Alphabet Inc. (NASDAQ:GOOGL) Stake Cut by Pensionfund Sabic

Pensionfund Sabic lowered its stake in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 8.3% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,750 shares of the information services provider’s stock after selling 250 shares during the quarter. Alphabet makes up about 1.9% of Pensionfund Sabic’s holdings, making the stock its 4th biggest position. Pensionfund Sabic’s holdings in Alphabet were worth $5,993,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GOOGL. Red Spruce Capital LLC raised its holdings in Alphabet by 1.0% in the 2nd quarter. Red Spruce Capital LLC now owns 3,622 shares of the information services provider’s stock valued at $7,893,000 after acquiring an additional 36 shares during the last quarter. McAlister Sweet & Associates Inc. raised its holdings in Alphabet by 10.1% in the 2nd quarter. McAlister Sweet & Associates Inc. now owns 798 shares of the information services provider’s stock valued at $1,739,000 after acquiring an additional 73 shares during the last quarter. Ellenbecker Investment Group raised its holdings in Alphabet by 10.6% in the 2nd quarter. Ellenbecker Investment Group now owns 94 shares of the information services provider’s stock valued at $204,000 after acquiring an additional 9 shares during the last quarter. Amalgamated Bank raised its holdings in Alphabet by 3.2% in the 1st quarter. Amalgamated Bank now owns 81,996 shares of the information services provider’s stock valued at $228,060,000 after acquiring an additional 2,578 shares during the last quarter. Finally, Stelac Advisory Services LLC raised its holdings in Alphabet by 18.9% in the 1st quarter. Stelac Advisory Services LLC now owns 126 shares of the information services provider’s stock valued at $350,000 after acquiring an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 1.88% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on GOOGL. Guggenheim cut their price target on Alphabet to $130.00 and set an “outperform” rating for the company in a report on Wednesday, July 27th. KeyCorp dropped their price objective on Alphabet from $153.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, July 26th. UBS Group dropped their price objective on Alphabet from $133.00 to $132.00 and set a “buy” rating for the company in a report on Wednesday, July 27th. Truist Financial dropped their price objective on Alphabet from $150.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, July 27th. Finally, Evercore ISI dropped their price objective on Alphabet from $155.50 to $140.00 and set an “outperform” rating for the company in a report on Wednesday, July 27th. Five investment analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $147.41.

Insider Transactions at Alphabet

In related news, Director Ann Mather sold 20 shares of the stock in a transaction dated Monday, June 27th. The shares were sold at an average price of $2,383.32, for a total transaction of $47,666.40. Following the sale, the director now owns 565 shares in the company, valued at $1,346,575.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, SVP Prabhakar Raghavan sold 1,109 shares of the stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $2,166.74, for a total transaction of $2,402,914.66. Following the sale, the senior vice president now owns 1,608 shares in the company, valued at $3,484,117.92. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ann Mather sold 20 shares of the stock in a transaction dated Monday, June 27th. The stock was sold at an average price of $2,383.32, for a total transaction of $47,666.40. Following the sale, the director now owns 565 shares in the company, valued at approximately $1,346,575.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,536 shares of company stock valued at $15,729,998. Insiders own 11.44% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL stock opened at $102.80 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.78 and a current ratio of 2.81. Alphabet Inc. has a one year low of $100.94 and a one year high of $151.55. The company’s 50-day simple moving average is $113.25 and its 200-day simple moving average is $118.95. The stock has a market capitalization of $1.34 trillion, a price-to-earnings ratio of 19.13, a PEG ratio of 1.70 and a beta of 1.09.

Alphabet (NASDAQ:GOOGLGet Rating) last issued its quarterly earnings results on Tuesday, July 26th. The information services provider reported $1.21 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.06). Alphabet had a return on equity of 28.65% and a net margin of 25.89%. The company had revenue of $57.47 billion for the quarter, compared to the consensus estimate of $57.55 billion. During the same period in the previous year, the business posted $27.26 EPS. Equities analysts anticipate that Alphabet Inc. will post 5.21 earnings per share for the current fiscal year.

Alphabet Profile

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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

Further Reading

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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