Alphabet Inc. (NASDAQ:GOOGL) is Quintet Private Bank Europe S.A.’s 3rd Largest Position

Quintet Private Bank Europe S.A. lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 13.9% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 587,363 shares of the information services provider’s stock after purchasing an additional 71,651 shares during the quarter. Alphabet comprises approximately 5.6% of Quintet Private Bank Europe S.A.’s holdings, making the stock its 3rd largest holding. Quintet Private Bank Europe S.A.’s holdings in Alphabet were worth $97,414,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its position in Alphabet by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock worth $75,144,172,000 after acquiring an additional 4,064,073 shares in the last quarter. Capital Research Global Investors lifted its position in Alphabet by 14.4% during the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock worth $8,724,251,000 after acquiring an additional 7,275,757 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Alphabet by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock worth $9,011,412,000 after acquiring an additional 238,403 shares in the last quarter. Capital World Investors lifted its position in Alphabet by 1.7% during the 1st quarter. Capital World Investors now owns 35,412,299 shares of the information services provider’s stock worth $5,344,778,000 after acquiring an additional 597,756 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in Alphabet by 1.8% during the 2nd quarter. American Century Companies Inc. now owns 23,465,190 shares of the information services provider’s stock worth $4,274,184,000 after acquiring an additional 418,204 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Activity

In other news, Director Frances Arnold sold 441 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the sale, the director now owns 16,490 shares in the company, valued at $2,820,779.40. This represents a 2.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the sale, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at approximately $5,136,807.48. This represents a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 206,795 shares of company stock worth $34,471,141 over the last 90 days. 11.55% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on GOOGL shares. Guggenheim upped their target price on Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Loop Capital upped their target price on Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Morgan Stanley upped their target price on Alphabet from $190.00 to $205.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Roth Mkm upped their target price on Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Bank of America upped their target price on Alphabet from $206.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $205.90.

Alphabet Trading Down 1.8 %

NASDAQ:GOOGL opened at $172.49 on Monday. Alphabet Inc. has a 1 year low of $127.90 and a 1 year high of $191.75. The stock has a market cap of $2.11 trillion, a price-to-earnings ratio of 22.88, a PEG ratio of 1.23 and a beta of 1.03. The business has a fifty day moving average of $165.61 and a 200-day moving average of $170.22. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the prior year, the firm posted $1.55 earnings per share. Equities analysts predict that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. Alphabet’s dividend payout ratio (DPR) is 10.61%.

About Alphabet

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.