Alphabet Inc. $GOOGL is F m Investments LLC’s 7th Largest Position

F m Investments LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.9% in the second quarter, HoldingsChannel.com reports. The fund owned 404,509 shares of the information services provider’s stock after selling 12,254 shares during the period. Alphabet makes up about 2.6% of F m Investments LLC’s investment portfolio, making the stock its 7th biggest position. F m Investments LLC’s holdings in Alphabet were worth $71,287,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Norges Bank purchased a new position in Alphabet in the 2nd quarter valued at about $21,944,208,000. Nuveen LLC acquired a new position in shares of Alphabet during the first quarter valued at approximately $4,317,606,000. Laurel Wealth Advisors LLC lifted its position in shares of Alphabet by 17,667.7% in the second quarter. Laurel Wealth Advisors LLC now owns 15,245,075 shares of the information services provider’s stock valued at $2,686,640,000 after acquiring an additional 15,159,273 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Alphabet by 2.9% in the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock worth $78,839,544,000 after acquiring an additional 14,307,345 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Alphabet by 51.7% during the second quarter. Franklin Resources Inc. now owns 31,817,684 shares of the information services provider’s stock worth $5,607,232,000 after purchasing an additional 10,843,853 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on GOOGL shares. BNP Paribas began coverage on Alphabet in a report on Monday, November 24th. They issued an “outperform” rating and a $355.00 price objective on the stock. Cantor Fitzgerald upped their target price on shares of Alphabet from $265.00 to $310.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. President Capital raised their price target on shares of Alphabet from $258.00 to $323.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Loop Capital upgraded shares of Alphabet from a “hold” rating to a “buy” rating and boosted their price target for the stock from $260.00 to $320.00 in a research report on Tuesday, November 18th. Finally, Wolfe Research reiterated an “outperform” rating and issued a $350.00 price objective (up previously from $290.00) on shares of Alphabet in a report on Thursday, October 30th. Four analysts have rated the stock with a Strong Buy rating, forty-one have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $312.65.

Alphabet Stock Down 2.4%

Shares of NASDAQ GOOGL opened at $313.72 on Tuesday. The company has a market capitalization of $3.79 trillion, a P/E ratio of 30.94, a P/E/G ratio of 1.86 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. The company has a 50 day simple moving average of $277.54 and a 200-day simple moving average of $225.91. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $328.83.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data 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. The company had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a return on equity of 35.00% and a net margin of 32.23%. On average, equities research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently disclosed 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. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio (DPR) is presently 8.28%.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $319.50, for a total value of $10,383,750.00. Following the transaction, the chief executive officer owned 2,272,119 shares of the company’s stock, valued at $725,942,020.50. This represents a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Frances Arnold sold 102 shares of Alphabet stock in a transaction dated 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 of the company’s stock, valued at approximately $5,750,916.64. This represents a 0.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 226,128 shares of company stock valued at $61,326,372 in the last quarter. Corporate insiders own 11.55% of the company’s stock.

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.