Alphabet Inc. (NASDAQ:GOOGL) Holdings Decreased by Carmignac Gestion

Carmignac Gestion reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 33.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 962,008 shares of the information services provider’s stock after selling 474,916 shares during the quarter. Alphabet comprises about 2.3% of Carmignac Gestion’s investment portfolio, making the stock its 13th largest holding. Carmignac Gestion’s holdings in Alphabet were worth $134,398,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of GOOGL. DiNuzzo Private Wealth Inc. bought a new stake in Alphabet in the fourth quarter worth about $38,000. Meritage Group LP raised its position in Alphabet by 1,061.5% in the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after acquiring an additional 276 shares in the last quarter. Armor Investment Advisors LLC increased its stake in Alphabet by 31.0% in the 4th quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock worth $47,000 after purchasing an additional 80 shares in the last quarter. IAG Wealth Partners LLC increased its stake in Alphabet by 55.9% in the 4th quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock worth $48,000 after purchasing an additional 123 shares in the last quarter. Finally, Valued Wealth Advisors LLC purchased a new position in Alphabet in the 4th quarter worth about $55,000. 40.03% of the stock is currently owned by institutional investors.

Insider Transactions at Alphabet

In other news, CFO Ruth Porat sold 48,077 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the sale, the chief financial officer now directly owns 1,777,106 shares in the company, valued at $243,854,485.32. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Ruth Porat sold 48,077 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the sale, the chief financial officer now directly owns 1,777,106 shares in the company, valued at $243,854,485.32. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $176.58, for a total value of $3,973,050.00. Following the sale, the chief executive officer now owns 2,235,511 shares in the company, valued at $394,746,532.38. The disclosure for this sale can be found here. Insiders sold a total of 205,835 shares of company stock worth $32,177,952 over the last three months. 11.55% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on GOOGL shares. Tigress Financial lifted their price target on Alphabet from $176.00 to $210.00 and gave the stock a “strong-buy” rating in a research note on Friday, May 24th. Oppenheimer lifted their price target on Alphabet from $185.00 to $205.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. JMP Securities reaffirmed a “market outperform” rating and set a $200.00 target price on shares of Alphabet in a research note on Wednesday, May 15th. Wolfe Research lifted their target price on Alphabet from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Finally, JPMorgan Chase & Co. lifted their target price on Alphabet from $165.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Five research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $191.57.

Alphabet Stock Up 0.9 %

Shares of GOOGL stock opened at $175.41 on Thursday. Alphabet Inc. has a 12 month low of $115.35 and a 12 month high of $178.77. The firm has a market cap of $2.17 trillion, a PE ratio of 26.90, a price-to-earnings-growth ratio of 1.31 and a beta of 1.01. The stock has a 50 day moving average of $164.82 and a 200-day moving average of $149.09. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The company had revenue of $80.54 billion during the quarter, compared to analyst estimates of $66.04 billion. During the same period in the previous year, the company earned $1.17 earnings per share. On average, equities analysts predict that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%.

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.