PGGM Investments Has $72.24 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

PGGM Investments raised its position in Alphabet Inc. (NASDAQ:GOOGL) by 8.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 517,109 shares of the information services provider’s stock after acquiring an additional 38,689 shares during the period. Alphabet comprises approximately 1.1% of PGGM Investments’ holdings, making the stock its 24th largest holding. PGGM Investments’ holdings in Alphabet were worth $72,235,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of GOOGL. Opinicus Capital Inc. acquired a new stake in shares of Alphabet during the 4th quarter valued at about $970,000. Unique Wealth Strategies LLC bought a new position in Alphabet during the fourth quarter worth about $4,368,000. McCarthy Asset Management Inc. boosted its holdings in Alphabet by 16.5% during the fourth quarter. McCarthy Asset Management Inc. now owns 15,945 shares of the information services provider’s stock valued at $2,227,000 after purchasing an additional 2,263 shares in the last quarter. Consolidated Planning Corp grew its stake in shares of Alphabet by 2.2% in the 4th quarter. Consolidated Planning Corp now owns 24,507 shares of the information services provider’s stock valued at $3,423,000 after purchasing an additional 526 shares during the period. Finally, Alliance Wealth Advisors LLC UT raised its holdings in shares of Alphabet by 2.6% in the 4th quarter. Alliance Wealth Advisors LLC UT now owns 8,182 shares of the information services provider’s stock worth $1,143,000 after buying an additional 205 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total value of $3,291,525.00. Following the completion of the sale, the chief executive officer now owns 2,377,691 shares of the company’s stock, valued at $347,832,416.39. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total value of $3,291,525.00. Following the completion of the sale, the chief executive officer now directly owns 2,377,691 shares in the company, valued at $347,832,416.39. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director John L. Hennessy sold 800 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $149.73, for a total transaction of $119,784.00. Following the sale, the director now directly owns 7,164 shares of the company’s stock, valued at approximately $1,072,665.72. The disclosure for this sale can be found here. Insiders sold 275,129 shares of company stock worth $40,382,765 in the last ninety days. 0.88% of the stock is owned by company insiders.

Alphabet Stock Up 0.4 %

GOOGL opened at $167.24 on Monday. Alphabet Inc. has a 1-year low of $103.97 and a 1-year high of $174.71. The stock has a market cap of $2.08 trillion, a PE ratio of 25.65, a price-to-earnings-growth ratio of 1.28 and a beta of 1.02. The stock’s fifty day simple moving average is $150.14 and its 200 day simple moving average is $142.36. The company has a current ratio of 2.15, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.49 by $0.40. The business had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same quarter in the previous year, the firm posted $1.17 EPS. As a group, research analysts expect that Alphabet Inc. will post 7.57 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.80 annualized dividend and a yield of 0.48%.

Analysts Set New Price Targets

Several analysts recently commented on GOOGL shares. Morgan Stanley boosted their price target on Alphabet from $165.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Wells Fargo & Company boosted their target price on Alphabet from $141.00 to $168.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. JPMorgan Chase & Co. boosted their price objective on Alphabet from $165.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Royal Bank of Canada lifted their price target on Alphabet from $155.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Finally, Wedbush boosted their target price on shares of Alphabet from $175.00 to $205.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Five equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $190.60.

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.