Quintet Private Bank Europe S.A. Has $88.45 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Quintet Private Bank Europe S.A. grew its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 633,184 shares of the information services provider’s stock after buying an additional 4,182 shares during the period. Alphabet makes up about 5.5% of Quintet Private Bank Europe S.A.’s holdings, making the stock its 3rd biggest holding. Quintet Private Bank Europe S.A.’s holdings in Alphabet were worth $88,450,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Forthright Family Wealth Advisory LLC purchased a new stake in Alphabet during the 4th quarter valued at about $393,000. American International Group Inc. increased its position in shares of Alphabet by 11.5% in the fourth quarter. American International Group Inc. now owns 1,951,860 shares of the information services provider’s stock valued at $272,655,000 after acquiring an additional 200,891 shares during the period. Abel Hall LLC bought a new position in shares of Alphabet during the fourth quarter valued at about $768,000. Beaird Harris Wealth Management LLC boosted its holdings in shares of Alphabet by 48.7% during the fourth quarter. Beaird Harris Wealth Management LLC now owns 2,115 shares of the information services provider’s stock worth $295,000 after purchasing an additional 693 shares during the period. Finally, Syon Capital LLC grew its stake in shares of Alphabet by 12.0% in the fourth quarter. Syon Capital LLC now owns 41,695 shares of the information services provider’s stock worth $5,824,000 after purchasing an additional 4,472 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Up 0.9 %

Alphabet stock traded up $1.63 during midday trading on Friday, hitting $176.79. 18,063,555 shares of the company’s stock were exchanged, compared to its average volume of 21,874,168. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The company has a market cap of $2.18 trillion, a PE ratio of 27.12, a P/E/G ratio of 1.33 and a beta of 1.01. The firm has a 50-day moving average of $168.08 and a two-hundred day moving average of $151.00. Alphabet Inc. has a 12 month low of $115.35 and a 12 month high of $180.41.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. 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 $66.04 billion. During the same quarter last year, the company earned $1.17 earnings per share. As a group, analysts expect that Alphabet Inc. will post 7.6 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, June 17th. Investors of record on Monday, June 10th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date is Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GOOGL. Raymond James upped their target price on Alphabet from $160.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. UBS Group raised their target price on shares of Alphabet from $150.00 to $166.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Sanford C. Bernstein raised their price objective on Alphabet from $165.00 to $180.00 and gave the company a “market perform” rating in a research report on Friday, April 26th. Truist Financial boosted their target price on Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Finally, Oppenheimer lifted their price target on Alphabet from $185.00 to $205.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Five analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $193.26.

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $177.92, for a total transaction of $266,880.00. Following the completion of the transaction, the director now directly owns 3,727 shares of the company’s stock, valued at approximately $663,107.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $176.58, for a total value 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 approximately $394,746,532.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $177.92, for a total value of $266,880.00. Following the transaction, the director now directly owns 3,727 shares in the company, valued at approximately $663,107.84. The disclosure for this sale can be found here. Insiders sold 158,958 shares of company stock worth $25,805,853 in the last three months. Corporate insiders own 11.55% of the company’s stock.

Alphabet 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.