Alphabet Inc. (NASDAQ:GOOGL) is DoubleLine ETF Adviser LP’s 4th Largest Position

DoubleLine ETF Adviser LP cut its stake in Alphabet Inc. (NASDAQ:GOOGL) by 4.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 75,002 shares of the information services provider’s stock after selling 3,143 shares during the quarter. Alphabet comprises about 3.6% of DoubleLine ETF Adviser LP’s portfolio, making the stock its 4th biggest position. DoubleLine ETF Adviser LP’s holdings in Alphabet were worth $13,662,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in GOOGL. Personal CFO Solutions LLC grew its holdings in Alphabet by 4.6% in the fourth quarter. Personal CFO Solutions LLC now owns 58,906 shares of the information services provider’s stock worth $8,229,000 after purchasing an additional 2,592 shares during the last quarter. Natixis Investment Managers International grew its stake in Alphabet by 13.4% during the 4th quarter. Natixis Investment Managers International now owns 323,823 shares of the information services provider’s stock worth $45,235,000 after buying an additional 38,371 shares during the last quarter. OLD Point Trust & Financial Services N A increased its position in Alphabet by 256.6% during the 4th quarter. OLD Point Trust & Financial Services N A now owns 7,560 shares of the information services provider’s stock valued at $1,056,000 after buying an additional 5,440 shares in the last quarter. Infusive Asset Management Inc. increased its position in Alphabet by 13.2% during the 4th quarter. Infusive Asset Management Inc. now owns 134,268 shares of the information services provider’s stock valued at $18,756,000 after buying an additional 15,632 shares in the last quarter. Finally, Mosley Wealth Management acquired a new stake in Alphabet in the fourth quarter worth about $555,000. 40.03% of the stock is owned by institutional investors.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total transaction of $230,804.28. Following the transaction, the chief accounting officer now owns 29,183 shares in the company, valued at $4,927,257.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total transaction of $230,804.28. Following the completion of the sale, the chief accounting officer now owns 29,183 shares in the company, valued at $4,927,257.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 700 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $165.00, for a total transaction of $115,500.00. Following the transaction, the director now directly owns 29,324 shares in the company, valued at $4,838,460. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 217,592 shares of company stock valued at $35,922,911. Insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL opened at $162.98 on Tuesday. The company has a market capitalization of $2.01 trillion, a price-to-earnings ratio of 25.00, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a 52-week low of $120.21 and a 52-week high of $191.75. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock has a 50 day moving average price of $162.06 and a 200 day moving average price of $167.41.

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

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date was Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

Wall Street Analyst Weigh In

GOOGL has been the subject of several research reports. Royal Bank of Canada lifted their price objective on shares of Alphabet from $200.00 to $204.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Wolfe Research started coverage on shares of Alphabet in a report on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 price target on the stock. TD Securities lifted their price objective on Alphabet from $200.00 to $220.00 in a research note on Wednesday, July 10th. Mizuho upped their target price on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Finally, Jefferies Financial Group lifted their price target on Alphabet from $215.00 to $220.00 in a research report on Tuesday, July 9th. Eight research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $201.14.

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.