Elo Mutual Pension Insurance Co Trims Stock Holdings in Alphabet Inc. $GOOGL

Elo Mutual Pension Insurance Co cut its stake in Alphabet Inc. (NASDAQ:GOOGL) by 12.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 482,206 shares of the information services provider’s stock after selling 66,140 shares during the quarter. Alphabet accounts for 1.7% of Elo Mutual Pension Insurance Co’s holdings, making the stock its 9th biggest position. Elo Mutual Pension Insurance Co’s holdings in Alphabet were worth $84,979,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. NBZ Investment Advisors LLC grew its holdings in shares of Alphabet by 85.7% in the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after buying an additional 90 shares during the period. Financial Gravity Companies Inc. acquired a new position in Alphabet in the second quarter valued at about $31,000. CarsonAllaria Wealth Management Ltd. increased its holdings in shares of Alphabet by 36.4% in the second quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock worth $44,000 after acquiring an additional 67 shares in the last quarter. Christopher J. Hasenberg Inc raised its position in shares of Alphabet by 77.6% during the second quarter. Christopher J. Hasenberg Inc now owns 348 shares of the information services provider’s stock worth $61,000 after purchasing an additional 152 shares during the period. Finally, S&T Bank PA lifted its holdings in shares of Alphabet by 40.2% during the 2nd quarter. S&T Bank PA now owns 345 shares of the information services provider’s stock valued at $61,000 after purchasing an additional 99 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Alphabet news, Director Frances Arnold sold 102 shares of the company’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $317.66, for a total value of $32,401.32. Following the transaction, the director directly owned 18,104 shares in the company, valued at $5,750,916.64. The trade was a 0.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $319.50, for a total transaction of $10,383,750.00. Following the completion of the transaction, the chief executive officer directly owned 2,272,119 shares in the company, valued at $725,942,020.50. The trade was a 1.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 226,128 shares of company stock worth $61,326,372 in the last quarter. Insiders own 11.64% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL stock opened at $321.27 on Friday. The company has a fifty day moving average price of $276.15 and a two-hundred day moving average price of $224.51. Alphabet Inc. has a one year low of $140.53 and a one year high of $328.83. The stock has a market cap of $3.88 trillion, a P/E ratio of 31.68, a P/E/G ratio of 1.86 and a beta of 1.07. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.75.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. The company had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. As a group, equities analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GOOGL. DA Davidson reaffirmed a “neutral” rating and issued a $300.00 price target on shares of Alphabet in a research note on Tuesday, November 25th. Moffett Nathanson lifted their price target on Alphabet from $305.00 to $315.00 and gave the company a “buy” rating in a research note on Tuesday, November 25th. New Street Research increased their price objective on Alphabet from $275.00 to $295.00 in a report on Friday, October 24th. Robert W. Baird boosted their target price on Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a research note on Monday, September 22nd. Finally, Hsbc Global Res raised shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, October 7th. Four research analysts have rated the stock with a Strong Buy rating, forty-one have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $312.65.

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.