Edmond DE Rothschild Increases Alphabet Holdings to $256.9 Million

Edmond DE Rothschild Holding S.A. has increased its stake in Alphabet Inc., the parent company of Google, by 4.7% during the second quarter of 2023. According to the firm’s latest filing with the Securities and Exchange Commission, it now holds 1,457,732 shares of the tech giant, valued at approximately $256.9 million. This adjustment makes Alphabet the second largest position in the firm’s portfolio, accounting for 4.1% of its total holdings.

Several other institutional investors have also modified their positions in Alphabet recently. Aviso Financial Inc. raised its holdings by 1.2%, bringing its total to 94,642 shares worth about $16.68 million after acquiring an additional 1,148 shares. Similarly, One Charles Private Wealth Services LLC increased its stake by 19.1%, now owning 7,990 shares valued at approximately $1.41 million. Steward Partners Investment Advisory LLC grew its position by 0.5% to 984,065 shares, valued at around $173.42 million. Other notable changes include Burk Holdings LLC, which purchased a new position worth about $242,000, and South Plains Financial Inc., which increased its stake by 6.8% to 19,919 shares worth $3.51 million. In total, institutional investors own 40.03% of Alphabet’s stock.

Insider Trading Activity

In recent insider trading news, Amie Thuener O’toole, the Chief Accounting Officer of Alphabet, sold 954 shares on December 2, 2023, for a total of $302,418 at an average price of $317.00. Following this transaction, she holds 11,740 shares valued at around $3.72 million, representing a decrease of 7.52% in her position.

On December 1, 2023, Frances Arnold, a member of Alphabet’s board of directors, sold 102 shares for about $32,401.32. After this sale, she owns 18,104 shares, valued at approximately $5.75 million, marking a 0.56% decrease in her ownership. Over the past ninety days, insiders have sold a total of 226,128 shares, valued at $61.33 million. Currently, corporate insiders hold 11.64% of Alphabet’s stock.

Performance and Earnings

As of the last trading session, shares of Alphabet opened at $321.27. The company maintains a current ratio of 1.75 and a debt-to-equity ratio of 0.06, alongside a market capitalization of $3.88 trillion. Its price-to-earnings (P/E) ratio stands at 31.68, with a price-to-earnings-growth (PEG) ratio of 1.84. Notably, Alphabet’s stock has fluctuated between a one-year low of $140.53 and a high of $328.83.

Alphabet recently reported its quarterly earnings on October 29, 2023, achieving an earnings per share (EPS) of $2.87, surpassing analyst expectations of $2.29 by $0.58. The company generated revenue of $102.35 billion, exceeding the consensus estimate of $99.90 billion. Alphabet’s net margin stood at 32.23%, with a return on equity of 35.00%. Analysts project that the company will post an EPS of 8.9 for the current fiscal year.

Additionally, Alphabet has announced a quarterly dividend of $0.21 per share, set to be paid on December 15, 2023. Shareholders on record as of December 8, 2023, will receive this dividend, representing an annualized payout of $0.84 and a yield of 0.3%. The ex-dividend date is also December 8, 2023. Currently, Alphabet’s dividend payout ratio stands at 8.28%.

Analyst Ratings and Price Targets

Several research analysts have recently updated their ratings and price targets for Alphabet shares. Oppenheimer raised its price target from $270.00 to $300.00, rating the stock as “outperform.” Meanwhile, Stifel Nicolaus set a target price of $333.00, and Needham & Company LLC increased its target from $260.00 to $330.00, maintaining a “buy” rating. Citigroup reiterated a “buy” rating, raising its target price from $280.00 to $343.00. Morgan Stanley also increased its target from $270.00 to $330.00 while assigning an “overweight” rating.

Overall, four analysts have rated the stock as a “Strong Buy,” forty-one have assigned a “Buy” rating, and six have given it a “Hold” rating. According to data from MarketBeat.com, Alphabet currently holds an average rating of “Moderate Buy” and a consensus target price of $312.65.

Alphabet Inc. continues to play a vital role in the global technology landscape, offering a range of services through its various segments, including Google Services and Google Cloud.