782,718 Shares in Alphabet Inc. $GOOGL Bought by Aware Super Pty Ltd as trustee of Aware Super

Aware Super Pty Ltd as trustee of Aware Super bought a new position in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 782,718 shares of the information services provider’s stock, valued at approximately $225,078,000. Alphabet makes up about 3.4% of Aware Super Pty Ltd as trustee of Aware Super’s investment portfolio, making the stock its 4th largest holding.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC grew its position in shares of Alphabet by 3.9% during the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after acquiring an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC boosted its stake in Alphabet by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after purchasing an additional 506 shares during the period. Matrix Asset Advisors Inc. NY boosted its stake in Alphabet by 17.6% during the 2nd quarter. Matrix Asset Advisors Inc. NY now owns 3,888 shares of the information services provider’s stock worth $685,000 after purchasing an additional 581 shares during the period. Sequoia Financial Advisors LLC grew its position in Alphabet by 11.2% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 485,486 shares of the information services provider’s stock worth $85,557,000 after purchasing an additional 48,805 shares during the last quarter. Finally, United Bank increased its stake in Alphabet by 6.9% in the second quarter. United Bank now owns 48,204 shares of the information services provider’s stock valued at $8,495,000 after purchasing an additional 3,120 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $319.74 on Monday. Alphabet Inc. has a 52-week low of $187.82 and a 52-week high of $408.61. The company has a quick ratio of 2.64, a current ratio of 2.72 and a debt-to-equity ratio of 0.16. The stock has a fifty day simple moving average of $362.93 and a 200-day simple moving average of $338.90. The company has a market capitalization of $3.87 trillion, a PE ratio of 16.06, a price-to-earnings-growth ratio of 1.06 and a beta of 1.24.

Alphabet (NASDAQ:GOOGLGet Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share for the quarter, topping the consensus estimate of $2.89 by $6.22. The company had revenue of $119.80 billion during the quarter, compared to the consensus estimate of $117.07 billion. Alphabet had a return on equity of 51.32% and a net margin of 54.77%. On average, equities research analysts expect that Alphabet Inc. will post 17.59 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Monday, September 7th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Friday, September 4th. Alphabet’s dividend payout ratio is presently 4.42%.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 1,050 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $368.63, for a total transaction of $387,061.50. Following the transaction, the director owned 1,481 shares of the company’s stock, valued at $545,941.03. This trade represents a 41.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Marsida Saraci sold 449 shares of the stock in a transaction on Friday, June 26th. The stock was sold at an average price of $341.72, for a total value of $153,432.28. Following the completion of the transaction, the chief accounting officer directly owned 27,348 shares in the company, valued at $9,345,358.56. This trade represents a 1.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 159,415 shares of company stock valued at $7,672,279. 11.61% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on GOOGL shares. President Capital boosted their price target on Alphabet from $375.00 to $465.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Alphabet in a research report on Monday, May 4th. BMO Capital Markets set a $465.00 target price on Alphabet and gave the company an “outperform” rating in a research note on Thursday. KeyCorp boosted their target price on Alphabet from $425.00 to $445.00 and gave the company an “overweight” rating in a report on Friday, July 10th. Finally, Wall Street Zen upgraded Alphabet from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Five investment analysts have rated the stock with a Strong Buy rating, forty-five have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Alphabet presently has an average rating of “Buy” and a consensus target price of $419.86.

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About Alphabet

(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

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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