Alphabet Inc. $GOOG Shares Bought by Korea Investment CORP
by Scott Moore · The Cerbat GemKorea Investment CORP increased its position in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 0.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,960,020 shares of the information services provider’s stock after buying an additional 7,904 shares during the period. Alphabet accounts for approximately 1.5% of Korea Investment CORP’s investment portfolio, making the stock its 8th biggest holding. Korea Investment CORP’s holdings in Alphabet were worth $618,674,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the company. Principia Wealth Advisory LLC boosted its stake in Alphabet by 111.8% during the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC acquired a new position in Alphabet during the 1st quarter valued at about $26,000. Goodman Advisory Group LLC acquired a new position in Alphabet during the 1st quarter valued at about $32,000. Greykasell Wealth Strategies Inc. acquired a new position in Alphabet during the 1st quarter valued at about $32,000. Finally, Graybill Wealth Management LTD. acquired a new position in Alphabet during the 1st quarter valued at about $44,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Alphabet
In related news, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the completion of the transaction, the chief executive officer owned 2,559,892 shares of the company’s stock, valued at $456,991,919.84. This represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 274,819 shares of company stock worth $49,796,547. Corporate insiders own 12.99% of the company’s stock.
Analyst Upgrades and Downgrades
GOOG has been the subject of a number of analyst reports. Cantor Fitzgerald reiterated a “neutral” rating and set a $171.00 price target on shares of Alphabet in a research note on Friday, April 25th. Rosenblatt Securities raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 25th. Raymond James Financial reissued an “outperform” rating and set a $210.00 target price (up previously from $185.00) on shares of Alphabet in a research report on Thursday, July 24th. BNP Paribas cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 26th. Finally, Scotiabank lifted their target price on shares of Alphabet from $200.00 to $240.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, July 22nd. Three research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and five have given a strong buy rating to the stock. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $215.19.
View Our Latest Stock Analysis on GOOG
Alphabet Trading Up 0.5%
NASDAQ:GOOG opened at $204.91 on Monday. 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 $2.48 trillion, a PE ratio of 21.82, a price-to-earnings-growth ratio of 1.38 and a beta of 1.02. The firm’s 50 day moving average is $185.21 and its 200 day moving average is $174.52. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $208.70.
Alphabet (NASDAQ:GOOG – Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.19. The company had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Alphabet’s revenue was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.89 EPS. Sell-side analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.
Alphabet Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet’s payout ratio is currently 8.95%.
Alphabet Company 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.
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