Troy Asset Management Ltd Has $328.41 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Troy Asset Management Ltd lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,980,134 shares of the information services provider’s stock after selling 9,069 shares during the quarter. Alphabet comprises 10.6% of Troy Asset Management Ltd’s investment portfolio, making the stock its 3rd biggest holding. Troy Asset Management Ltd’s holdings in Alphabet were worth $328,405,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. lifted its stake in Alphabet by 70.6% in the first quarter. China Universal Asset Management Co. Ltd. now owns 101,230 shares of the information services provider’s stock valued at $15,279,000 after buying an additional 41,880 shares during the period. Quent Capital LLC increased its stake in shares of Alphabet by 3.6% in the 1st quarter. Quent Capital LLC now owns 31,171 shares of the information services provider’s stock valued at $4,705,000 after acquiring an additional 1,072 shares in the last quarter. City of London Investment Management Co. Ltd. increased its stake in shares of Alphabet by 70.5% in the 1st quarter. City of London Investment Management Co. Ltd. now owns 185,415 shares of the information services provider’s stock valued at $27,961,000 after acquiring an additional 76,650 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Alphabet by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock valued at $75,144,172,000 after acquiring an additional 4,064,073 shares during the period. Finally, TIAA Trust National Association boosted its stake in Alphabet by 3.6% during the first quarter. TIAA Trust National Association now owns 1,093,974 shares of the information services provider’s stock worth $165,113,000 after acquiring an additional 37,798 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $153.75, for a total transaction of $123,000.00. Following the completion of the transaction, the director now directly owns 28,524 shares in the company, valued at $4,385,565. The trade was a 2.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the transaction, the chief accounting officer now owns 29,182 shares in the company, valued at $4,421,948.46. This represents a 8.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 206,795 shares of company stock worth $34,673,866 in the last quarter. 11.55% of the stock is owned by company insiders.

Alphabet Stock Performance

NASDAQ GOOGL opened at $164.76 on Friday. The firm has a market cap of $2.02 trillion, a P/E ratio of 21.85, a price-to-earnings-growth ratio of 1.19 and a beta of 1.03. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The company’s 50 day moving average is $167.64 and its 200-day moving average is $170.35. Alphabet Inc. has a 12-month low of $127.90 and a 12-month high of $191.75.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter in the previous year, the firm posted $1.55 EPS. Sell-side analysts predict that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. Alphabet’s dividend payout ratio (DPR) is 10.61%.

Analysts Set New Price Targets

GOOGL has been the subject of several research analyst reports. Tigress Financial lifted their price target on shares of Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research note on Thursday, September 26th. DA Davidson began coverage on Alphabet in a research report on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 target price for the company. Scotiabank upgraded Alphabet to a “strong-buy” rating in a report on Friday, October 11th. Morgan Stanley raised their price objective on Alphabet from $190.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $210.00 target price on shares of Alphabet in a research report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average target price of $205.90.

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.