $7,455,571,000 after purchasing an additional 294,556 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.
Alphabet Stock Up 0.8%
Shares of NASDAQ:GOOG opened at $182.81 on Tuesday. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70. The stock’s 50-day moving average price is $171.84 and its two-hundred day moving average price is $174.68. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. The firm has a market cap of $2.22 trillion, a price-to-earnings ratio of 20.38, a PEG ratio of 1.27 and a beta of 1.01.
Alphabet (NASDAQ:GOOG – Get Free Report) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. The firm had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. Alphabet’s revenue was up 12.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.89 earnings per share. On average, research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.
Alphabet Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were given a $0.21 dividend. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend was Monday, June 9th. Alphabet’s dividend payout ratio (DPR) is 9.36%.
Insider Activity at Alphabet
In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the completion of the sale, the chief executive officer directly owned 2,559,892 shares in the company, valued at $456,991,919.84. This represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $1,837,500.00. Following the completion of the transaction, the director owned 261,966 shares in the company, valued at approximately $45,844,050. This trade represents a 3.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 215,443 shares of company stock worth $36,298,548. 12.99% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on GOOG. Barclays restated a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Oppenheimer restated an “outperform” rating and set a $220.00 target price (up from $200.00) on shares of Alphabet in a report on Wednesday, July 9th. Citigroup reaffirmed a “sell” rating on shares of Alphabet in a report on Wednesday, April 23rd. Cowen reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, Lake Street Capital restated a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, eighteen have assigned a buy rating and six have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $207.13.
Read Our Latest Stock Analysis on Alphabet
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.
See Also
- Five stocks we like better than Alphabet
- How to trade penny stocks: A step-by-step guide
- Palantir Gets Price Hike From Wedbush Amid High Valuation
- What Are the FAANG Stocks and Are They Good Investments?
- Will Dollar Tree Break Out After a New $2.5 Billion Buyback?
- 2 Rising CRM Platform Stocks That Can Surge Higher in 2025
- These 3 Undervalued Stocks Could Surge as Value Rotation Nears
Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOG – Free Report).