Alphabet Inc. $GOOGL Shares Acquired by Te Ahumairangi Investment Management Ltd

Te Ahumairangi Investment Management Ltd boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 20.4% during the second quarter, Holdings Channel reports. The institutional investor owned 145,519 shares of the information services provider’s stock after acquiring an additional 24,630 shares during the quarter. Alphabet comprises about 4.6% of Te Ahumairangi Investment Management Ltd’s investment portfolio, making the stock its 4th biggest position. Te Ahumairangi Investment Management Ltd’s holdings in Alphabet were worth $25,645,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

Several research analysts have recently commented on GOOGL shares. Barclays reissued an “overweight” rating and issued a $315.00 target price (up from $250.00) on shares of Alphabet in a report on Thursday, October 30th. Guggenheim reissued a “buy” rating and issued a $375.00 price objective (up previously from $330.00) on shares of Alphabet in a research note on Monday, December 1st. Citigroup restated a “buy” rating and issued a $343.00 target price (up from $280.00) on shares of Alphabet in a research note on Thursday, October 30th. Phillip Securities raised Alphabet from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, November 7th. Finally, Wolfe Research restated an “outperform” rating and issued a $350.00 price objective (up previously from $290.00) on shares of Alphabet in a research report on Thursday, October 30th. Four equities research analysts have rated the stock with a Strong Buy rating, forty-one have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $312.65.

Alphabet Stock Performance

Alphabet stock opened at $321.27 on Friday. The company has a market cap of $3.88 trillion, a PE ratio of 31.68, a PEG ratio of 1.86 and a beta of 1.07. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $328.83. The company’s 50-day moving average is $276.15 and its two-hundred day moving average is $224.51.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping 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 business had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Equities analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be paid a $0.21 dividend. 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 dividend payout ratio is 8.28%.

Insider Activity

In other Alphabet news, insider John Kent Walker sold 17,816 shares of the stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the transaction, the insider owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. This represents a 29.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the transaction, the chief accounting officer owned 17,293 shares in the company, valued at approximately $4,236,785. This trade represents a 13.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 226,128 shares of company stock valued at $61,326,372 in the last 90 days. 11.64% of the stock is owned by company insiders.

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.