ING Groep NV Has $434.49 Million Stock Position in Alphabet Inc. $GOOGL

ING Groep NV decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 15.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,787,282 shares of the information services provider’s stock after selling 318,338 shares during the period. Alphabet makes up 2.4% of ING Groep NV’s portfolio, making the stock its 6th biggest position. ING Groep NV’s holdings in Alphabet were worth $434,488,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Financial Gravity Companies Inc. acquired a new position in shares of Alphabet during the 2nd quarter valued at $31,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Alphabet in the third quarter valued at $53,000. Corsicana & Co. bought a new position in Alphabet during the third quarter valued at about $54,000. Sellwood Investment Partners LLC acquired a new position in Alphabet during the third quarter worth about $63,000. Finally, Vermillion & White Wealth Management Group LLC grew its holdings in Alphabet by 37.9% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 324 shares of the information services provider’s stock worth $57,000 after acquiring an additional 89 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GOOGL. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Alphabet from $370.00 to $390.00 and gave the company a “buy” rating in a research report on Thursday, February 5th. President Capital increased their target price on shares of Alphabet from $323.00 to $375.00 and gave the company a “buy” rating in a research note on Tuesday, February 10th. Jefferies Financial Group lifted their price target on shares of Alphabet from $365.00 to $400.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Phillip Securities raised Alphabet from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, November 7th. Finally, New Street Research increased their price objective on Alphabet from $330.00 to $380.00 and gave the company a “buy” rating in a research report on Tuesday, February 10th. Three equities research analysts have rated the stock with a Strong Buy rating, forty-three have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $366.57.

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More Alphabet News

Here are the key news stories impacting Alphabet this week:

Alphabet Trading Up 0.7%

Shares of NASDAQ GOOGL opened at $313.00 on Thursday. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.11. Alphabet Inc. has a one year low of $140.53 and a one year high of $349.00. The business has a 50-day moving average price of $320.80 and a two-hundred day moving average price of $281.27. The firm has a market capitalization of $3.79 trillion, a PE ratio of 28.95, a PEG ratio of 1.82 and a beta of 1.09.

Alphabet (NASDAQ:GOOGLGet Free Report) last issued its earnings results on Wednesday, February 4th. The information services provider reported $2.82 earnings per share for the quarter, beating analysts’ consensus estimates of $2.57 by $0.25. The company had revenue of $113.83 billion for the quarter, compared to the consensus estimate of $111.24 billion. Alphabet had a return on equity of 35.01% and a net margin of 32.81%. As a group, analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 9th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, March 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is 7.77%.

Insider Activity at Alphabet

In other news, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction on Friday, February 13th. The shares were sold at an average price of $306.73, for a total value of $184,038.00. Following the transaction, the director directly owned 20,624 shares of the company’s stock, valued at approximately $6,325,999.52. This represents a 2.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder 2017 Gp L.L.C. Gv sold 1,845,308 shares of the stock in a transaction on Friday, January 30th. The stock was sold at an average price of $19.00, for a total value of $35,060,852.00. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 2,112,482 shares of company stock worth $119,145,289. 11.64% of the stock is currently owned by company insiders.

Alphabet 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.

Further Reading

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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