Mediolanum International Funds Ltd Buys Shares of 840,132 Alphabet Inc. (NASDAQ:GOOG)

Mediolanum International Funds Ltd purchased a new stake in Alphabet Inc. (NASDAQ:GOOGFree Report) during the 1st quarter, HoldingsChannel reports. The firm purchased 840,132 shares of the information services provider’s stock, valued at approximately $127,650,000. Alphabet accounts for about 2.1% of Mediolanum International Funds Ltd’s portfolio, making the stock its 5th biggest position.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Alphabet in the fourth quarter valued at approximately $4,101,040,000. International Assets Investment Management LLC bought a new position in shares of Alphabet in the fourth quarter valued at approximately $11,600,970,000. Cerity Partners LLC raised its stake in shares of Alphabet by 198.7% in the fourth quarter. Cerity Partners LLC now owns 3,882,882 shares of the information services provider’s stock valued at $547,215,000 after acquiring an additional 2,583,128 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Alphabet by 93.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 4,591,383 shares of the information services provider’s stock valued at $647,064,000 after acquiring an additional 2,222,950 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Alphabet by 50.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,918,113 shares of the information services provider’s stock valued at $596,572,000 after acquiring an additional 1,308,691 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GOOG has been the subject of several research analyst reports. Morgan Stanley restated an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. TD Cowen lifted their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a report on Friday, June 28th. Stifel Nicolaus upped their target price 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. Finally, Oppenheimer upped their target price on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $174.38.

Check Out Our Latest Report on Alphabet

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the completion of the transaction, the chief executive officer now owns 2,303,011 shares of the company’s stock, valued at $362,516,961.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $183.99, for a total value of $600,175.38. Following the completion of the sale, the senior vice president now directly owns 9 shares in the company, valued at $1,655.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the completion of the sale, the chief executive officer now owns 2,303,011 shares of the company’s stock, valued at $362,516,961.51. The disclosure for this sale can be found here. Insiders sold 146,288 shares of company stock valued at $25,345,053 over the last quarter. Insiders own 12.99% of the company’s stock.

Alphabet Price Performance

NASDAQ:GOOG traded up $2.22 on Wednesday, hitting $192.66. The company had a trading volume of 12,042,383 shares, compared to its average volume of 20,787,037. The stock has a market capitalization of $2.38 trillion, a price-to-earnings ratio of 29.59, a PEG ratio of 1.43 and a beta of 1.05. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. The firm has a 50 day moving average of $177.92 and a two-hundred day moving average of $158.32. Alphabet Inc. has a 52 week low of $115.83 and a 52 week high of $193.31.

Alphabet (NASDAQ:GOOGGet Free Report) last released its quarterly 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. The firm had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.17 earnings per share. On average, research analysts anticipate that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently announced a — dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s dividend payout ratio is presently 12.27%.

Alphabet Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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