Alphabet Inc. (NASDAQ:GOOG) Holdings Increased by QRG Capital Management Inc.

QRG Capital Management Inc. lifted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 12.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 761,593 shares of the information services provider’s stock after purchasing an additional 86,948 shares during the quarter. Alphabet accounts for about 1.5% of QRG Capital Management Inc.’s investment portfolio, making the stock its 8th biggest holding. QRG Capital Management Inc.’s holdings in Alphabet were worth $115,960,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GOOG. Capital International Investors lifted its holdings in shares of Alphabet by 1.1% during the 4th quarter. Capital International Investors now owns 80,246,520 shares of the information services provider’s stock valued at $11,309,370,000 after buying an additional 862,550 shares during the period. Norges Bank purchased a new stake in Alphabet during the fourth quarter valued at $4,101,040,000. Charles Schwab Investment Management Inc. lifted its holdings in Alphabet by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 28,800,413 shares of the information services provider’s stock valued at $4,058,842,000 after acquiring an additional 481,376 shares during the period. Sanders Capital LLC boosted its position in Alphabet by 2.9% in the fourth quarter. Sanders Capital LLC now owns 28,558,000 shares of the information services provider’s stock worth $4,024,679,000 after purchasing an additional 813,428 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of Alphabet by 0.8% during the 4th quarter. Franklin Resources Inc. now owns 12,638,895 shares of the information services provider’s stock valued at $1,781,200,000 after purchasing an additional 97,603 shares during the period. 27.26% of the stock is owned by institutional investors.

Alphabet Price Performance

GOOG stock traded down $2.75 during trading on Wednesday, reaching $182.75. The company’s stock had a trading volume of 4,195,577 shares, compared to its average volume of 20,459,820. The company’s fifty day moving average is $179.81 and its 200-day moving average is $159.95. Alphabet Inc. has a 1 year low of $118.68 and a 1 year high of $193.31. The company has a market capitalization of $2.26 trillion, a P/E ratio of 28.45, a price-to-earnings-growth ratio of 1.41 and a beta of 1.05. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.38. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The company had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $78.75 billion. During the same quarter last year, the company earned $1.17 EPS. The firm’s quarterly revenue was up 15.4% on a year-over-year basis. On average, research analysts expect that Alphabet Inc. will post 7.61 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a — dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GOOG. TD Cowen increased their price objective on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Stifel Nicolaus lifted their price target on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday. Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a report on Friday, June 28th. Finally, Morgan Stanley reissued an “overweight” rating and set a $165.00 price target on shares of Alphabet in a report on Thursday, April 11th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $174.38.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total value of $113,668.94. Following the sale, the chief accounting officer now owns 29,284 shares in the company, valued at approximately $4,880,764.28. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total value of $113,668.94. Following the sale, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at approximately $4,880,764.28. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $166.80, for a total value of $3,753,000.00. Following the transaction, the chief executive officer now owns 2,280,511 shares of the company’s stock, valued at $380,389,234.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 124,488 shares of company stock worth $21,954,455. 12.99% of the stock is owned by insiders.

About Alphabet

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.