Navera Investment Management Ltd. Has $84.83 Million Stock Position in Alphabet Inc. $GOOG

Navera Investment Management Ltd. reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.7% in the 2nd quarter, Holdings Channel reports. The firm owned 478,312 shares of the information services provider’s stock after selling 8,403 shares during the period. Alphabet accounts for approximately 1.5% of Navera Investment Management Ltd.’s holdings, making the stock its 22nd largest position. Navera Investment Management Ltd.’s holdings in Alphabet were worth $84,828,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. ACT Advisors LLC. raised its position in Alphabet by 3.5% during the second quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider’s stock valued at $288,000 after purchasing an additional 55 shares in the last quarter. LongView Wealth Management raised its position in Alphabet by 1.1% during the second quarter. LongView Wealth Management now owns 5,126 shares of the information services provider’s stock valued at $909,000 after purchasing an additional 56 shares in the last quarter. Kooman & Associates raised its position in Alphabet by 1.4% during the second quarter. Kooman & Associates now owns 4,127 shares of the information services provider’s stock valued at $732,000 after purchasing an additional 56 shares in the last quarter. Colton Groome Financial Advisors LLC raised its position in Alphabet by 3.4% during the second quarter. Colton Groome Financial Advisors LLC now owns 1,742 shares of the information services provider’s stock valued at $309,000 after purchasing an additional 57 shares in the last quarter. Finally, Brueske Advisory Services LLC raised its position in Alphabet by 2.7% during the second quarter. Brueske Advisory Services LLC now owns 2,194 shares of the information services provider’s stock valued at $389,000 after purchasing an additional 58 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

Shares of Alphabet stock opened at $237.49 on Friday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $256.70. The stock has a market cap of $2.87 trillion, a price-to-earnings ratio of 25.29, a P/E/G ratio of 1.63 and a beta of 1.00. The company’s fifty day moving average is $226.97 and its 200 day moving average is $189.66.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.67 billion. During the same quarter in the previous year, the firm posted $1.89 earnings per share. Alphabet’s revenue for the quarter was up 13.8% on a year-over-year basis. Sell-side analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were paid a $0.21 dividend. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. Alphabet’s payout ratio is currently 8.95%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. UBS Group set a $255.00 target price on shares of Alphabet and gave the stock a “neutral” rating in a research note on Thursday. TD Cowen boosted their target price on shares of Alphabet from $270.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday. Oppenheimer reaffirmed an “outperform” rating and set a $270.00 target price (up previously from $235.00) on shares of Alphabet in a research note on Wednesday, September 3rd. Scotiabank boosted their target price on shares of Alphabet from $200.00 to $240.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, July 22nd. Finally, Cowen reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $241.00.

Insider Buying and Selling

In other Alphabet news, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the sale, the insider owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. This represents a 29.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $249.44, for a total transaction of $149,664.00. Following the sale, the director directly owned 5,716 shares in the company, valued at $1,425,799.04. This trade represents a 9.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 276,738 shares of company stock valued at $59,135,475 over the last quarter. 12.99% of the stock is currently owned by company insiders.

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.