ING Groep NV Has $433.05 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

ING Groep NV decreased its position in Alphabet Inc. (NASDAQ:GOOGL) by 13.8% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 2,611,072 shares of the information services provider’s stock after selling 417,954 shares during the period. Alphabet comprises 2.5% of ING Groep NV’s portfolio, making the stock its 8th biggest position. ING Groep NV’s holdings in Alphabet were worth $433,046,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of GOOGL. China Universal Asset Management Co. Ltd. increased its position in shares of Alphabet by 70.6% in the first 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 last quarter. Quent Capital LLC boosted its position in Alphabet by 3.6% during the first quarter. Quent Capital LLC now owns 31,171 shares of the information services provider’s stock valued at $4,705,000 after purchasing an additional 1,072 shares during the last quarter. Tyro Capital Management LLC bought a new position in Alphabet in the first quarter valued at approximately $8,026,000. Tremblant Capital Group increased its position in shares of Alphabet by 76.1% during the 1st quarter. Tremblant Capital Group now owns 9,415 shares of the information services provider’s stock worth $1,421,000 after purchasing an additional 4,068 shares during the last quarter. Finally, Kestra Advisory Services LLC raised its stake in shares of Alphabet by 9.3% during the 1st quarter. Kestra Advisory Services LLC now owns 533,158 shares of the information services provider’s stock worth $80,470,000 after purchasing an additional 45,361 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $169.23 on Friday. Alphabet Inc. has a 1 year low of $127.90 and a 1 year high of $191.75. The stock has a market capitalization of $2.07 trillion, a price-to-earnings ratio of 22.44, a price-to-earnings-growth ratio of 1.19 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. The company’s 50 day simple moving average is $168.36 and its 200 day simple moving average is $170.33.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. During the same quarter last year, the business posted $1.55 EPS. As a group, research analysts predict that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio is presently 10.61%.

Insiders Place Their Bets

In other news, 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 directly owns 29,182 shares in the company, valued at approximately $4,421,948.46. This represents a 8.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $153.75, for a total value of $123,000.00. Following the sale, the director now directly owns 28,524 shares in the company, valued at approximately $4,385,565. This trade represents a 2.73 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 206,795 shares of company stock valued at $34,673,866. 11.55% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several analyst reports. Royal Bank of Canada raised their target price on shares of Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Morgan Stanley lifted their price objective on shares of Alphabet from $190.00 to $205.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Loop Capital boosted their price objective on shares of Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. Roth Mkm raised their target price on shares of Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Bank of America boosted their price target on Alphabet from $206.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $205.90.

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.