IFM Investors Pty Ltd Has $163.28 Million Stock Position in Alphabet Inc. $GOOGL

IFM Investors Pty Ltd trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,055,890 shares of the information services provider’s stock after selling 3,556 shares during the quarter. Alphabet accounts for about 1.8% of IFM Investors Pty Ltd’s portfolio, making the stock its 6th largest position. IFM Investors Pty Ltd’s holdings in Alphabet were worth $163,283,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Acorns Advisers LLC grew its stake in Alphabet by 20.3% during the 1st quarter. Acorns Advisers LLC now owns 4,826 shares of the information services provider’s stock worth $746,000 after buying an additional 814 shares during the last quarter. Belpointe Asset Management LLC grew its stake in Alphabet by 12.4% during the 1st quarter. Belpointe Asset Management LLC now owns 73,460 shares of the information services provider’s stock worth $11,360,000 after buying an additional 8,103 shares during the last quarter. Focus Partners Wealth grew its stake in Alphabet by 11.0% during the 1st quarter. Focus Partners Wealth now owns 2,126,417 shares of the information services provider’s stock worth $328,799,000 after buying an additional 211,213 shares during the last quarter. Capital Impact Advisors LLC purchased a new stake in Alphabet during the 1st quarter valued at about $17,468,000. Finally, Flaharty Asset Management LLC purchased a new stake in Alphabet during the 1st quarter valued at about $113,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on GOOGL. DA Davidson increased their price target on Alphabet from $180.00 to $190.00 and gave the company a “neutral” rating in a report on Tuesday, September 2nd. JMP Securities upped their target price on Alphabet from $225.00 to $250.00 and gave the company a “market outperform” rating in a research note on Wednesday, September 3rd. Sanford C. Bernstein raised their price objective on Alphabet from $185.00 to $195.00 and gave the company a “market perform” rating in a research note on Tuesday, July 22nd. Piper Sandler lifted their price target on Alphabet from $195.00 to $220.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Finally, BMO Capital Markets raised their target price on shares of Alphabet from $208.00 to $225.00 and gave the stock an “outperform” rating in a report on Thursday, July 24th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $221.44.

Insider Activity at Alphabet

In other Alphabet news, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the sale, the insider owned 42,999 shares of the company’s stock, valued at $8,371,905.30. This trade represents a 35.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the sale, the chief executive officer directly owned 2,429,892 shares of the company’s stock, valued at $558,219,089.16. This trade represents a 1.32% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 254,710 shares of company stock worth $49,208,380. Corporate insiders own 11.55% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $239.63 on Wednesday. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $240.47. The stock has a market cap of $2.90 trillion, a price-to-earnings ratio of 25.52, a PEG ratio of 1.57 and a beta of 1.01. The stock’s 50 day moving average price is $198.22 and its 200 day moving average price is $176.17. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. Equities research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. Alphabet’s dividend payout ratio (DPR) is 8.95%.

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.