Elo Mutual Pension Insurance Co Lowers Stake in Alphabet Inc. (NASDAQ:GOOGL)

Elo Mutual Pension Insurance Co trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 540,138 shares of the information services provider’s stock after selling 18,121 shares during the quarter. Alphabet comprises about 2.2% of Elo Mutual Pension Insurance Co’s portfolio, making the stock its 7th biggest holding. Elo Mutual Pension Insurance Co’s holdings in Alphabet were worth $102,248,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Alphabet by 6.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 13,533,154 shares of the information services provider’s stock worth $2,595,524,000 after acquiring an additional 855,246 shares in the last quarter. Tyler Stone Wealth Management lifted its stake in Alphabet by 5.7% during the fourth quarter. Tyler Stone Wealth Management now owns 32,509 shares of the information services provider’s stock worth $6,154,000 after purchasing an additional 1,754 shares during the last quarter. Aviso Wealth Management boosted its holdings in shares of Alphabet by 2.0% in the 4th quarter. Aviso Wealth Management now owns 44,444 shares of the information services provider’s stock valued at $8,413,000 after purchasing an additional 861 shares in the last quarter. Heritage Wealth Advisors increased its stake in shares of Alphabet by 0.9% in the 4th quarter. Heritage Wealth Advisors now owns 28,360 shares of the information services provider’s stock valued at $5,369,000 after purchasing an additional 257 shares during the last quarter. Finally, Rovida Advisors Inc. raised its holdings in shares of Alphabet by 325.0% during the 4th quarter. Rovida Advisors Inc. now owns 106,250 shares of the information services provider’s stock worth $20,115,000 after buying an additional 81,250 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 2,834 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $194.32, for a total value of $550,702.88. Following the completion of the sale, the chief accounting officer now directly owns 17,847 shares of the company’s stock, valued at approximately $3,468,029.04. This represents a 13.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $189.80, for a total transaction of $284,700.00. Following the completion of the sale, the director now owns 21,824 shares of the company’s stock, valued at approximately $4,142,195.20. This trade represents a 6.43 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 119,797 shares of company stock worth $21,089,470. 11.55% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on GOOGL. Robert W. Baird reiterated an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a research report on Tuesday, December 10th. Needham & Company LLC reiterated a “buy” rating and set a $225.00 price objective on shares of Alphabet in a research report on Wednesday, February 5th. DA Davidson raised their target price on shares of Alphabet from $190.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. KeyCorp lowered their price target on shares of Alphabet from $220.00 to $202.00 and set an “overweight” rating for the company in a report on Tuesday, March 18th. Finally, Wolfe Research raised their price objective on Alphabet from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and five have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $209.13.

Alphabet Stock Performance

NASDAQ GOOGL opened at $145.60 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a fifty day simple moving average of $175.15 and a 200 day simple moving average of $176.81. Alphabet Inc. has a 12-month low of $145.38 and a 12-month high of $207.05. The company has a market cap of $1.77 trillion, a P/E ratio of 18.09, a PEG ratio of 1.34 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Sell-side analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were given a dividend of $0.20 per share. The ex-dividend date was Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.55%. Alphabet’s payout ratio is 9.94%.

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.