BLI Banque de Luxembourg Investments Cuts Stake in Alphabet Inc. $GOOGL

BLI Banque de Luxembourg Investments lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 663,530 shares of the information services provider’s stock after selling 5,750 shares during the period. Alphabet accounts for about 3.4% of BLI Banque de Luxembourg Investments’ investment portfolio, making the stock its 3rd biggest holding. BLI Banque de Luxembourg Investments’ holdings in Alphabet were worth $118,430,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Bridgeway Capital Management LLC increased its position in shares of Alphabet by 17.9% during the 1st quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock worth $13,637,000 after purchasing an additional 13,371 shares during the last quarter. Alaethes Wealth LLC grew its stake in shares of Alphabet by 1.1% in the first quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock valued at $1,182,000 after buying an additional 84 shares in the last quarter. Moment Partners LLC grew its stake in shares of Alphabet by 9.3% in the second quarter. Moment Partners LLC now owns 5,896 shares of the information services provider’s stock valued at $1,039,000 after buying an additional 504 shares in the last quarter. Welch Group LLC increased its holdings in Alphabet by 4.0% during the second quarter. Welch Group LLC now owns 64,262 shares of the information services provider’s stock worth $11,325,000 after buying an additional 2,467 shares during the last quarter. Finally, Elgethun Capital Management raised its position in Alphabet by 4.8% during the first quarter. Elgethun Capital Management now owns 8,487 shares of the information services provider’s stock worth $1,312,000 after acquiring an additional 390 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Frances Arnold sold 102 shares of the stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $317.66, for a total transaction of $32,401.32. Following the sale, the director owned 18,104 shares in the company, valued at approximately $5,750,916.64. This trade represents a 0.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $319.50, for a total transaction of $10,383,750.00. Following the completion of the transaction, the chief executive officer directly owned 2,272,119 shares in the company, valued at $725,942,020.50. This trade represents a 1.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 226,128 shares of company stock worth $61,326,372. Insiders own 11.55% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $317.08 on Wednesday. The business has a fifty day moving average price of $279.02 and a two-hundred day moving average price of $226.96. The stock has a market capitalization of $3.83 trillion, a PE ratio of 31.27, a P/E/G ratio of 1.82 and a beta of 1.07. 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 Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $328.83.

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. Alphabet had a return on equity of 35.00% and a net margin of 32.23%.The company had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. As a group, equities analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be given a $0.21 dividend. The ex-dividend date is Monday, December 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s payout ratio is presently 8.28%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GOOGL. Stifel Nicolaus set a $333.00 price objective on shares of Alphabet in a research report on Thursday, October 30th. Daiwa Capital Markets lifted their price target on Alphabet from $233.00 to $333.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Wall Street Zen raised Alphabet from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. Truist Financial set a $350.00 price objective on Alphabet and gave the company a “buy” rating in a research report on Friday. Finally, HSBC raised their target price on shares of Alphabet from $335.00 to $370.00 and gave the stock a “buy” rating in a research note on Tuesday, December 2nd. Four analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $312.65.

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.