Alphabet Inc. (NASDAQ:GOOGL) is Gulf International Bank UK Ltd’s 6th Largest Position

Gulf International Bank UK Ltd grew its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 1.8% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 502,341 shares of the information services provider’s stock after buying an additional 8,646 shares during the period. Alphabet accounts for approximately 1.9% of Gulf International Bank UK Ltd’s portfolio, making the stock its 6th largest position. Gulf International Bank UK Ltd’s holdings in Alphabet were worth $75,818,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Alphabet by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock worth $68,980,354,000 after purchasing an additional 6,374,756 shares in the last quarter. FMR LLC grew its position in Alphabet by 5.6% during the third quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock worth $29,746,764,000 after buying an additional 12,070,681 shares during the period. Norges Bank acquired a new position in Alphabet during the fourth quarter worth about $15,441,917,000. Northern Trust Corp grew its position in Alphabet by 3.7% during the third quarter. Northern Trust Corp now owns 67,684,197 shares of the information services provider’s stock worth $8,857,154,000 after buying an additional 2,416,328 shares during the period. Finally, Fisher Asset Management LLC grew its position in Alphabet by 3.4% during the fourth quarter. Fisher Asset Management LLC now owns 45,220,857 shares of the information services provider’s stock worth $6,316,902,000 after buying an additional 1,472,043 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on GOOGL. Jefferies Financial Group upped their target price on shares of Alphabet from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Canaccord Genuity Group upped their target price on shares of Alphabet from $190.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Piper Sandler restated an “overweight” rating and set a $200.00 target price (up from $160.00) on shares of Alphabet in a research report on Friday, April 26th. Stifel Nicolaus reiterated a “buy” rating and issued a $196.00 price target on shares of Alphabet in a research report on Wednesday, May 15th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $200.00 price target on shares of Alphabet in a research report on Wednesday, May 15th. Five investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $193.26.

Alphabet Stock Performance

Shares of GOOGL stock opened at $179.63 on Friday. The company’s fifty day simple moving average is $170.05 and its 200-day simple moving average is $152.56. Alphabet Inc. has a 52 week low of $115.35 and a 52 week high of $180.85. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. The company has a market cap of $2.22 trillion, a PE ratio of 27.55, a P/E/G ratio of 1.32 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The business had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $66.04 billion. During the same quarter last year, the firm posted $1.17 EPS. As a group, equities research analysts anticipate that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date was Monday, June 10th. Alphabet’s dividend payout ratio is presently 12.27%.

Insider Activity

In related news, insider John Kent Walker sold 12,084 shares of the firm’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $151.19, for a total transaction of $1,826,979.96. Following the completion of the sale, the insider now directly owns 48,717 shares of the company’s stock, valued at approximately $7,365,523.23. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $177.92, for a total transaction of $266,880.00. Following the completion of the sale, the director now directly owns 3,727 shares of the company’s stock, valued at approximately $663,107.84. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John Kent Walker sold 12,084 shares of the firm’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $151.19, for a total transaction of $1,826,979.96. Following the sale, the insider now directly owns 48,717 shares of the company’s stock, valued at $7,365,523.23. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 135,958 shares of company stock valued at $22,383,553. Company 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.