Commerzbank Aktiengesellschaft FI Acquires 1,229 Shares of Alphabet Inc. (NASDAQ:GOOG)

Commerzbank Aktiengesellschaft FI raised its stake in Alphabet Inc. (NASDAQ:GOOG) by 3.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 39,371 shares of the information services provider’s stock after acquiring an additional 1,229 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Alphabet were worth $7,221,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Capital International Investors raised its position in Alphabet by 9.3% during the first quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock valued at $13,355,724,000 after purchasing an additional 7,470,042 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Alphabet by 19.7% in the first quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock worth $12,815,986,000 after acquiring an additional 13,876,534 shares during the period. Capital World Investors boosted its stake in shares of Alphabet by 2.2% in the 1st quarter. Capital World Investors now owns 45,731,826 shares of the information services provider’s stock valued at $6,963,128,000 after purchasing an additional 979,083 shares during the last quarter. Capital Research Global Investors grew its holdings in Alphabet by 2.0% during the 1st quarter. Capital Research Global Investors now owns 35,558,778 shares of the information services provider’s stock worth $5,414,179,000 after acquiring an additional 684,968 shares during the period. Finally, Norges Bank bought a new stake in Alphabet in the fourth quarter worth approximately $4,101,040,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the transaction, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at $50,765,346. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the completion of the sale, the chief executive officer now directly owns 2,182,385 shares in the company, valued at $354,310,204.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the sale, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. The disclosure for this sale can be found here. Insiders have sold 156,565 shares of company stock valued at $27,253,193 over the last quarter. Corporate insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

GOOG has been the topic of a number of research reports. TD Cowen upped their price target on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Oppenheimer upped their target price on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Finally, Rosenblatt Securities downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective on the stock. in a report on Friday, June 28th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Buy” and a consensus target price of $182.86.

Alphabet Stock Performance

NASDAQ:GOOG opened at $168.96 on Wednesday. The firm has a market cap of $2.09 trillion, a PE ratio of 25.91, a price-to-earnings-growth ratio of 1.28 and a beta of 1.05. The business has a 50 day moving average price of $177.02 and a 200-day moving average price of $164.32. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. Alphabet Inc. has a fifty-two week low of $121.46 and a fifty-two week high of $193.31.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. During the same quarter in the prior year, the company earned $1.44 earnings per share. The firm’s revenue for the quarter was up 13.6% on a year-over-year basis. Equities research analysts predict that Alphabet Inc. will post 7.62 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be paid a $0.20 dividend. The ex-dividend date is Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.47%. Alphabet’s payout ratio is 12.27%.

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.