Mediolanum International Funds Ltd Has $171.77 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Mediolanum International Funds Ltd cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 14.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 900,392 shares of the information services provider’s stock after selling 150,517 shares during the quarter. Alphabet makes up 2.2% of Mediolanum International Funds Ltd’s portfolio, making the stock its 6th largest position. Mediolanum International Funds Ltd’s holdings in Alphabet were worth $171,768,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Newport Capital Group LLC acquired a new position in Alphabet during the second quarter worth $1,111,000. Gateway Wealth Partners LLC increased its stake in shares of Alphabet by 4.6% during the 2nd quarter. Gateway Wealth Partners LLC now owns 10,765 shares of the information services provider’s stock worth $1,961,000 after purchasing an additional 472 shares during the last quarter. Kimelman & Baird LLC acquired a new position in shares of Alphabet during the 2nd quarter worth about $52,394,000. Brandes Investment Partners LP raised its holdings in shares of Alphabet by 3.3% in the 2nd quarter. Brandes Investment Partners LP now owns 414,107 shares of the information services provider’s stock valued at $75,515,000 after purchasing an additional 13,096 shares during the period. Finally, EP Wealth Advisors LLC lifted its stake in Alphabet by 2.8% in the 2nd quarter. EP Wealth Advisors LLC now owns 869,170 shares of the information services provider’s stock valued at $158,319,000 after purchasing an additional 23,472 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $185.34 on Friday. 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 firm has a market capitalization of $2.27 trillion, a PE ratio of 24.58, a price-to-earnings-growth ratio of 1.31 and a beta of 0.99. Alphabet Inc. has a twelve month low of $130.66 and a twelve month high of $207.05. The stock’s 50-day simple moving average is $191.28 and its 200 day simple moving average is $174.64.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. On average, analysts anticipate that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.43%. Alphabet’s payout ratio is presently 10.61%.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the sale, the chief executive officer now directly owns 2,061,806 shares in the company, valued at approximately $364,259,266.02. The trade was a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total transaction of $232,950.47. Following the completion of the transaction, the chief accounting officer now owns 23,515 shares of the company’s stock, valued at approximately $4,007,191.15. This trade represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 89,529 shares of company stock worth $16,600,078. Corporate insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the topic of several research analyst reports. Truist Financial upped their price objective on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Piper Sandler dropped their price target on Alphabet from $210.00 to $208.00 and set an “overweight” rating on the stock in a research note on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and set a $225.00 price objective on shares of Alphabet in a research report on Wednesday. Morgan Stanley dropped their price objective on shares of Alphabet from $215.00 to $210.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, China Renaissance raised shares of Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Ten investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $210.62.

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.