Concurrent Investment Advisors LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 6.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 106,768 shares of the information services provider's stock after buying an additional 6,529 shares during the period. Concurrent Investment Advisors LLC's holdings in Alphabet were worth $17,851,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in GOOG. Capital International Investors lifted its position in shares of Alphabet by 9.3% during the first quarter. Capital International Investors now owns 87,716,562 shares of the information services provider's stock valued at $13,355,724,000 after buying an additional 7,470,042 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Alphabet by 19.7% in the 1st quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider's stock worth $12,815,986,000 after purchasing an additional 13,876,534 shares during the period. Capital World Investors lifted its position in shares of Alphabet by 2.2% during the 1st quarter. Capital World Investors now owns 45,731,826 shares of the information services provider's stock valued at $6,963,128,000 after buying an additional 979,083 shares in the last quarter. Capital Research Global Investors raised its position in shares of Alphabet by 2.0% during the 1st quarter. Capital Research Global Investors now owns 35,558,778 shares of the information services provider's stock worth $5,414,179,000 after purchasing an additional 684,968 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Alphabet by 4.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 14,657,421 shares of the information services provider's stock worth $2,688,743,000 after buying an additional 636,008 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.
Alphabet Stock Up 2.1 %
Alphabet stock traded up $3.69 during mid-day trading on Thursday, hitting $182.02. The company had a trading volume of 10,665,441 shares, compared to its average volume of 19,658,262. The stock has a market cap of $2.24 trillion, a price-to-earnings ratio of 23.87, a PEG ratio of 1.20 and a beta of 1.04. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 1 year low of $129.40 and a 1 year high of $193.31. The business has a fifty day moving average of $164.24 and a 200 day moving average of $170.89.
Alphabet (NASDAQ:GOOG - 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 net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion during the quarter, compared to analysts' expectations of $86.39 billion. During the same period in the previous year, the company earned $1.55 earnings per share. Alphabet's quarterly revenue was up 15.1% compared to the same quarter last year. On average, sell-side analysts expect that Alphabet Inc. will post 7.97 earnings per share for the current fiscal year.
Alphabet Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.44%. Alphabet's dividend payout ratio (DPR) is presently 10.61%.
Insider Activity
In related news, CAO Amie Thuener O'toole sold 2,835 shares of the firm's stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the transaction, the chief accounting officer now owns 29,182 shares of the company's stock, valued at $4,421,948.46. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CAO Amie Thuener O'toole sold 2,835 shares of Alphabet stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the sale, the chief accounting officer now owns 29,182 shares of the company's stock, valued at $4,421,948.46. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $177.36, for a total transaction of $3,990,600.00. Following the sale, the chief executive officer now directly owns 2,084,306 shares in the company, valued at $369,672,512.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 232,052 shares of company stock valued at $38,424,448 in the last ninety days. 12.99% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on GOOG. Wells Fargo & Company raised their price target on shares of Alphabet from $182.00 to $187.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 30th. Canaccord Genuity Group raised their target price on Alphabet from $220.00 to $225.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. lifted their target price on shares of Alphabet from $208.00 to $212.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 30th. Cantor Fitzgerald upgraded shares of Alphabet to a "hold" rating in a report on Thursday, September 5th. Finally, UBS Group upped their price objective on Alphabet from $187.00 to $192.00 and gave the company a "neutral" rating in a report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Alphabet has an average rating of "Moderate Buy" and an average price target of $200.56.
Check Out Our Latest Stock Analysis on Alphabet
Alphabet Profile
(
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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