Shares of Alphabet Inc. (NASDAQ:GOOGL) sold by AustralianSuper Pty Ltd

VaselineSeptember 6, 2024

0 4 minutes read

AustralianSuper Pty Ltd reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 9.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,748,659 shares of the information services provider’s stock after selling 586,204 shares during the period. Alphabet makes up 6.0% of AustralianSuper Pty Ltd’s portfolio, making the stock its 3rd largest holding. AustralianSuper Pty Ltd’s holdings in Alphabet were worth $1,047,118,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GUNN & Co INVESTMENT MANAGEMENT INC. acquired a new stake in Alphabet in the fourth quarter valued at approximately $1,328,000. Auxano Advisors LLC raised its stake in shares of Alphabet by 3.5% in the fourth quarter. Auxano Advisors LLC now owns 25,259 shares of the information services provider’s stock valued at $3,528,000 after purchasing an additional 862 shares during the period. Pekin Hardy Strauss Inc. raised its stake in shares of Alphabet by 1.7% in the fourth quarter. Pekin Hardy Strauss Inc. now owns 53,638 shares of the information services provider’s stock worth $7,493,000 after purchasing an additional 889 shares during the period. Brighton Jones LLC raised its stake in shares of Alphabet by 9.7% in the fourth quarter. Brighton Jones LLC now owns 109,962 shares of the information services provider’s stock valued at $15,361,000 after buying an additional 9,734 shares during the period. Finally, MONECO Advisors LLC raised its stake in shares of Alphabet by 143.3% in the fourth quarter. MONECO Advisors LLC now owns 50,317 shares of the information services provider’s stock worth $7,029,000 after acquiring an additional 29,632 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s shares.

Insider buying and selling

In related news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $177.92, for a total value of $266,880.00. Following the transaction, the director now owns 3,727 shares in the company, valued at $663,107.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC’s website. In other Alphabet news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $177.92, for a total value of $266,880.00. Following the transaction, the director now owns 3,727 shares in the company, valued at $663,107.84. The transaction was disclosed in a filing with the SEC, which is accessible via this hyperlink. Also, insider John Kent Walker sold 21,467 shares of Alphabet stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total value of $3,442,233.45. Following the completion of the transaction, the insider now owns 39,334 shares in the company, valued at approximately $6,307,206.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 178,032 shares of company stock valued at $29,854,224. Company insiders own 11.55% of the company’s shares.

Analysts on Wall Street are forecasting an increase

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Several brokerages recently weighed in on GOOGL. Bank of America upped their target price on shares of Alphabet from $200.00 to $206.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Needham & Company LLC restated a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research note on Friday, August 30th. Piper Sandler upped their target price on shares of Alphabet from $200.00 to $206.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Wells Fargo & Company boosted their target price on shares of Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Finally, Jefferies Financial Group boosted their target price on shares of Alphabet from $215.00 to $220.00 in a report on Tuesday, July 9th. Seven research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Moderate Buy” and a consensus price target of $202.81, based on data from MarketBeat.com.

Check out our latest research report on GOOGL

Alphabet stock 0.5%

GOOGL opened at $157.24 on Friday. Alphabet Inc. it has a fifty-two week low of $120.21 and a fifty-two week high of $191.75. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08, and a current ratio of 2.08. The company has a market cap of $1.94 trillion, a P/E ratio of 24.12, a P/E/G ratio of 1.22 and a beta of 1.05. The stock has a fifty-day moving average of $171.48 and a 200-day moving average of $164.06.

Alphabet (NASDAQ:GOOGL – Get Free Report ) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. In the same quarter last year, the company earned $1.44 per share. On average, equities analysts expect that Alphabet Inc. to post 7.63 EPS for the current year.

Alphabet announces dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be given a $0.20 dividend. This represents a dividend of $0.80 on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend is Monday, September 9. Alphabet’s payout ratio is currently 12.27%.

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.