Elo Mutual Pension Insurance Co Sells 88,507 Shares of Alphabet Inc. $GOOG

Elo Mutual Pension Insurance Co lowered its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 17.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 404,774 shares of the information services provider’s stock after selling 88,507 shares during the period. Alphabet accounts for about 1.5% of Elo Mutual Pension Insurance Co’s holdings, making the stock its 11th biggest position. Elo Mutual Pension Insurance Co’s holdings in Alphabet were worth $71,803,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. REDW Wealth LLC grew its position in shares of Alphabet by 2.3% during the 2nd quarter. REDW Wealth LLC now owns 2,410 shares of the information services provider’s stock valued at $428,000 after purchasing an additional 54 shares in the last quarter. GDS Wealth Management boosted its stake in Alphabet by 2.4% during the second quarter. GDS Wealth Management now owns 2,325 shares of the information services provider’s stock valued at $412,000 after buying an additional 54 shares during the period. ACT Advisors LLC. grew 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 worth $288,000 after buying an additional 55 shares in the last quarter. Moser Wealth Advisors LLC grew its position in Alphabet by 2.2% during the second quarter. Moser Wealth Advisors LLC now owns 2,545 shares of the information services provider’s stock worth $451,000 after buying an additional 55 shares in the last quarter. Finally, LongView Wealth Management increased its stake in Alphabet by 1.1% in the 2nd quarter. LongView Wealth Management now owns 5,126 shares of the information services provider’s stock worth $909,000 after acquiring an additional 56 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In other Alphabet news, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the transaction, the insider directly owned 42,985 shares of the company’s stock, valued at $10,635,348.70. The trade was a 29.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total value of $694,638.90. Following the sale, the chief accounting officer directly owned 14,516 shares of the company’s stock, valued at approximately $3,629,725.80. This trade represents a 16.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 227,952 shares of company stock worth $58,896,009. Company insiders own 12.99% of the company’s stock.

Alphabet Trading Up 6.3%

GOOG stock opened at $318.47 on Tuesday. The company has a market capitalization of $3.84 trillion, a PE ratio of 31.41, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a one year low of $142.66 and a one year high of $319.80. The company’s 50 day moving average price is $264.32 and its two-hundred day moving average price is $215.82.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, October 30th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The company had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The firm’s revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.12 EPS. As a group, analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio (DPR) is 8.28%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GOOG. Loop Capital upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 18th. KeyCorp reaffirmed an “overweight” rating and issued a $330.00 target price on shares of Alphabet in a research note on Thursday, October 30th. Citigroup reiterated a “market outperform” rating on shares of Alphabet in a research report on Monday. Weiss Ratings reissued a “buy (b)” rating on shares of Alphabet in a report on Wednesday, October 8th. Finally, Bank of America lifted their price objective on shares of Alphabet from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Seven research analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $324.81.

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.