Alphabet Inc. $GOOGL Position Lifted by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 8.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,321,859 shares of the information services provider’s stock after buying an additional 263,134 shares during the quarter. Alphabet comprises 1.2% of MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s investment portfolio, making the stock its 9th biggest holding. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Alphabet were worth $513,570,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Infusive Asset Management Inc. grew its stake in Alphabet by 21.2% during the 1st quarter. Infusive Asset Management Inc. now owns 81,932 shares of the information services provider’s stock worth $12,670,000 after buying an additional 14,339 shares during the last quarter. Integrated Wealth Concepts LLC grew its stake in shares of Alphabet by 8.7% in the 1st quarter. Integrated Wealth Concepts LLC now owns 187,386 shares of the information services provider’s stock valued at $28,977,000 after purchasing an additional 15,041 shares during the last quarter. Gotham Asset Management LLC grew its stake in shares of Alphabet by 7.7% in the 1st quarter. Gotham Asset Management LLC now owns 425,060 shares of the information services provider’s stock valued at $65,731,000 after purchasing an additional 30,556 shares during the last quarter. Grace & Mercy Foundation Inc. increased its stake in Alphabet by 11.2% in the 1st quarter. Grace & Mercy Foundation Inc. now owns 384,105 shares of the information services provider’s stock valued at $59,398,000 after buying an additional 38,835 shares during the period. Finally, Greenline Partners LLC increased its stake in Alphabet by 25.0% in the 1st quarter. Greenline Partners LLC now owns 400 shares of the information services provider’s stock valued at $62,000 after buying an additional 80 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insiders Place Their Bets

In related news, Director Kavitark Ram Shriram sold 18,566 shares of the company’s stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director directly owned 243,400 shares in the company, valued at approximately $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 1,000 shares of the business’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $200.00, for a total value of $200,000.00. Following the sale, the director directly owned 6,916 shares of the company’s stock, valued at approximately $1,383,200. This trade represents a 12.63% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 222,210 shares of company stock valued at $41,742,155. 11.64% of the stock is owned by company insiders.

Alphabet Stock Performance

NASDAQ GOOGL opened at $232.30 on Friday. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $232.37. The stock has a market cap of $2.81 trillion, a price-to-earnings ratio of 24.74, a price-to-earnings-growth ratio of 1.55 and a beta of 1.01. The business has a fifty day moving average of $194.66 and a 200-day moving average of $175.13. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.16. The company had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. As a group, analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet’s dividend payout ratio is presently 8.95%.

Wall Street Analyst Weigh In

GOOGL has been the topic of several recent research reports. Cantor Fitzgerald boosted their price objective on shares of Alphabet from $196.00 to $201.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. Bank of America boosted their price objective on shares of Alphabet from $210.00 to $217.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Morgan Stanley boosted their price objective on shares of Alphabet from $185.00 to $205.00 and gave the company an “overweight” rating in a research note on Monday, July 21st. UBS Group boosted their price objective on shares of Alphabet from $192.00 to $202.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. Finally, Canaccord Genuity Group lifted their price target on Alphabet from $230.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday. Four investment analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $221.31.

Alphabet Company 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.