Generali Asset Management SPA SGR Lowers Stake in Alphabet Inc. $GOOG

Generali Asset Management SPA SGR lowered its holdings in Alphabet Inc. (NASDAQ:GOOG) by 4.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 411,376 shares of the information services provider’s stock after selling 18,607 shares during the quarter. Alphabet accounts for about 1.7% of Generali Asset Management SPA SGR’s investment portfolio, making the stock its 7th biggest position. Generali Asset Management SPA SGR’s holdings in Alphabet were worth $72,974,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in GOOG. Brighton Jones LLC increased its stake in Alphabet by 5.6% in the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock valued at $22,901,000 after acquiring an additional 6,410 shares during the period. Revisor Wealth Management LLC grew its stake in Alphabet by 107.9% during the first quarter. Revisor Wealth Management LLC now owns 3,659 shares of the information services provider’s stock worth $572,000 after buying an additional 1,899 shares during the last quarter. GAMMA Investing LLC grew its stake in Alphabet by 19.5% during the first quarter. GAMMA Investing LLC now owns 91,681 shares of the information services provider’s stock worth $14,323,000 after buying an additional 14,931 shares during the last quarter. Spirit of America Management Corp NY grew its stake in Alphabet by 10.9% during the first quarter. Spirit of America Management Corp NY now owns 3,050 shares of the information services provider’s stock worth $477,000 after buying an additional 300 shares during the last quarter. Finally, Meriwether Wealth & Planning LLC grew its stake in Alphabet by 7.2% during the first quarter. Meriwether Wealth & Planning LLC now owns 12,100 shares of the information services provider’s stock worth $1,890,000 after buying an additional 809 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In related news, Director John L. Hennessy sold 1,000 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $200.00, for a total value of $200,000.00. Following the transaction, the director directly owned 6,916 shares in the company, valued at $1,383,200. This represents a 12.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, 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 Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the transaction, the chief accounting officer owned 17,293 shares in the company, valued at $4,236,785. This represents a 13.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 243,372 shares of company stock valued at $55,110,740. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Price Performance

Shares of GOOG stock opened at $253.79 on Friday. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $257.58. The firm’s 50 day moving average is $232.18 and its 200-day moving average is $192.97. The firm has a market capitalization of $3.07 trillion, a price-to-earnings ratio of 27.03, a PEG ratio of 1.71 and a beta of 1.00. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating 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 business had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. During the same period in the prior year, the business posted $1.89 earnings per share. Alphabet’s revenue was up 13.8% compared to the same quarter last year. Sell-side analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet’s dividend payout ratio is currently 8.95%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on GOOG. Pivotal Research upped their price objective on shares of Alphabet from $245.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, September 3rd. UBS Group set a $255.00 price objective on shares of Alphabet and gave the stock a “neutral” rating in a research note on Thursday, October 9th. Oppenheimer reaffirmed an “outperform” rating and set a $270.00 price objective (up from $235.00) on shares of Alphabet in a research note on Wednesday, September 3rd. Phillip Securities cut shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, September 8th. Finally, Jefferies Financial Group upped their price objective on shares of Alphabet from $230.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. Six analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $244.68.

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.