Freemont Management S.A. Has $6.54 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Freemont Management S.A. reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 83.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,900 shares of the information services provider’s stock after selling 176,600 shares during the quarter. Alphabet comprises about 3.1% of Freemont Management S.A.’s portfolio, making the stock its 8th biggest position. Freemont Management S.A.’s holdings in Alphabet were worth $6,539,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of GOOGL. Christopher J. Hasenberg Inc boosted its stake in Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 60 shares during the last quarter. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Alphabet in the 4th quarter valued at $30,000. Tributary Capital Management LLC bought a new position in shares of Alphabet in the 1st quarter worth $30,000. Kings Path Partners LLC acquired a new stake in shares of Alphabet during the second quarter worth $36,000. Finally, Denver PWM LLC bought a new stake in Alphabet in the second quarter valued at about $41,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GOOGL. JPMorgan Chase & Co. boosted their target price on Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Rosenblatt Securities restated a “neutral” rating and set a $181.00 price objective on shares of Alphabet in a report on Wednesday, July 24th. Jefferies Financial Group increased their target price on shares of Alphabet from $215.00 to $220.00 in a report on Tuesday, July 9th. Piper Sandler decreased their price target on shares of Alphabet from $206.00 to $200.00 and set an “overweight” rating for the company in a report on Tuesday, September 10th. Finally, JMP Securities restated a “market outperform” rating and issued a $200.00 price objective on shares of Alphabet in a research report on Monday, September 16th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $201.08.

Alphabet Stock Performance

GOOGL opened at $161.85 on Tuesday. 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 market cap of $2.00 trillion, a price-to-earnings ratio of 24.82, a PEG ratio of 1.13 and a beta of 1.04. Alphabet Inc. has a 12-month low of $120.21 and a 12-month high of $191.75. The business has a 50 day moving average of $164.23 and a 200-day moving average of $165.98.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 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 analysts’ expectations of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same period in the previous year, the business posted $1.44 earnings per share. On average, equities research analysts expect that Alphabet Inc. will post 7.64 earnings per share for the current year.

Alphabet Dividend Announcement

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

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total transaction of $125,126.54. Following the transaction, the chief accounting officer now owns 30,650 shares in the company, valued at $5,623,355.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the transaction, the chief executive officer now directly owns 2,204,885 shares of the company’s stock, valued at $403,141,173.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total value of $125,126.54. Following the completion of the sale, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The disclosure for this sale can be found here. Insiders sold a total of 180,167 shares of company stock worth $29,762,606 over the last quarter. Company insiders own 11.55% of the company’s stock.

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.