Elo Mutual Pension Insurance Co Trims Holdings in Alphabet Inc. $GOOG

Elo Mutual Pension Insurance Co decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 17.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 404,774 shares of the information services provider’s stock after selling 88,507 shares during the period. Alphabet accounts for about 1.5% of Elo Mutual Pension Insurance Co’s holdings, making the stock its 11th largest holding. Elo Mutual Pension Insurance Co’s holdings in Alphabet were worth $71,803,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. IFS Advisors LLC lifted its stake in Alphabet by 400.0% in the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after acquiring an additional 120 shares during the period. Robbins Farley raised its holdings in Alphabet by 60.0% in the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after purchasing an additional 60 shares in the last quarter. WestEnd Advisors LLC lifted its position in shares of Alphabet by 58.7% in the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after purchasing an additional 61 shares during the period. Fairman Group LLC boosted its stake in shares of Alphabet by 121.3% during the 2nd quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after purchasing an additional 97 shares in the last quarter. Finally, University of Illinois Foundation bought a new stake in shares of Alphabet during the 2nd quarter valued at about $31,000. 27.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have commented on GOOG shares. Rosenblatt Securities set a $279.00 price objective on shares of Alphabet in a report on Thursday, October 30th. Loop Capital raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 18th. Robert W. Baird lifted their price target on Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a research report on Monday, September 22nd. Raymond James Financial set a $275.00 price target on Alphabet and gave the stock an “outperform” rating in a research note on Friday, October 24th. Finally, KeyCorp reissued an “overweight” rating and set a $330.00 price objective on shares of Alphabet in a research report on Thursday, October 30th. Seven analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $324.81.

Alphabet Stock Up 6.3%

Shares of NASDAQ:GOOG opened at $318.47 on Tuesday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a fifty day simple moving average of $264.32 and a two-hundred day simple moving average of $215.82. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $319.80. The stock has a market capitalization of $3.84 trillion, a price-to-earnings ratio of 31.41, a PEG ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.58. The firm had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The company’s revenue was up 15.9% on a year-over-year basis. During the same period last year, the company earned $2.12 earnings per share. On average, research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s payout ratio is 8.28%.

Insiders Place Their Bets

In other news, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction that occurred on Monday, September 29th. The shares were 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 in the company, valued at approximately $10,635,348.70. This represents a 29.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the sale, the chief executive officer directly owned 2,369,619 shares of the company’s stock, valued at $592,760,192.85. This trade represents a 1.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 227,952 shares of company stock valued at $58,896,009. Insiders own 12.99% of the company’s stock.

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.