abrdn plc Boosts Position in Alphabet Inc. (NASDAQ:GOOGL)

abrdn plc increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 10.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,305,717 shares of the information services provider's stock after buying an additional 611,233 shares during the period. Alphabet comprises approximately 1.9% of abrdn plc's holdings, making the stock its 5th biggest holding. abrdn plc owned about 0.05% of Alphabet worth $1,037,196,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its stake in Alphabet by 43,005.6% in 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 in the last quarter. SG Americas Securities LLC lifted its holdings in Alphabet by 587.4% during the 3rd quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider's stock worth $1,772,991,000 after buying an additional 9,135,056 shares during the last quarter. Capital Research Global Investors grew its position in shares of Alphabet by 14.4% in the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider's stock worth $8,724,251,000 after acquiring an additional 7,275,757 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Alphabet by 116.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider's stock valued at $1,437,957,000 after acquiring an additional 4,662,809 shares during the last quarter. Finally, Wulff Hansen & CO. raised its position in shares of Alphabet by 18,810.2% during the 2nd quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider's stock valued at $807,700,000 after acquiring an additional 4,410,811 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

Insiders Place Their Bets

In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the sale, the senior vice president now owns 312,210 shares of the company's stock, valued at approximately $50,765,346. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CAO Amie Thuener O'toole sold 682 shares of the company's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the sale, the chief accounting officer now directly owns 32,017 shares in the company, valued at approximately $5,136,807.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the transaction, the senior vice president now owns 312,210 shares of the company's stock, valued at $50,765,346. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 242,552 shares of company stock valued at $40,287,253. Insiders own 11.55% of the company's stock.

Alphabet Stock Down 1.3 %

NASDAQ GOOGL traded down $2.40 on Friday, reaching $178.35. The company had a trading volume of 22,006,182 shares, compared to its average volume of 25,879,976. Alphabet Inc. has a 52-week low of $127.90 and a 52-week high of $191.75. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $2.18 trillion, a P/E ratio of 23.65, a P/E/G ratio of 1.25 and a beta of 1.03. The company's fifty day moving average is $163.54 and its 200 day moving average is $169.67.

Alphabet (NASDAQ:GOOGL - 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 the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analysts' expectations of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period in the previous year, the company earned $1.55 earnings per share. Sell-side analysts anticipate that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.45%. Alphabet's dividend payout ratio (DPR) is currently 10.61%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GOOGL. JMP Securities boosted their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company a "market outperform" rating in a research report on Wednesday, October 30th. Bank of America raised their price target on Alphabet from $206.00 to $210.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Cantor Fitzgerald restated a "neutral" rating and set a $190.00 price objective on shares of Alphabet in a research report on Wednesday, October 30th. Wolfe Research began coverage on Alphabet in a research report on Tuesday, July 16th. They issued an "outperform" rating and a $240.00 target price on the stock. Finally, Evercore ISI upped their price target on shares of Alphabet from $200.00 to $205.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. Seven investment 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 stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $205.90.

Alphabet 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.