Elo Mutual Pension Insurance Co Decreases Stock Holdings in Alphabet Inc. $GOOGL

Elo Mutual Pension Insurance Co lessened its stake in Alphabet Inc. (NASDAQ:GOOGL) by 12.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 482,206 shares of the information services provider’s stock after selling 66,140 shares during the quarter. Alphabet comprises 1.7% of Elo Mutual Pension Insurance Co’s investment portfolio, making the stock its 9th biggest position. Elo Mutual Pension Insurance Co’s holdings in Alphabet were worth $84,979,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Financial Gravity Companies Inc. bought a new stake in shares of Alphabet during the 2nd quarter worth approximately $31,000. NBZ Investment Advisors LLC raised its position in Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after purchasing an additional 90 shares in the last quarter. CarsonAllaria Wealth Management Ltd. lifted its stake in Alphabet by 36.4% during the second quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock worth $44,000 after purchasing an additional 67 shares during the last quarter. S&T Bank PA boosted its holdings in shares of Alphabet by 40.2% in the 2nd quarter. S&T Bank PA now owns 345 shares of the information services provider’s stock valued at $61,000 after purchasing an additional 99 shares in the last quarter. Finally, Christopher J. Hasenberg Inc increased 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 valued at $61,000 after purchasing an additional 152 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In other Alphabet news, insider John Kent Walker sold 17,816 shares of the stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the sale, the insider owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. This represents a 29.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $243.41, for a total transaction of $7,910,825.00. Following the completion of the transaction, the chief executive officer owned 2,402,119 shares in the company, valued at $584,699,785.79. This trade represents a 1.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 226,128 shares of company stock worth $61,326,372 over the last ninety days. 11.64% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on GOOGL. Wells Fargo & Company upped their price objective on Alphabet from $236.00 to $268.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 30th. KeyCorp reissued an “overweight” rating and set a $300.00 target price (up previously from $265.00) on shares of Alphabet in a research note on Monday, October 27th. Rosenblatt Securities raised their price target on shares of Alphabet from $224.00 to $279.00 and gave the company a “neutral” rating in a research note on Thursday, October 30th. Barclays reiterated an “overweight” rating and set a $315.00 price objective (up from $250.00) on shares of Alphabet in a research report on Thursday, October 30th. Finally, Bank of America raised their target price on shares of Alphabet from $280.00 to $335.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Four investment analysts have rated the stock with a Strong Buy rating, forty-one have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $312.65.

Alphabet Trading Up 1.1%

Shares of NASDAQ GOOGL opened at $321.27 on Friday. The firm has a 50 day moving average price of $276.15 and a two-hundred day moving average price of $224.51. The stock has a market cap of $3.88 trillion, a P/E ratio of 31.68, a price-to-earnings-growth ratio of 1.86 and a beta of 1.07. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $328.83. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 1.75.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. The company had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. As a group, equities analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be paid a $0.21 dividend. 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 is presently 8.28%.

Alphabet Company 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.