Te Ahumairangi Investment Management Ltd Has $22.70 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Te Ahumairangi Investment Management Ltd boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 19.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 137,669 shares of the information services provider’s stock after purchasing an additional 22,169 shares during the quarter. Alphabet comprises 4.0% of Te Ahumairangi Investment Management Ltd’s holdings, making the stock its 4th largest holding. Te Ahumairangi Investment Management Ltd’s holdings in Alphabet were worth $22,703,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GOOGL. State Street Corp raised its stake in Alphabet by 0.3% in the third quarter. State Street Corp now owns 222,555,548 shares of the information services provider’s stock valued at $36,910,838,000 after buying an additional 743,369 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Alphabet by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock valued at $22,154,651,000 after purchasing an additional 2,626,431 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of Alphabet by 2.5% in the 3rd quarter. Fisher Asset Management LLC now owns 49,857,900 shares of the information services provider’s stock valued at $8,268,933,000 after purchasing an additional 1,237,385 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Alphabet by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock worth $9,011,412,000 after purchasing an additional 238,403 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Alphabet by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 37,233,079 shares of the information services provider’s stock worth $6,175,106,000 after purchasing an additional 523,416 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Trading Down 3.6 %

NASDAQ GOOGL opened at $188.40 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The firm’s 50-day moving average is $173.46 and its two-hundred day moving average is $171.09. Alphabet Inc. has a 12 month low of $130.66 and a 12 month high of $201.42. The stock has a market capitalization of $2.31 trillion, a P/E ratio of 24.99, a PEG ratio of 1.39 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter last year, the firm posted $1.55 earnings per share. On average, sell-side analysts anticipate that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.42%. Alphabet’s payout ratio is 10.61%.

Analysts Set New Price Targets

GOOGL has been the subject of a number of research analyst reports. Truist Financial raised their target price on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $210.00 target price on shares of Alphabet in a report on Thursday, December 12th. Piper Sandler reissued an “overweight” rating and set a $210.00 price target (up from $200.00) on shares of Alphabet in a research report on Wednesday, October 30th. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Finally, Robert W. Baird reissued an “outperform” rating and set a $205.00 target price on shares of Alphabet in a report on Tuesday, December 10th. Seven investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $206.69.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total transaction of $230,804.28. Following the completion of the sale, the chief accounting officer now directly owns 29,183 shares of the company’s stock, valued at approximately $4,927,257.72. The trade was a 4.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $167.07, for a total value of $3,759,075.00. Following the sale, the chief executive officer now directly owns 2,129,306 shares of the company’s stock, valued at $355,743,153.42. This trade represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 178,957 shares of company stock worth $31,358,687 in the last quarter. 11.55% of the stock is owned by company insiders.

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.