Alphabet Inc. (NASDAQ:GOOG) is Natixis Advisors LLC’s eighth largest holding

VaselineSeptember 4, 2024

0 4 minutes read

Natixis Advisors LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 9.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,176,588 shares of the information services provider’s stock after buying an additional 268,934 shares during the period. Alphabet comprises 1.3% of Natixis Advisors LLC’s holdings, making the stock its 8th largest holding. Natixis Advisors LLC’s holdings in Alphabet were worth $582,650,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Partnership Wealth Management LLC bought a new position in Alphabet in the fourth quarter valued at about $26,000. 1620 Investment Advisors Inc. bought a new position in shares of Alphabet in the second quarter valued at about $37,000. Richardson Financial Services Inc. acquired a new stake in shares of Alphabet during the fourth quarter valued at about $34,000. Pacific Capital Wealth Advisors Inc. bought a new stake in shares of Alphabet in the 4th quarter valued at approximately $34,000. Finally, Hoese & Co LLP boosted its holdings in shares of Alphabet by 62.5% in the second quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after purchasing an additional 100 shares during the period. Institutional investors own 27.26% of the company’s shares.

Alphabet trading down 3.9%

Shares of GOOG stock opened at $158.61 on Wednesday. The company’s 50-day moving average price is $174.24 and its 200-day moving average price is $165.65. 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 $1.96 trillion, a PE ratio of 24.33, a P/E/G ratio of 1.22 and a beta of 1.05. Alphabet Inc. has a 12-month low of $121.46 and a 12-month high of $193.31.

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Alphabet (NASDAQ:GOOG – Get Your Free Report ) last issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company’s quarterly revenue was up 13.6% year over year. In the same quarter last year, the company posted EPS of $1.44. On average, equities analysts estimate that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet announces dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be issued a $0.20 dividend. The ex-dividend date is Monday, September 9. This represents an annualized dividend of $0.80 and a yield of 0.50%. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

Analysts on Wall Street are forecasting an increase

A number of analysts have issued reports on GOOG shares. Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price for the company. in a research report on Friday, June 28th. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Oppenheimer upped 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. Finally, TD Cowen upped their target price on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $182.86.

Check out our latest research report on GOOG

Insider buying and selling

In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total value of $109,420.08. Following the completion of the transaction, the chief accounting officer now owns 32,017 shares of the company’s stock, valued at approximately $5,136,807.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this hyperlink. In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the sale, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at approximately $5,136,807.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed via this link. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the transaction, the chief executive officer now directly owns 2,159,885 shares of the company’s stock, valued at approximately $362,126,319.10. The disclosure for this sale can be found here. Insiders have sold a total of 156,565 shares of company stock worth $27,043,340 over the last three months. Corporate insiders own 12.99% of the company’s shares.

About Alphabet

(Free Report)

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, Asia-Pacific, Canada and Latin America. It works through Google services, Google Cloud and other betting segments. The Google Services segment offers products and services, including advertising, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search and YouTube.