PKO Investment Management Joint Stock Co Sells 2,000 Shares of Alphabet Inc. $GOOGL

PKO Investment Management Joint Stock Co lowered its stake in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 2.6% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 76,000 shares of the information services provider’s stock after selling 2,000 shares during the period. Alphabet makes up 1.8% of PKO Investment Management Joint Stock Co’s portfolio, making the stock its 12th largest holding. PKO Investment Management Joint Stock Co’s holdings in Alphabet were worth $21,855,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of GOOGL. Norges Bank acquired a new position in shares of Alphabet in the fourth quarter valued at approximately $30,534,239,000. Berkshire Hathaway Inc acquired a new stake in Alphabet during the 3rd quarter worth approximately $4,338,397,000. Cardano Risk Management B.V. boosted its stake in Alphabet by 855.3% in the 4th quarter. Cardano Risk Management B.V. now owns 14,525,280 shares of the information services provider’s stock valued at $4,546,413,000 after purchasing an additional 13,004,828 shares during the period. Vanguard Group Inc. boosted its stake in Alphabet by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 528,969,322 shares of the information services provider’s stock valued at $165,567,398,000 after purchasing an additional 12,531,695 shares during the period. Finally, Capital World Investors boosted its stake in Alphabet by 28.0% in the 3rd quarter. Capital World Investors now owns 53,107,572 shares of the information services provider’s stock valued at $12,910,542,000 after purchasing an additional 11,605,785 shares during the period. 40.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on GOOGL shares. UBS Group reiterated a “neutral” rating on shares of Alphabet in a research report on Wednesday, May 20th. Citigroup restated an “outperform” rating on shares of Alphabet in a research note on Monday, May 4th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $390.00 price target (up from $345.00) on shares of Alphabet in a research report on Thursday, April 30th. Wolfe Research dropped their price objective on shares of Alphabet from $390.00 to $360.00 and set an “outperform” rating for the company in a research note on Friday, April 10th. Finally, Cantor Fitzgerald boosted their price objective on shares of Alphabet from $395.00 to $465.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $413.13.

Check Out Our Latest Research Report on GOOGL

Insider Activity

In other news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of Alphabet stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $23.75, for a total value of $2,077,531.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 1,050 shares of the business’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $393.26, for a total value of $412,923.00. Following the completion of the transaction, the director directly owned 2,531 shares in the company, valued at $995,341.06. This represents a 29.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 151,523 shares of company stock worth $4,863,526 in the last three months. Corporate insiders own 11.61% of the company’s stock.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

Alphabet Price Performance

Alphabet stock opened at $337.39 on Friday. The stock’s 50 day moving average is $368.94 and its 200 day moving average is $332.88. Alphabet Inc. has a one year low of $171.73 and a one year high of $408.61. The firm has a market cap of $4.09 trillion, a P/E ratio of 25.74, a P/E/G ratio of 1.47 and a beta of 1.23. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92.

Alphabet (NASDAQ:GOOGLGet Free Report) last released its earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.64 by $2.47. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The business had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.98 billion. As a group, research analysts expect that Alphabet Inc. will post 14.3 EPS for the current year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were paid a dividend of $0.22 per share. This is a boost from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, June 8th. Alphabet’s payout ratio is 6.71%.

Alphabet Company 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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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