Alphabet Inc. (NASDAQ:GOOG) Position Reduced by MetLife Investment Management LLC

MetLife Investment Management LLC lessened its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 3.7% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,475,457 shares of the information services provider's stock after selling 57,217 shares during the period. Alphabet accounts for approximately 1.4% of MetLife Investment Management LLC's portfolio, making the stock its 7th largest holding. MetLife Investment Management LLC's holdings in Alphabet were worth $246,682,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in GOOG. Swedbank AB purchased a new stake in Alphabet during the 1st quarter valued at $1,378,708,000. FMR LLC lifted its holdings in shares of Alphabet by 5.2% in the 3rd quarter. FMR LLC now owns 114,802,133 shares of the information services provider's stock valued at $19,193,768,000 after acquiring an additional 5,655,022 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Alphabet by 65.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 6,294,332 shares of the information services provider's stock worth $1,052,349,000 after purchasing an additional 2,500,621 shares during the period. Vima LLC raised its position in Alphabet by 178,253.1% in the 1st quarter. Vima LLC now owns 2,001,122 shares of the information services provider's stock worth $304,691,000 after purchasing an additional 2,000,000 shares during the period. Finally, Granite Bay Wealth Management LLC increased its position in shares of Alphabet by 6,610.0% during the second quarter. Granite Bay Wealth Management LLC now owns 1,769,160 shares of the information services provider's stock worth $301,312,000 after acquiring an additional 1,742,794 shares during the period. Institutional investors own 27.26% of the company's stock.

Alphabet Price Performance

Shares of GOOG traded up $0.20 during midday trading on Wednesday, hitting $170.82. 12,421,027 shares of the company traded hands, compared to its average volume of 19,605,984. The firm has a market cap of $2.09 trillion, a P/E ratio of 22.66, a PEG ratio of 1.18 and a beta of 1.04. Alphabet Inc. has a one year low of $129.40 and a one year high of $193.31. The stock has a 50-day moving average of $169.71 and a 200-day moving average of $171.85. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. During the same period in the prior year, the business earned $1.55 EPS. The company's revenue for the quarter was up 15.1% on a year-over-year basis. As a group, sell-side analysts predict that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date is Monday, December 9th. Alphabet's dividend payout ratio (DPR) is currently 10.61%.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of the business'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 completion of the sale, the chief executive officer now owns 2,061,806 shares of the company's stock, valued at approximately $364,259,266.02. The trade was a 1.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction that occurred on Wednesday, October 30th. The stock was 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 directly owns 330,466 shares in the company, valued at $59,741,643.48. This represents a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 206,795 shares of company stock worth $34,673,866. 12.99% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. DA Davidson raised shares of Alphabet to a "hold" rating in a report on Tuesday, September 10th. Cantor Fitzgerald upgraded shares of Alphabet to a "hold" rating in a report on Thursday, September 5th. Seaport Res Ptn raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 29th. JPMorgan Chase & Co. increased their price objective on shares of Alphabet from $208.00 to $212.00 and gave the company an "overweight" rating in a research report on Wednesday, October 30th. Finally, Citigroup increased their target price on shares of Alphabet from $212.00 to $216.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $200.56.

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.