Alphabet Inc. $GOOGL is General Pension Society PZU Joint Stock Co’s 5th Largest Position

General Pension Society PZU Joint Stock Co decreased its position in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 9.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 126,240 shares of the information services provider’s stock after selling 13,000 shares during the quarter. Alphabet comprises 8.0% of General Pension Society PZU Joint Stock Co’s investment portfolio, making the stock its 5th largest holding. General Pension Society PZU Joint Stock Co’s holdings in Alphabet were worth $39,513,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in GOOGL. Brighton Jones LLC increased its stake in shares of Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after purchasing an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake in shares of Alphabet by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock valued at $2,826,000 after purchasing an additional 506 shares during the last quarter. Matrix Asset Advisors Inc. NY boosted its holdings in Alphabet by 17.6% in the second quarter. Matrix Asset Advisors Inc. NY now owns 3,888 shares of the information services provider’s stock worth $685,000 after purchasing an additional 581 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in Alphabet by 11.2% in the second quarter. Sequoia Financial Advisors LLC now owns 485,486 shares of the information services provider’s stock worth $85,557,000 after purchasing an additional 48,805 shares in the last quarter. Finally, United Bank increased its position in Alphabet by 6.9% during the second quarter. United Bank now owns 48,204 shares of the information services provider’s stock worth $8,495,000 after buying an additional 3,120 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Activity

In other news, Director Frances Arnold sold 102 shares of the firm’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $381.00, for a total transaction of $38,862.00. Following the completion of the transaction, the director directly owned 18,721 shares of the company’s stock, valued at approximately $7,132,701. This trade represents a 0.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 617 shares of Alphabet stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $289.63, for a total transaction of $178,701.71. Following the sale, the chief accounting officer owned 10,093 shares in the company, valued at approximately $2,923,235.59. This trade represents a 5.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 193,016 shares of company stock valued at $17,282,549. 11.61% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on GOOGL shares. Evercore upped their price target on Alphabet from $400.00 to $420.00 and gave the stock an “outperform” rating in a research note on Thursday, April 30th. New Street Research raised their price objective on Alphabet from $450.00 to $455.00 and gave the company a “buy” rating in a research note on Friday. China Renaissance boosted their target price on Alphabet from $400.00 to $485.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Guggenheim reaffirmed a “buy” rating and set a $450.00 target price (up from $375.00) on shares of Alphabet in a research report on Thursday, April 30th. Finally, Piper Sandler reissued an “overweight” rating and issued a $445.00 price target (up from $425.00) on shares of Alphabet in a research report on Monday, June 1st. Two analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $413.13.

View Our Latest Stock Analysis on GOOGL

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

Alphabet Stock Down 1.0%

NASDAQ GOOGL opened at $368.53 on Friday. Alphabet Inc. has a twelve month low of $162.00 and a twelve month high of $408.61. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92. The stock has a market cap of $4.47 trillion, a PE ratio of 28.11, a PEG ratio of 1.58 and a beta of 1.23. The firm has a 50-day simple moving average of $352.70 and a 200 day simple moving average of $327.81.

Alphabet (NASDAQ:GOOGLGet Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The information services provider reported $5.11 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $2.47. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The company had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.98 billion. On average, research analysts forecast that Alphabet Inc. will post 14.29 EPS for the current year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 8th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.2%. This is an increase from Alphabet’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Monday, June 8th. Alphabet’s dividend payout ratio (DPR) is 6.41%.

Alphabet Profile

(Free Report)

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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