Financial Counselors Inc. raised its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 729,894 shares of the information services provider's stock after buying an additional 22,102 shares during the period. Alphabet makes up approximately 1.8% of Financial Counselors Inc.'s portfolio, making the stock its 6th largest position. Financial Counselors Inc.'s holdings in Alphabet were worth $121,053,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the business. International Assets Investment Management LLC raised 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 valued at $31,086,250,000 after buying an additional 18,700,111 shares in the last quarter. SG Americas Securities LLC raised its position in shares of 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 acquiring an additional 9,135,056 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Alphabet by 116.4% during the third quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider's stock worth $1,437,957,000 after purchasing an additional 4,662,809 shares during the last quarter. Wulff Hansen & CO. boosted its holdings in Alphabet by 18,810.2% in the second quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider's stock valued at $807,700,000 after purchasing an additional 4,410,811 shares in the last quarter. Finally, PineStone Asset Management Inc. increased its stake in Alphabet by 143.7% in the second quarter. PineStone Asset Management Inc. now owns 7,072,197 shares of the information services provider's stock valued at $1,288,201,000 after purchasing an additional 4,170,229 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.
Alphabet Price Performance
GOOGL stock traded up $10.23 on Wednesday, reaching $195.40. The company had a trading volume of 67,765,187 shares, compared to its average volume of 27,375,107. The company's fifty day moving average is $170.07 and its 200 day moving average is $170.28. The company has a market cap of $2.39 trillion, a P/E ratio of 25.53, a PEG ratio of 1.24 and a beta of 1.01. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. Alphabet Inc. has a 1 year low of $129.68 and a 1 year high of $195.61.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period in the prior year, the business earned $1.55 earnings per share. On average, research analysts forecast that Alphabet Inc. will post 8.01 earnings per share for the current year.
Alphabet Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be issued a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.41%. Alphabet's dividend payout ratio (DPR) is presently 10.61%.
Insiders Place Their Bets
In related news, Director Kavitark Ram Shriram sold 37,134 shares of Alphabet stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total value of $6,870,532.68. Following the transaction, the director now owns 282,832 shares in the company, valued at approximately $52,329,576.64. This trade represents a 11.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 800 shares of the company's stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $153.75, for a total value of $123,000.00. Following the sale, the director now owns 28,524 shares of the company's stock, valued at $4,385,565. This represents a 2.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 197,923 shares of company stock valued at $34,244,676 in the last quarter. 11.55% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
GOOGL has been the topic of a number of recent analyst reports. Royal Bank of Canada increased their target price on shares of Alphabet from $204.00 to $210.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. Tigress Financial lifted their target price on Alphabet from $210.00 to $220.00 and gave the stock a "strong-buy" rating in a research report on Thursday, September 26th. Scotiabank raised Alphabet to a "strong-buy" rating in a research report on Friday, October 11th. Sanford C. Bernstein lifted their price target on Alphabet from $180.00 to $185.00 and gave the stock a "market perform" rating in a research report on Wednesday, October 30th. Finally, JMP Securities raised their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock a "market outperform" rating in a research report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and an average price target of $206.03.
View Our Latest Report on Alphabet
About Alphabet
(
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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