Alphabet Inc. (NASDAQ:GOOGL) Position Lessened by Metropolis Capital Ltd

Metropolis Capital Ltd decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 35.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,609,434 shares of the information services provider’s stock after selling 880,205 shares during the quarter. Alphabet comprises approximately 10.7% of Metropolis Capital Ltd’s portfolio, making the stock its 3rd biggest position. Metropolis Capital Ltd’s holdings in Alphabet were worth $293,158,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GOOGL. MorganRosel Wealth Management LLC lifted its stake in shares of Alphabet by 3.6% during the 2nd quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock valued at $295,000 after buying an additional 57 shares in the last quarter. Hengehold Capital Management LLC raised its holdings in Alphabet by 0.8% during the second quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock valued at $1,316,000 after acquiring an additional 60 shares during the period. Joseph P. Lucia & Associates LLC lifted its position in shares of Alphabet by 1.0% in the first quarter. Joseph P. Lucia & Associates LLC now owns 6,624 shares of the information services provider’s stock valued at $1,000,000 after acquiring an additional 64 shares in the last quarter. Sunflower Bank N.A. grew its position in shares of Alphabet by 1.0% during the second quarter. Sunflower Bank N.A. now owns 6,309 shares of the information services provider’s stock worth $1,149,000 after purchasing an additional 65 shares in the last quarter. Finally, M. Kraus & Co raised its stake in Alphabet by 1.1% during the 1st quarter. M. Kraus & Co now owns 6,267 shares of the information services provider’s stock valued at $946,000 after purchasing an additional 66 shares during the period. Institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Wolfe Research assumed coverage on Alphabet in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 price target for the company. Roth Mkm upped their target price on shares of Alphabet from $202.00 to $206.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Loop Capital reiterated a “hold” rating and issued a $170.00 price target on shares of Alphabet in a report on Wednesday, July 3rd. Guggenheim increased their price objective on shares of Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, Needham & Company LLC restated a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research report on Wednesday, August 14th. Six analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $203.74.

Alphabet Stock Up 1.1 %

NASDAQ:GOOGL opened at $165.62 on Monday. The company has a market cap of $2.05 trillion, a price-to-earnings ratio of 25.40, a price-to-earnings-growth ratio of 1.28 and a beta of 1.05. Alphabet Inc. has a twelve month low of $120.21 and a twelve month high of $191.75. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock has a fifty day simple moving average of $174.73 and a 200-day simple moving average of $163.30.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The company had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter last year, the business posted $1.44 EPS. Analysts anticipate that Alphabet Inc. will post 7.62 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.48%. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

Insiders Place Their Bets

In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the completion of the sale, the senior vice president now directly owns 9 shares in the company, valued at approximately $1,655.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the transaction, the chief executive officer now directly owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Prabhakar Raghavan sold 3,262 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the transaction, the senior vice president now directly owns 9 shares of the company’s stock, valued at approximately $1,655.91. The disclosure for this sale can be found here. Insiders have sold 156,565 shares of company stock worth $26,823,893 in the last ninety days. 11.55% of the stock is owned by company insiders.

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.