Advisors Management Group Inc. ADV grew its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 30.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,204 shares of the information services provider's stock after buying an additional 7,428 shares during the period. Alphabet accounts for about 1.3% of Advisors Management Group Inc. ADV's holdings, making the stock its 27th biggest holding. Advisors Management Group Inc. ADV's holdings in Alphabet were worth $5,341,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the business. International Assets Investment Management LLC increased its position in Alphabet by 43,005.6% during the third quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider's stock worth $31,086,250,000 after purchasing an additional 18,700,111 shares during the last quarter. SG Americas Securities LLC increased its position in Alphabet by 587.4% during the third quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider's stock worth $1,772,991,000 after purchasing an additional 9,135,056 shares during the last quarter. Capital Research Global Investors increased its position in Alphabet by 14.4% during the first quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider's stock worth $8,724,251,000 after purchasing an additional 7,275,757 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Alphabet by 116.4% during the third quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider's stock worth $1,437,957,000 after purchasing an additional 4,662,809 shares during the last quarter. Finally, Wulff Hansen & CO. increased its position in Alphabet by 18,810.2% during the second quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider's stock worth $807,700,000 after purchasing an additional 4,410,811 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on the stock. Cantor Fitzgerald reissued a "neutral" rating and issued a $190.00 price target on shares of Alphabet in a research note on Wednesday, October 30th. Pivotal Research boosted their price target on shares of Alphabet from $215.00 to $225.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. DA Davidson assumed coverage on shares of Alphabet in a research note on Tuesday, September 10th. They issued a "neutral" rating and a $170.00 price target on the stock. Phillip Securities raised shares of Alphabet to a "strong-buy" rating in a research note on Friday, November 1st. Finally, Mizuho boosted their price target on shares of Alphabet from $205.00 to $210.00 and gave the company an "outperform" rating in a research note on Wednesday, July 24th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $205.90.
Get Our Latest Stock Analysis on GOOGL
Insider Buying and Selling
In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $158.68, for a total value of $3,570,300.00. Following the completion of the sale, the chief executive officer now owns 2,137,385 shares in the company, valued at $339,160,251.80. The trade was a 1.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the sale, the director now owns 330,466 shares of the company's stock, valued at $59,741,643.48. This trade represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 184,295 shares of company stock worth $30,698,791. 11.55% of the stock is owned by corporate insiders.
Alphabet Price Performance
Shares of GOOGL stock traded down $3.33 during mid-day trading on Wednesday, reaching $174.79. The stock had a trading volume of 8,021,273 shares, compared to its average volume of 27,012,984. Alphabet Inc. has a 12-month low of $127.90 and a 12-month high of $191.75. The company has a market cap of $2.14 trillion, a P/E ratio of 23.11, a price-to-earnings-growth ratio of 1.23 and a beta of 1.03. The business has a 50-day simple moving average of $166.74 and a 200 day simple moving average of $170.36. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts' consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion during the quarter, compared to analysts' expectations of $72.85 billion. During the same quarter last year, the business posted $1.55 earnings per share. On average, sell-side analysts anticipate that Alphabet Inc. will post 7.99 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 given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet's dividend payout ratio is presently 10.61%.
About Alphabet
(
Free Report)
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.
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