ANTIPODES PARTNERS Ltd Lowers Holdings in Alphabet Inc. $GOOGL

ANTIPODES PARTNERS Ltd decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,148,175 shares of the information services provider’s stock after selling 18,723 shares during the period. Alphabet comprises 6.3% of ANTIPODES PARTNERS Ltd’s portfolio, making the stock its 2nd biggest position. ANTIPODES PARTNERS Ltd’s holdings in Alphabet were worth $202,358,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of GOOGL. Vanguard Group Inc. grew its holdings in shares of Alphabet by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock valued at $78,839,544,000 after buying an additional 14,307,345 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Alphabet by 11.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock valued at $6,783,364,000 after acquiring an additional 4,473,901 shares during the period. Invesco Ltd. increased its holdings in shares of Alphabet by 1.4% during the 1st quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider’s stock worth $6,749,806,000 after acquiring an additional 593,345 shares during the last quarter. Deutsche Bank AG raised its holdings in Alphabet by 1.9% in the 1st quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider’s stock valued at $6,153,481,000 after acquiring an additional 727,335 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Alphabet by 0.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider’s stock valued at $5,962,389,000 after purchasing an additional 104,859 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Activity at Alphabet

In other news, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $242.92, for a total transaction of $145,752.00. Following the sale, the director directly owned 5,116 shares in the company, valued at approximately $1,242,778.72. The trade was a 10.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 954 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $282.33, for a total value of $269,342.82. Following the completion of the transaction, the chief accounting officer directly owned 14,517 shares of the company’s stock, valued at $4,098,584.61. This represents a 6.17% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 221,796 shares of company stock worth $53,983,001 over the last 90 days. 11.55% of the stock is currently owned by company insiders.

Alphabet Stock Down 2.8%

GOOGL stock opened at $278.57 on Friday. The firm has a 50-day moving average price of $256.42 and a 200-day moving average price of $207.79. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $292.01. 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 market capitalization of $3.36 trillion, a P/E ratio of 27.47, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) 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 36.08%. The business had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. As a group, equities research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. DZ Bank reissued a “buy” rating on shares of Alphabet in a report on Thursday, October 30th. JPMorgan Chase & Co. boosted their price target on Alphabet from $300.00 to $340.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. New Street Research increased their price target on Alphabet from $275.00 to $295.00 in a research report on Friday, October 24th. Evercore ISI lifted their price objective on Alphabet from $300.00 to $325.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Finally, Phillip Securities upgraded Alphabet from a “moderate buy” rating to a “strong-buy” rating in a research report on Friday, November 7th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-seven have issued a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $304.10.

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.