MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Has $50.87 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 306,693 shares of the information services provider’s stock after selling 12,954 shares during the quarter. Alphabet accounts for about 1.6% of MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s investment portfolio, making the stock its 23rd biggest holding. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Alphabet were worth $50,865,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Christopher J. Hasenberg Inc boosted its holdings in shares of 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 buying an additional 60 shares during the period. Tributary Capital Management LLC acquired a new position in shares of Alphabet in the first quarter valued at approximately $30,000. Kings Path Partners LLC acquired a new position in shares of Alphabet in the second quarter valued at approximately $36,000. Denver PWM LLC acquired a new position in shares of Alphabet in the second quarter valued at approximately $41,000. Finally, CarsonAllaria Wealth Management Ltd. boosted its holdings in shares of Alphabet by 59.2% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after buying an additional 109 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of research reports. Wolfe Research initiated coverage on shares of Alphabet in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 price objective on the stock. Piper Sandler reissued an “overweight” rating and issued a $200.00 price objective on shares of Alphabet in a research report on Monday, September 30th. Royal Bank of Canada boosted their price objective on shares of Alphabet from $200.00 to $204.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Bank of America boosted their price objective on shares of Alphabet from $200.00 to $206.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Finally, Wedbush reissued an “outperform” rating and issued a $205.00 price objective on shares of Alphabet in a research report on Thursday, September 5th. Eight equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $201.76.

Alphabet Trading Up 0.4 %

Shares of Alphabet stock opened at $164.07 on Tuesday. The company has a market capitalization of $2.03 trillion, a price-to-earnings ratio of 25.16, a PEG ratio of 1.21 and a beta of 1.04. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12-month low of $120.21 and a 12-month high of $191.75. The firm’s 50-day moving average price is $161.80 and its two-hundred day moving average price is $168.35.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to the consensus estimate 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 prior year, the company posted $1.44 earnings per share. On average, analysts forecast that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the transaction, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total value of $3,741,750.00. Following the completion of the transaction, the chief executive officer now owns 2,106,806 shares of the company’s stock, valued at approximately $350,361,837.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction 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 stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the transaction, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at $5,264,112. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 220,426 shares of company stock worth $35,993,340 over the last ninety days. 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.