Alphabet Inc. (NASDAQ:GOOGL) is Gulf International Bank UK Ltd’s 6th Largest Position

Gulf International Bank UK Ltd cut its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 4.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 463,409 shares of the information services provider’s stock after selling 20,943 shares during the quarter. Alphabet accounts for 2.0% of Gulf International Bank UK Ltd’s portfolio, making the stock its 6th biggest holding. Gulf International Bank UK Ltd’s holdings in Alphabet were worth $76,856,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of GOOGL. China Universal Asset Management Co. Ltd. lifted its position in shares of Alphabet by 70.6% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 101,230 shares of the information services provider’s stock valued at $15,279,000 after acquiring an additional 41,880 shares during the period. Quent Capital LLC grew its holdings in shares of Alphabet by 3.6% in the 1st quarter. Quent Capital LLC now owns 31,171 shares of the information services provider’s stock worth $4,705,000 after acquiring an additional 1,072 shares during the period. Empowered Funds LLC increased its stake in Alphabet by 12.3% in the 1st quarter. Empowered Funds LLC now owns 187,840 shares of the information services provider’s stock valued at $28,351,000 after purchasing an additional 20,572 shares in the last quarter. Atomi Financial Group Inc. raised its holdings in Alphabet by 27.4% during the first quarter. Atomi Financial Group Inc. now owns 34,871 shares of the information services provider’s stock worth $5,263,000 after purchasing an additional 7,507 shares during the last quarter. Finally, Nixon Peabody Trust Co. boosted its position in Alphabet by 4.9% during the first quarter. Nixon Peabody Trust Co. now owns 113,126 shares of the information services provider’s stock worth $17,074,000 after purchasing an additional 5,268 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $177.41, for a total transaction of $1,862,805.00. Following the sale, the director now owns 319,966 shares in the company, valued at $56,765,168.06. This trade represents a 3.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the transaction, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at $4,421,948.46. This trade represents a 8.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 206,795 shares of company stock valued at $34,471,141. Company insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Roth Mkm raised their price target on Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Mizuho lifted their target price on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Guggenheim upped their price target on shares of Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. KeyCorp raised their price objective on shares of Alphabet from $200.00 to $215.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, DA Davidson assumed coverage on Alphabet in a research note on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 target price on the stock. Seven research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $205.90.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $172.49 on Monday. The business has a 50-day moving average of $165.61 and a two-hundred day moving average of $170.22. The firm has a market capitalization of $2.11 trillion, a PE ratio of 22.88, a P/E/G ratio of 1.23 and a beta of 1.03. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. Alphabet Inc. has a 12 month low of $127.90 and a 12 month high of $191.75.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. During the same quarter in the prior year, the company earned $1.55 EPS. As a group, research analysts forecast that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Announces Dividend

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

Alphabet Company 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.