Alphabet Inc. (NASDAQ:GOOGL) Holdings Reduced by Bronte Capital Management Pty Ltd.

Bronte Capital Management Pty Ltd. cut its position in Alphabet Inc. (NASDAQ:GOOGL) by 5.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,003,523 shares of the information services provider’s stock after selling 58,054 shares during the quarter. Alphabet accounts for 15.2% of Bronte Capital Management Pty Ltd.’s holdings, making the stock its largest holding. Bronte Capital Management Pty Ltd.’s holdings in Alphabet were worth $182,792,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Christopher J. Hasenberg Inc lifted its holdings in Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after buying an additional 60 shares during the last quarter. Vermillion & White Wealth Management Group LLC acquired a new position in Alphabet during the 4th quarter worth approximately $30,000. Tributary Capital Management LLC acquired a new stake in shares of Alphabet in the 1st quarter worth approximately $30,000. Kings Path Partners LLC acquired a new stake in shares of Alphabet in the 2nd quarter worth approximately $36,000. Finally, Denver PWM LLC acquired a new stake in Alphabet during the 2nd quarter valued at $41,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on GOOGL shares. Citigroup increased their target price on Alphabet from $190.00 to $212.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. BMO Capital Markets reissued an “outperform” rating and issued a $222.00 target price on shares of Alphabet in a report on Monday, September 16th. Argus lifted their price target on Alphabet from $200.00 to $215.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Rosenblatt Securities reissued a “neutral” rating and set a $181.00 target price on shares of Alphabet in a report on Wednesday, July 24th. Finally, Guggenheim boosted their target price on shares of Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $201.08.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $161.85 on Tuesday. The business’s 50 day moving average is $164.23 and its 200-day moving average is $165.98. Alphabet Inc. has a 1-year low of $120.21 and a 1-year high of $191.75. The firm has a market capitalization of $2.00 trillion, a PE ratio of 24.82, a PEG ratio of 1.13 and a beta of 1.04. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share 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 firm had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. During the same quarter last year, the company posted $1.44 EPS. Sell-side analysts predict that Alphabet Inc. will post 7.64 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s dividend payout ratio is 12.27%.

Insider Activity at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the stock in a transaction on Friday, July 12th. The shares were sold at an average price of $185.85, for a total value of $278,775.00. Following the completion of the sale, the director now owns 30,824 shares in the company, valued at $5,728,640.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, SVP Prabhakar Raghavan sold 3,262 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $183.99, for a total value of $600,175.38. Following the transaction, the senior vice president now owns 9 shares in the company, valued at approximately $1,655.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $185.85, for a total transaction of $278,775.00. Following the completion of the transaction, the director now owns 30,824 shares in the company, valued at approximately $5,728,640.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 180,167 shares of company stock valued at $29,762,606. Corporate insiders own 11.55% of the company’s stock.

Alphabet 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.