MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Raises Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its position in Alphabet Inc. (NASDAQ:GOOGL) by 22.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 319,647 shares of the information services provider’s stock after buying an additional 57,792 shares during the quarter. Alphabet accounts for approximately 1.9% of MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings, making the stock its 11th biggest holding. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Alphabet were worth $58,224,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Christopher J. Hasenberg Inc increased its position in Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares during the period. Kings Path Partners LLC purchased a new position in Alphabet during the 2nd quarter valued at $36,000. Tributary Capital Management LLC purchased a new position in Alphabet during the 1st quarter valued at $30,000. Vermillion & White Wealth Management Group LLC purchased a new position in Alphabet during the 4th quarter valued at $30,000. Finally, CarsonAllaria Wealth Management Ltd. increased its position in Alphabet by 59.2% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after purchasing an additional 109 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction that occurred 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 owns 312,210 shares in the company, valued at $50,765,346. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total value of $125,126.54. Following the sale, the chief accounting officer now owns 30,650 shares in the company, valued at $5,623,355.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the sale, the senior vice president now owns 312,210 shares in the company, valued at approximately $50,765,346. The disclosure for this sale can be found here. Insiders have sold a total of 179,367 shares of company stock worth $30,016,931 over the last quarter. Insiders own 11.55% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on GOOGL. Bank of America upped their target price on shares of Alphabet from $200.00 to $206.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Truist Financial upped their target price on shares of Alphabet from $190.00 to $196.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Piper Sandler reduced their target price on shares of Alphabet from $206.00 to $200.00 and set an “overweight” rating on the stock in a research report on Tuesday. Argus upped their target price on shares of Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Finally, Morgan Stanley reduced their target price on shares of Alphabet from $205.00 to $190.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 3rd. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $201.76.

Alphabet Price Performance

NASDAQ GOOGL opened at $157.46 on Friday. Alphabet Inc. has a 12 month low of $120.21 and a 12 month high of $191.75. The stock has a market cap of $1.94 trillion, a price-to-earnings ratio of 24.15, a PEG ratio of 1.13 and a beta of 1.04. The company’s 50 day moving average is $167.46 and its two-hundred day moving average is $164.49. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. During the same quarter last year, the business earned $1.44 EPS. As a group, research analysts anticipate that Alphabet Inc. will post 7.64 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s payout ratio is currently 12.27%.

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.