Allstate Corp Purchases 144,740 Shares of Alphabet Inc. (NASDAQ:GOOG)

Allstate Corp lifted its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 3,178.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 149,294 shares of the information services provider's stock after buying an additional 144,740 shares during the period. Alphabet comprises approximately 0.8% of Allstate Corp's portfolio, making the stock its 20th biggest position. Allstate Corp's holdings in Alphabet were worth $28,432,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of GOOG. GPS Wealth Strategies Group LLC increased its stake in shares of Alphabet by 6.8% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 16,248 shares of the information services provider's stock worth $3,094,000 after acquiring an additional 1,041 shares during the last quarter. North Forty Two & Co. acquired a new position in Alphabet in the 4th quarter worth about $281,000. Coldstream Capital Management Inc. raised its stake in shares of Alphabet by 14.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider's stock worth $19,642,000 after purchasing an additional 14,738 shares in the last quarter. Requisite Capital Management LLC purchased a new stake in shares of Alphabet during the 4th quarter worth about $927,000. Finally, Stevens Capital Management LP grew its stake in shares of Alphabet by 172.9% in the 3rd quarter. Stevens Capital Management LP now owns 91,237 shares of the information services provider's stock valued at $15,254,000 after buying an additional 57,810 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.

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Insider Transactions at Alphabet

In other Alphabet news, insider Ruth Porat sold 17,690 shares of Alphabet stock in a transaction on Friday, February 21st. The shares were sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the completion of the transaction, the insider now directly owns 1,449,286 shares of the company's stock, valued at $265,914,995.28. The trade was a 1.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 200 shares of the company's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the transaction, the director now owns 7,813 shares in the company, valued at approximately $1,293,285.89. This represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 87,992 shares of company stock worth $16,097,111 in the last 90 days. Corporate insiders own 12.99% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $200.00 price objective on shares of Alphabet in a research report on Wednesday, March 19th. Needham & Company LLC reaffirmed a "buy" rating on shares of Alphabet in a research note on Wednesday, February 5th. Citizens Jmp downgraded shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 2nd. Oppenheimer boosted their price target on Alphabet from $215.00 to $225.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Finally, Wedbush reissued an "outperform" rating and issued a $220.00 price objective on shares of Alphabet in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and a consensus target price of $208.56.

Alphabet Stock Up 0.1 %

Shares of GOOG stock traded up $0.22 during trading on Monday, reaching $156.28. The company's stock had a trading volume of 19,729,620 shares, compared to its average volume of 19,723,809. Alphabet Inc. has a one year low of $148.20 and a one year high of $208.70. The business has a fifty day moving average price of $181.53 and a 200-day moving average price of $178.69. The company has a market cap of $1.91 trillion, a price-to-earnings ratio of 19.42, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.51%. The ex-dividend date was Monday, March 10th. Alphabet's dividend payout ratio (DPR) is 9.94%.

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.