Alphabet Inc. (NASDAQ:GOOGL) Stock Position Reduced by Aljian Capital Management LLC

Aljian Capital Management LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.4% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 194,004 shares of the information services provider’s stock after selling 6,874 shares during the period. Alphabet comprises approximately 11.7% of Aljian Capital Management LLC’s holdings, making the stock its 4th largest position. Aljian Capital Management LLC’s holdings in Alphabet were worth $35,338,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOGL. Norges Bank purchased a new position in Alphabet during the fourth quarter valued at approximately $15,441,917,000. Capital Research Global Investors lifted its stake in Alphabet by 14.4% in the first quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock valued at $8,724,251,000 after acquiring an additional 7,275,757 shares during the last quarter. Vanguard Group Inc. lifted its stake in Alphabet by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock valued at $68,980,354,000 after acquiring an additional 6,374,756 shares during the last quarter. Public Employees Retirement Association of Colorado lifted its stake in Alphabet by 39,754.9% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 6,025,667 shares of the information services provider’s stock valued at $841,725,000 after acquiring an additional 6,010,548 shares during the last quarter. Finally, PineStone Asset Management Inc. lifted its stake in Alphabet by 143.7% in the second quarter. PineStone Asset Management Inc. now owns 7,072,197 shares of the information services provider’s stock valued at $1,288,201,000 after acquiring an additional 4,170,229 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total value of $3,772,350.00. Following the sale, the chief executive officer now owns 2,159,885 shares of the company’s stock, valued at approximately $362,126,319.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total value of $3,772,350.00. Following the sale, the chief executive officer now owns 2,159,885 shares of the company’s stock, valued at approximately $362,126,319.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total transaction of $125,126.54. Following the completion of the sale, the chief accounting officer now directly owns 30,650 shares in the company, valued at approximately $5,623,355.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 155,883 shares of company stock valued at $26,705,320. 11.55% of the stock is owned by insiders.

Alphabet Trading Up 1.0 %

Shares of Alphabet stock opened at $163.38 on Tuesday. The firm has a market capitalization of $2.01 trillion, a PE ratio of 25.06, a price-to-earnings-growth ratio of 1.22 and a beta of 1.05. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The company’s fifty day moving average price is $173.13 and its two-hundred day moving average price is $164.05. Alphabet Inc. has a 52-week low of $120.21 and a 52-week high of $191.75.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter in the previous year, the firm posted $1.44 EPS. On average, analysts expect that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. The ex-dividend date is Monday, September 9th. Alphabet’s payout ratio is 12.27%.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of a number of analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research note on Friday. JMP Securities reiterated a “market outperform” rating and issued a $200.00 target price on shares of Alphabet in a research note on Tuesday, July 30th. TD Securities lifted their target price on shares of Alphabet from $200.00 to $220.00 in a research note on Wednesday, July 10th. Tigress Financial lifted their target price on shares of Alphabet from $176.00 to $210.00 and gave the company a “strong-buy” rating in a research note on Friday, May 24th. Finally, Jefferies Financial Group boosted their price objective on shares of Alphabet from $215.00 to $220.00 in a research note on Tuesday, July 9th. Six investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $203.74.

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.