Alphabet Inc. (NASDAQ:GOOG) is Pensionfund Sabic’s 7th Largest Position

Pensionfund Sabic lowered its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 8.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,600 shares of the information services provider’s stock after selling 3,000 shares during the quarter. Alphabet accounts for about 1.6% of Pensionfund Sabic’s investment portfolio, making the stock its 7th largest position. Pensionfund Sabic’s holdings in Alphabet were worth $5,268,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Bruce G. Allen Investments LLC bought a new stake in Alphabet during the fourth quarter valued at about $26,000. Partnership Wealth Management LLC bought a new stake in shares of Alphabet in the fourth quarter worth about $26,000. Equitec Proprietary Markets LLC bought a new stake in shares of Alphabet in the fourth quarter worth about $28,000. DiNuzzo Private Wealth Inc. bought a new stake in shares of Alphabet in the fourth quarter worth about $32,000. Finally, Pacific Capital Wealth Advisors Inc. bought a new stake in shares of Alphabet in the fourth quarter worth about $34,000. 27.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GOOG. Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a report on Thursday, April 11th. Stifel Nicolaus boosted their price objective on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Finally, Oppenheimer boosted their price objective on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $165.67.

Alphabet Trading Down 1.3 %

Shares of NASDAQ GOOG opened at $176.45 on Thursday. Alphabet Inc. has a 1-year low of $115.83 and a 1-year high of $182.08. The business’s 50 day moving average is $170.85 and its two-hundred day moving average is $153.29. The stock has a market capitalization of $2.18 trillion, a P/E ratio of 27.06, a PEG ratio of 1.31 and a beta of 1.01. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.38. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business had revenue of $80.54 billion during the quarter, compared to analyst estimates of $78.75 billion. During the same quarter in the previous year, the business earned $1.17 earnings per share. The company’s revenue for the quarter was up 15.4% compared to the same quarter last year. As a group, research analysts expect that Alphabet Inc. will post 7.69 EPS for the current year.

Alphabet Announces Dividend

The firm also recently announced a — dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Insider Buying and Selling at Alphabet

In related news, insider John Kent Walker sold 12,084 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $151.19, for a total value of $1,826,979.96. Following the completion of the sale, the insider now owns 48,717 shares in the company, valued at $7,365,523.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total transaction of $105,566.78. Following the completion of the sale, the chief accounting officer now owns 29,284 shares in the company, valued at $4,532,870.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider John Kent Walker sold 12,084 shares of the company’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $151.19, for a total value of $1,826,979.96. Following the sale, the insider now owns 48,717 shares of the company’s stock, valued at approximately $7,365,523.23. The disclosure for this sale can be found here. Insiders sold 135,958 shares of company stock worth $22,383,553 over the last 90 days. Company insiders own 12.99% of the company’s stock.

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.