Quintet Private Bank Europe S.A. Sells 19,901 Shares of Alphabet Inc. $GOOGL

Quintet Private Bank Europe S.A. lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.8% during the 2nd quarter, Holdings Channel reports. The firm owned 692,459 shares of the information services provider’s stock after selling 19,901 shares during the period. Alphabet makes up about 7.1% of Quintet Private Bank Europe S.A.’s holdings, making the stock its 3rd biggest position. Quintet Private Bank Europe S.A.’s holdings in Alphabet were worth $122,032,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Nuveen LLC purchased a new stake in shares of Alphabet during the first quarter worth approximately $4,317,606,000. GAMMA Investing LLC increased its stake in shares of Alphabet by 16,993.2% during the first quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider’s stock worth $2,483,898,000 after buying an additional 15,968,487 shares during the period. Vanguard Group Inc. increased its stake in shares of Alphabet by 2.9% during the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock worth $78,839,544,000 after buying an additional 14,307,345 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Alphabet by 307.6% during the first quarter. Assenagon Asset Management S.A. now owns 10,302,644 shares of the information services provider’s stock worth $1,593,201,000 after buying an additional 7,774,811 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Alphabet during the fourth quarter worth approximately $1,375,509,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Loop Capital restated a “hold” rating and set a $190.00 target price (up from $165.00) on shares of Alphabet in a research note on Tuesday, August 5th. Westpark Capital increased their price target on shares of Alphabet from $210.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Canaccord Genuity Group increased their price target on shares of Alphabet from $230.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, September 4th. BNP Paribas lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 26th. Finally, Truist Financial reiterated a “buy” rating and issued a $200.00 price target on shares of Alphabet in a research note on Wednesday, July 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $221.44.

Insider Transactions at Alphabet

In other news, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider owned 42,999 shares of the company’s stock, valued at $8,371,905.30. The trade was a 35.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 1,000 shares of Alphabet stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $200.00, for a total value of $200,000.00. Following the sale, the director owned 6,916 shares of the company’s stock, valued at approximately $1,383,200. This represents a 12.63% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 254,710 shares of company stock worth $49,208,380. Corporate insiders own 11.55% of the company’s stock.

Alphabet Trading Up 0.2%

NASDAQ:GOOGL opened at $240.80 on Monday. The company has a market capitalization of $2.91 trillion, a PE ratio of 25.64, a price-to-earnings-growth ratio of 1.62 and a beta of 1.01. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $242.25. The stock has a fifty day simple moving average of $201.89 and a 200-day simple moving average of $177.58.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.16. The business had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. On average, equities research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet’s payout ratio is 8.95%.

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.