Alphabet Inc. $GOOGL Position Trimmed by Banco Bilbao Vizcaya Argentaria S.A.

Banco Bilbao Vizcaya Argentaria S.A. lowered its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,508,234 shares of the information services provider’s stock after selling 29,379 shares during the period. Alphabet accounts for 2.4% of Banco Bilbao Vizcaya Argentaria S.A.’s holdings, making the stock its 6th biggest position. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in Alphabet were worth $265,869,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Guardian Wealth Management Inc. lifted its position in Alphabet by 242.9% during 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 during the period. IMA Advisory Services Inc. purchased a new position in shares of Alphabet in the first quarter worth about $28,000. NBZ Investment Advisors LLC lifted its holdings in shares of Alphabet by 85.7% during 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 during the period. CarsonAllaria Wealth Management Ltd. boosted its position in Alphabet by 36.4% in the second quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock valued at $44,000 after buying an additional 67 shares during the last quarter. Finally, MJT & Associates Financial Advisory Group Inc. purchased a new stake in Alphabet in the first quarter valued at approximately $50,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. HSBC raised their price target on shares of Alphabet from $295.00 to $335.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Loop Capital raised shares of Alphabet from a “hold” rating to a “buy” rating and increased their price objective for the company from $260.00 to $320.00 in a report on Tuesday, November 18th. Arete increased their target price on Alphabet from $220.00 to $300.00 and gave the company a “buy” rating in a report on Monday. Piper Sandler reiterated an “overweight” rating and issued a $330.00 target price (up from $285.00) on shares of Alphabet in a research report on Thursday, October 30th. Finally, Canaccord Genuity Group increased their price target on Alphabet from $270.00 to $330.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Four equities research analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $307.84.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total value of $8,129,875.00. Following the completion of the transaction, the chief executive officer directly owned 2,369,619 shares of the company’s stock, valued at $592,760,192.85. This represents a 1.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total transaction of $694,638.90. Following the completion of the sale, the chief accounting officer directly owned 14,516 shares of the company’s stock, valued at approximately $3,629,725.80. This trade represents a 16.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 225,174 shares of company stock valued at $58,095,223. 11.64% of the stock is currently owned by corporate insiders.

Alphabet Stock Performance

Shares of GOOGL opened at $323.44 on Wednesday. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $328.83. The stock has a 50-day simple moving average of $265.17 and a 200-day simple moving average of $216.20. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock has a market capitalization of $3.90 trillion, a PE ratio of 31.90, a PEG ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The business had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. On average, analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s payout ratio is 8.28%.

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.