Boston Partners Sells 2,640,652 Shares of Alphabet Inc. $GOOGL

Boston Partners decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 40.7% in the second quarter, Holdings Channel.com reports. The institutional investor owned 3,850,215 shares of the information services provider’s stock after selling 2,640,652 shares during the period. Alphabet makes up 0.8% of Boston Partners’ portfolio, making the stock its 27th largest holding. Boston Partners’ holdings in Alphabet were worth $681,376,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. NBZ Investment Advisors LLC boosted its holdings in Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after purchasing an additional 90 shares during the last quarter. Financial Gravity Companies Inc. purchased a new stake in Alphabet during the 2nd quarter valued at $31,000. CarsonAllaria Wealth Management Ltd. lifted its holdings in shares of Alphabet by 36.4% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock valued at $44,000 after buying an additional 67 shares during the period. Christopher J. Hasenberg Inc boosted its stake in shares of Alphabet by 77.6% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 348 shares of the information services provider’s stock worth $61,000 after buying an additional 152 shares during the last quarter. Finally, S&T Bank PA grew its holdings in shares of Alphabet by 40.2% in the second quarter. S&T Bank PA now owns 345 shares of the information services provider’s stock worth $61,000 after acquiring an additional 99 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $321.27 on Friday. The stock has a market cap of $3.88 trillion, a PE ratio of 31.68, a price-to-earnings-growth ratio of 1.86 and a beta of 1.07. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $328.83. The firm has a fifty day moving average price of $276.15 and a 200-day moving average price of $224.51. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.75.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. The company had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Equities analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be given a dividend of $0.21 per share. The ex-dividend date 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 currently 8.28%.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of a number of recent research reports. Mizuho set a $325.00 target price on Alphabet in a report on Thursday, October 30th. Truist Financial set a $350.00 price target on shares of Alphabet and gave the company a “buy” rating in a research report on Friday. Oppenheimer raised their price objective on shares of Alphabet from $270.00 to $300.00 and gave the stock an “outperform” rating in a report on Monday, October 20th. Wall Street Zen raised shares of Alphabet from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. Finally, Wolfe Research reiterated an “outperform” rating and issued a $350.00 price target (up from $290.00) on shares of Alphabet in a research report on Thursday, October 30th. Four research analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $312.65.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $280.06, for a total transaction of $168,036.00. Following the sale, the director owned 4,516 shares in the company, valued at $1,264,750.96. This trade represents a 11.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Frances Arnold sold 102 shares of the business’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $317.66, for a total transaction of $32,401.32. Following the completion of the transaction, the director directly owned 18,104 shares in the company, valued at $5,750,916.64. This trade represents a 0.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 226,128 shares of company stock worth $61,326,372 over the last quarter. Company insiders own 11.64% of the company’s stock.

Alphabet Profile

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.