Alphabet Inc. $GOOGL is Mediolanum International Funds Ltd’s 7th Largest Position

Mediolanum International Funds Ltd increased its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 901,577 shares of the information services provider’s stock after buying an additional 6,535 shares during the period. Alphabet comprises 1.9% of Mediolanum International Funds Ltd’s portfolio, making the stock its 7th largest holding. Mediolanum International Funds Ltd’s holdings in Alphabet were worth $160,959,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GOOGL. Nuveen LLC acquired a new stake in shares of Alphabet during the first quarter worth $4,317,606,000. Vanguard Group Inc. boosted its stake in Alphabet by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock worth $78,839,544,000 after buying an additional 14,307,345 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Alphabet by 11.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock valued at $6,783,364,000 after buying an additional 4,473,901 shares during the period. Geode Capital Management LLC grew its holdings in Alphabet by 3.1% in the 2nd quarter. Geode Capital Management LLC now owns 141,615,284 shares of the information services provider’s stock valued at $24,857,017,000 after buying an additional 4,224,497 shares during the period. Finally, Amundi increased its stake in shares of Alphabet by 11.8% during the 1st quarter. Amundi now owns 33,403,871 shares of the information services provider’s stock valued at $5,034,992,000 after acquiring an additional 3,537,173 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GOOGL has been the topic of several research analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Alphabet in a research report on Wednesday, October 8th. Daiwa Capital Markets lifted their price target on shares of Alphabet from $233.00 to $333.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Tigress Financial upped their price objective on Alphabet from $240.00 to $280.00 and gave the stock a “strong-buy” rating in a report on Friday, September 5th. Melius Research lifted their target price on Alphabet from $220.00 to $255.00 in a report on Thursday, September 25th. Finally, Arete upped their price target on Alphabet from $300.00 to $380.00 and gave the stock a “buy” rating in a research note on Tuesday. Four research analysts have rated the stock with a Strong Buy rating, forty-one have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $312.06.

Insider Activity

In other Alphabet news, insider John Kent Walker sold 17,816 shares of the business’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the transaction, the insider owned 42,985 shares in the company, valued at $10,635,348.70. The trade was a 29.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the sale, the chief accounting officer owned 17,293 shares of the company’s stock, valued at $4,236,785. This represents a 13.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 193,628 shares of company stock worth $50,942,622. 11.55% of the stock is currently owned by company insiders.

Alphabet Trading Up 0.3%

Shares of GOOGL opened at $315.81 on Wednesday. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $328.83. The stock’s 50-day moving average is $271.77 and its two-hundred day moving average is $221.67. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.75. The stock has a market cap of $3.81 trillion, a PE ratio of 31.15, a P/E/G ratio of 1.82 and a beta of 1.07.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating the consensus estimate of $2.29 by $0.58. The business had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a return on equity of 35.00% and a net margin of 32.23%. Equities analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be given 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 payout ratio is presently 8.28%.

About Alphabet

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.