Lingotto Investment Management LLP Lowers Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Lingotto Investment Management LLP decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 58.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,597 shares of the information services provider’s stock after selling 37,189 shares during the period. Lingotto Investment Management LLP’s holdings in Alphabet were worth $4,845,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Christopher J. Hasenberg Inc grew its stake in shares of Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares in the last quarter. Vermillion & White Wealth Management Group LLC acquired a new position in Alphabet in the fourth quarter valued at approximately $30,000. Tributary Capital Management LLC acquired a new position in shares of Alphabet in the 1st quarter valued at $30,000. Kings Path Partners LLC acquired a new position in Alphabet in the second quarter valued at $36,000. Finally, Denver PWM LLC purchased a new position in shares of Alphabet during the second quarter worth about $41,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the sale, the chief accounting officer now owns 31,334 shares in the company, valued at $5,264,112. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the transaction, the chief accounting officer now owns 31,334 shares in the company, valued at approximately $5,264,112. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the sale, the senior vice president now owns 312,210 shares in the company, valued at approximately $50,765,346. The disclosure for this sale can be found here. Insiders sold a total of 193,725 shares of company stock worth $31,933,031 in the last 90 days. 11.55% of the stock is owned by corporate insiders.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $166.99 on Wednesday. The business has a 50-day moving average of $162.22 and a two-hundred day moving average of $167.02. The firm has a market capitalization of $2.06 trillion, a PE ratio of 25.61, a P/E/G ratio of 1.21 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. Alphabet Inc. has a 12 month low of $120.21 and a 12 month high of $191.75.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter in the prior year, the company earned $1.44 EPS. As a group, research analysts forecast that Alphabet Inc. will post 7.63 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. Alphabet’s dividend payout ratio is currently 12.27%.

Analyst Upgrades and Downgrades

GOOGL has been the topic of a number of research reports. Citigroup raised their price target on Alphabet from $190.00 to $212.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. DA Davidson assumed coverage on shares of Alphabet in a research report on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price target for the company. Rosenblatt Securities reiterated a “neutral” rating and set a $181.00 price target on shares of Alphabet in a research note on Wednesday, July 24th. Mizuho lifted their price objective on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Finally, Morgan Stanley reduced their target price on shares of Alphabet from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Tuesday, September 3rd. Eight research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $201.35.

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.