Alphabet Inc. $GOOGL is Generate Investment Management Ltd’s 6th Largest Position

Generate Investment Management Ltd boosted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 43.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 314,640 shares of the information services provider’s stock after acquiring an additional 95,263 shares during the period. Alphabet accounts for approximately 3.1% of Generate Investment Management Ltd’s holdings, making the stock its 6th biggest holding. Generate Investment Management Ltd’s holdings in Alphabet were worth $55,440,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Guardian Wealth Management Inc. raised its position in shares of Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after acquiring an additional 119 shares in the last quarter. IMA Advisory Services Inc. purchased a new stake in Alphabet in the first quarter worth $28,000. von Borstel & Associates Inc. purchased a new stake in Alphabet in the first quarter worth $28,000. NBZ Investment Advisors LLC raised its holdings in Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after purchasing an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new position in Alphabet during the first quarter valued at $39,000. 40.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $249.44, for a total transaction of $149,664.00. Following the completion of the sale, the director owned 5,716 shares of the company’s stock, valued at $1,425,799.04. This represents a 9.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Frances Arnold sold 103 shares of the stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total transaction of $25,042.39. Following the completion of the transaction, the director owned 17,284 shares in the company, valued at $4,202,258.92. This trade represents a 0.59% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 276,738 shares of company stock worth $59,135,475. 11.64% of the stock is owned by corporate insiders.

Alphabet Stock Down 0.1%

Shares of Alphabet stock opened at $245.35 on Friday. The company has a market cap of $2.97 trillion, a price-to-earnings ratio of 26.13, a price-to-earnings-growth ratio of 1.66 and a beta of 1.00. The company’s 50 day moving average is $221.25 and its 200 day moving average is $185.96. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $256.00. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.16. The business had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet’s dividend payout ratio (DPR) is presently 8.95%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Wolfe Research upped their target price on shares of Alphabet from $220.00 to $290.00 in a research report on Tuesday, September 30th. Rosenblatt Securities lifted their price target on shares of Alphabet from $191.00 to $224.00 and gave the company a “neutral” rating in a research report on Wednesday, September 3rd. KeyCorp upped their price objective on shares of Alphabet from $230.00 to $265.00 and gave the stock an “overweight” rating in a report on Wednesday, September 3rd. Jefferies Financial Group raised their target price on shares of Alphabet from $230.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Stifel Nicolaus lifted their target price on shares of Alphabet from $200.00 to $218.00 and gave the company a “buy” rating in a report on Tuesday, July 22nd. Four analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $240.76.

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.