Mirae Asset Global Investments Co. Ltd. Has $712.56 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Mirae Asset Global Investments Co. Ltd. decreased its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 3,705,182 shares of the information services provider’s stock after selling 779 shares during the quarter. Alphabet comprises 2.9% of Mirae Asset Global Investments Co. Ltd.’s investment portfolio, making the stock its 7th biggest position. Mirae Asset Global Investments Co. Ltd.’s holdings in Alphabet were worth $712,560,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Strategic Wealth Partners Ltd. raised its holdings in Alphabet by 9.8% during the 3rd quarter. Strategic Wealth Partners Ltd. now owns 81,302 shares of the information services provider’s stock valued at $13,484,000 after buying an additional 7,247 shares during the period. Sovereign Financial Group Inc. increased its position in Alphabet by 0.6% during the third quarter. Sovereign Financial Group Inc. now owns 37,215 shares of the information services provider’s stock valued at $6,172,000 after acquiring an additional 205 shares during the last quarter. StoneCrest Wealth Management Inc. raised its stake in shares of Alphabet by 0.7% in the third quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock valued at $3,567,000 after acquiring an additional 140 shares during the period. Partnership Wealth Management LLC lifted its holdings in shares of Alphabet by 40.5% in the 3rd quarter. Partnership Wealth Management LLC now owns 801 shares of the information services provider’s stock worth $133,000 after acquiring an additional 231 shares during the last quarter. Finally, First PREMIER Bank boosted its stake in shares of Alphabet by 3.8% during the 3rd quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock worth $275,000 after purchasing an additional 61 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Trading Down 0.5 %

Shares of Alphabet stock opened at $185.23 on Friday. Alphabet Inc. has a 12-month low of $130.66 and a 12-month high of $207.05. The firm’s 50 day simple moving average is $192.64 and its two-hundred day simple moving average is $175.03. The company has a current ratio of 1.84, a quick ratio of 1.95 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $2.27 trillion, a price-to-earnings ratio of 23.01, a PEG ratio of 1.39 and a beta of 0.99.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Analysts predict that Alphabet Inc. will post 8.91 EPS for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be given a $0.20 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.43%. Alphabet’s dividend payout ratio is currently 9.94%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Cantor Fitzgerald reduced their price objective on shares of Alphabet from $215.00 to $210.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 22nd. Citigroup decreased their price target on Alphabet from $232.00 to $229.00 and set a “buy” rating for the company in a research note on Wednesday, February 5th. Robert W. Baird restated an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a report on Tuesday, December 10th. Needham & Company LLC reissued a “buy” rating and set a $225.00 target price on shares of Alphabet in a research note on Wednesday, February 5th. Finally, Pivotal Research upped their price target on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $210.62.

Insider Buying and Selling

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

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.