MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Cuts Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 234,446 shares of the information services provider’s stock after selling 1,281 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Alphabet were worth $35,697,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of GOOG. Veracity Capital LLC grew its stake in shares of Alphabet by 12.4% during the fourth quarter. Veracity Capital LLC now owns 10,597 shares of the information services provider’s stock worth $1,493,000 after purchasing an additional 1,173 shares in the last quarter. Independence Bank of Kentucky grew its stake in shares of Alphabet by 25.3% during the fourth quarter. Independence Bank of Kentucky now owns 6,093 shares of the information services provider’s stock worth $859,000 after purchasing an additional 1,230 shares in the last quarter. Park Avenue Securities LLC grew its stake in shares of Alphabet by 11.9% during the first quarter. Park Avenue Securities LLC now owns 109,878 shares of the information services provider’s stock worth $16,730,000 after purchasing an additional 11,646 shares in the last quarter. Strategic Blueprint LLC grew its stake in shares of Alphabet by 36.7% during the fourth quarter. Strategic Blueprint LLC now owns 15,068 shares of the information services provider’s stock worth $2,123,000 after purchasing an additional 4,044 shares in the last quarter. Finally, Investment Partners LTD. grew its stake in shares of Alphabet by 5.8% during the fourth quarter. Investment Partners LTD. now owns 7,446 shares of the information services provider’s stock worth $1,049,000 after purchasing an additional 410 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 800 shares of the stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $159.56, for a total transaction of $127,648.00. Following the completion of the transaction, the director now directly owns 7,991 shares of the company’s stock, valued at $1,275,043.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total value of $113,668.94. Following the completion of the transaction, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at $4,880,764.28. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director John L. Hennessy sold 800 shares of the stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $159.56, for a total transaction of $127,648.00. Following the completion of the transaction, the director now directly owns 7,991 shares of the company’s stock, valued at $1,275,043.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 123,788 shares of company stock worth $21,143,403. Company insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of GOOG opened at $186.61 on Wednesday. Alphabet Inc. has a fifty-two week low of $115.83 and a fifty-two week high of $187.50. The company has a market capitalization of $2.31 trillion, a price-to-earnings ratio of 28.62, a price-to-earnings-growth ratio of 1.38 and a beta of 1.05. The firm has a 50-day simple moving average of $174.93 and a 200-day simple moving average of $156.20. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current 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 for the quarter, topping the consensus estimate of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The business had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $78.75 billion. During the same quarter in the prior year, the firm earned $1.17 earnings per share. The business’s quarterly revenue was up 15.4% compared to the same quarter last year. On average, equities research analysts anticipate that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently announced a — dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were paid 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 12.27%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on GOOG shares. Morgan Stanley reiterated an “overweight” rating and set a $165.00 target price on shares of Alphabet in a research note on Thursday, April 11th. Rosenblatt Securities downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a research note on Friday, June 28th. Stifel Nicolaus upped their price objective on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Finally, Oppenheimer upped their price objective on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $167.86.

Alphabet 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.