Alphabet Inc. (NASDAQ:GOOG) is EFG Asset Management Americas Corp.’s 8th Largest Position

EFG Asset Management Americas Corp. trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 19.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 66,364 shares of the information services provider’s stock after selling 16,121 shares during the period. Alphabet makes up about 2.5% of EFG Asset Management Americas Corp.’s investment portfolio, making the stock its 8th largest holding. EFG Asset Management Americas Corp.’s holdings in Alphabet were worth $12,638,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Swedbank AB grew its holdings in shares of Alphabet by 0.6% in the third quarter. Swedbank AB now owns 8,338,900 shares of the information services provider’s stock worth $1,394,181,000 after acquiring an additional 51,226 shares during the period. M&G PLC purchased a new position in Alphabet in the third quarter worth about $2,240,000. Principal Financial Group Inc. grew its stake in shares of Alphabet by 2.5% during the 3rd quarter. Principal Financial Group Inc. now owns 11,024,276 shares of the information services provider’s stock valued at $1,843,149,000 after purchasing an additional 264,962 shares during the period. Verity Asset Management Inc. purchased a new stake in shares of Alphabet during the 3rd quarter valued at about $322,000. Finally, AIA Group Ltd lifted its stake in shares of Alphabet by 8.6% in the 3rd quarter. AIA Group Ltd now owns 95,629 shares of the information services provider’s stock worth $15,988,000 after purchasing an additional 7,536 shares during the period. Institutional investors own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,374 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $173.47, for a total value of $238,347.78. Following the completion of the sale, the chief accounting officer now directly owns 15,024 shares of the company’s stock, valued at $2,606,213.28. The trade was a 8.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 37,134 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the transaction, the director now directly owns 282,832 shares in the company, valued at approximately $52,329,576.64. This trade represents a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 134,316 shares of company stock worth $25,062,887 in the last three months. Insiders own 12.99% of the company’s stock.

Alphabet Price Performance

NASDAQ:GOOG opened at $175.75 on Friday. The business’s 50-day moving average is $189.85 and its 200 day moving average is $178.00. Alphabet Inc. has a 12 month low of $134.80 and a 12 month high of $208.70. The company has a market capitalization of $2.14 trillion, a P/E ratio of 21.83, a P/E/G ratio of 1.34 and a beta of 1.03. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. On average, equities research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. Alphabet’s payout ratio is currently 9.94%.

Wall Street Analyst Weigh In

A number of brokerages have commented on GOOG. Morgan Stanley reaffirmed an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. Needham & Company LLC restated a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. Wedbush reiterated an “outperform” rating and set a $220.00 target price on shares of Alphabet in a research report on Thursday, January 30th. The Goldman Sachs Group restated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, Scotiabank boosted their price objective on Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research note on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $209.13.

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.