Shares of Alphabet Inc. (NASDAQ:GOOGL) were down by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 1.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,414,653 shares of the information services provider’s stock after selling 14,891 shares during the quarter. Alphabet makes up about 8.5% of Commerzbank Aktiengesellschaft FI’s investment portfolio, making the stock its 2nd largest position. Commerzbank Aktiengesellschaft FI’s holdings in Alphabet were worth $257,679,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in GOOGL. CarsonAllaria Wealth Management Ltd. boosted its holdings in Alphabet by 39.6% in the second quarter. CarsonAllaria Wealth Management Ltd. now owns 409 shares of the information services provider’s stock valued at $75,000 after buying an additional 116 shares in the last quarter. Vance Wealth Inc. raised its stake in Alphabet by 4.0% in the second quarter. Vance Wealth Inc. now owns 3,089 shares of the information services provider’s stock valued at $563,000 after acquiring an additional 119 shares during the last quarter. Focus Financial Network Inc. raised its holdings in Alphabet by 3.4% in the 2nd quarter. Focus Financial Network Inc. now owns 87,527 shares of the information services provider’s stock valued at $15,844,000 after purchasing an additional 2,905 shares in the last quarter. Hobbs Group Advisors LLC purchased a new stake in Alphabet in the second quarter valued at $1,442,000. Finally, BigSur Wealth Management LLC boosted its holdings in shares of Alphabet by 136.8% during the 2nd quarter. BigSur Wealth Management LLC now owns 26,140 shares of the information services provider’s stock, valued at $4,761,000 , after buying an additional 15,100 shares in the last quarter. 40.03% of the shares are currently held by hedge funds and other institutional investors.

Analysts on Wall Street are forecasting an increase

Several equities research analysts have recently issued reports on GOOGL shares. Susquehanna raised their target price on Alphabet from $170.00 to $225.00 and gave the stock a “positive” rating in a report on Monday, April 29th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $181.00 price objective on shares of Alphabet in a report on Wednesday, July 24th. Argus upped their target price on shares of Alphabet from $200.00 to $215.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Tigress Financial upped their target price on shares of Alphabet from $176.00 to $210.00 and gave the company a “strong-buy” rating in a research note on Friday, May 24th. Finally, UBS Group raised their price objective on shares of Alphabet from $200.00 to $204.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the company. Alphabet has a consensus rating of “Moderate Buy” and an average price target of $203.74, according to MarketBeat .

Read our latest report on GOOGL

Indoor activity

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $176.58, for a total transaction of $3,973,050.00. Following the transaction, the chief executive officer now directly owns 2,235,511 shares in the company, valued at $394,746,532.38. The transaction was disclosed in a legal filing with the SEC, which is available on the SEC’s website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $176.58, for a total transaction of $3,973,050.00. Following the completion of the sale, the chief executive officer now owns 2,235,511 shares in the company, valued at $394,746,532.38. The transaction was disclosed in a filing with the SEC, which can be accessed via this link. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $173.86, for a total value of $118,572.52. Following the sale, the chief accounting officer now directly owns 29,966 shares in the company, valued at approximately $5,209,888.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 156,565 shares of company stock worth $26,823,893. 11.55% of shares are currently owned by corporate insiders.

Alphabet stock performance

Shares of Alphabet opened at $166.16 on Tuesday. 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 market cap of $2.05 trillion, a PE ratio of 25.48, a P/E/G ratio of 1.28 and a beta of 1.05. The company has a 50-day moving average price of $174.51 and a 200-day moving average price of $163.44. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08, and a current ratio of 2.08.

Alphabet (NASDAQ:GOOGL – Get Your Free Report ) last posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same period in the previous year, the company posted EPS of $1.44. As a group, equities analysts estimate that Alphabet Inc. will post 7.62 earnings per share for the current year.

Alphabet announces dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be given a dividend of $0.20 per share. This represents an annualized dividend of $0.80 and a yield of 0.48%. The ex-dividend date of this dividend is Monday, September 9. Alphabet’s payout ratio is 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.

Further reading

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