InTrack Investment Management Inc grew its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 46.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,276 shares of the information services provider's stock after purchasing an additional 2,929 shares during the quarter. Alphabet makes up 1.2% of InTrack Investment Management Inc's portfolio, making the stock its 24th biggest position. InTrack Investment Management Inc's holdings in Alphabet were worth $1,772,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of the business. FMR LLC raised its holdings in Alphabet by 5.2% in the third quarter. FMR LLC now owns 114,802,133 shares of the information services provider's stock worth $19,193,768,000 after purchasing an additional 5,655,022 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Alphabet by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 103,557,486 shares of the information services provider's stock worth $17,247,208,000 after acquiring an additional 259,213 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Alphabet by 10.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider's stock valued at $5,573,125,000 after acquiring an additional 3,113,395 shares during the last quarter. Jennison Associates LLC boosted its stake in Alphabet by 9.1% in the third quarter. Jennison Associates LLC now owns 15,424,324 shares of the information services provider's stock valued at $2,578,793,000 after acquiring an additional 1,291,274 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in Alphabet by 2.5% in the third quarter. Principal Financial Group Inc. now owns 11,024,276 shares of the information services provider's stock worth $1,843,149,000 after purchasing an additional 264,962 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.
Insiders Place Their Bets
In other news, insider John Kent Walker sold 16,820 shares of the company's stock in a transaction on Monday, December 30th. The shares were sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the completion of the sale, the insider now owns 43,981 shares of the company's stock, valued at $8,471,620.22. This represents a 27.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the firm's stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the completion of the transaction, the director now directly owns 330,466 shares in the company, valued at approximately $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. Over the last ninety days, insiders sold 133,387 shares of company stock worth $24,368,654. Company insiders own 12.99% of the company's stock.
Alphabet Stock Performance
GOOG stock traded up $3.14 during midday trading on Monday, hitting $197.55. 21,974,853 shares of the stock traded hands, compared to its average volume of 16,381,408. Alphabet Inc. has a 1-year low of $131.55 and a 1-year high of $202.88. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The stock's fifty day simple moving average is $185.92 and its 200-day simple moving average is $174.76. The firm has a market cap of $2.42 trillion, a P/E ratio of 26.20, a PEG ratio of 1.21 and a beta of 0.99.
Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts' consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analysts' expectations of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. Alphabet's quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.55 EPS. On average, analysts expect that Alphabet Inc. will post 8.03 earnings per share for the current year.
Alphabet Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet's payout ratio is presently 10.61%.
Analysts Set New Price Targets
Several analysts have recently commented on GOOG shares. Canaccord Genuity Group increased their price objective on Alphabet from $220.00 to $225.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Citizens Jmp downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 2nd. Pivotal Research upped their price objective on shares of Alphabet from $215.00 to $225.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Seaport Res Ptn upgraded shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, October 29th. Finally, Jefferies Financial Group upped their target price on Alphabet from $220.00 to $235.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $200.56.
Read Our Latest Research Report on Alphabet
About Alphabet
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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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