Assetmark Inc. Acquires 80,856 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Assetmark Inc. boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,228,026 shares of the information services provider's stock after buying an additional 80,856 shares during the period. Alphabet accounts for approximately 1.0% of Assetmark Inc.'s portfolio, making the stock its 20th biggest holding. Assetmark Inc.'s holdings in Alphabet were worth $369,518,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MorganRosel Wealth Management LLC grew its stake in shares of Alphabet by 3.6% in the second quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider's stock worth $295,000 after purchasing an additional 57 shares in the last quarter. Hengehold Capital Management LLC lifted its holdings in Alphabet by 0.8% in the second quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider's stock worth $1,316,000 after purchasing an additional 60 shares during the period. Christopher J. Hasenberg Inc grew its position in Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider's stock valued at $26,000 after buying an additional 60 shares in the last quarter. First PREMIER Bank grew its position in Alphabet by 3.8% in the 3rd quarter. First PREMIER Bank now owns 1,655 shares of the information services provider's stock valued at $275,000 after buying an additional 61 shares in the last quarter. Finally, MKT Advisors LLC increased its stake in Alphabet by 0.8% during the 3rd quarter. MKT Advisors LLC now owns 7,363 shares of the information services provider's stock valued at $1,221,000 after buying an additional 62 shares during the period. Hedge funds and other institutional investors own 40.03% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on GOOGL shares. Royal Bank of Canada increased their price objective on shares of Alphabet from $204.00 to $210.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. Scotiabank raised Alphabet to a "strong-buy" rating in a research note on Friday, October 11th. Truist Financial lifted their price target on Alphabet from $220.00 to $225.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. BMO Capital Markets restated an "outperform" rating and issued a $217.00 price objective (up previously from $215.00) on shares of Alphabet in a report on Wednesday, October 30th. Finally, Bank of America lifted their target price on Alphabet from $206.00 to $210.00 and gave the stock a "buy" rating in a 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 company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $205.90.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O'toole sold 682 shares of the business's stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total value of $109,420.08. Following the completion of the sale, the chief accounting officer now directly owns 32,017 shares in the company, valued at approximately $5,136,807.48. The trade was a 2.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of the company's stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $158.68, for a total value of $3,570,300.00. Following the sale, the chief executive officer now directly owns 2,137,385 shares of the company's stock, valued at $339,160,251.80. The trade was a 1.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 206,795 shares of company stock worth $34,673,866 in the last 90 days. 11.55% of the stock is owned by insiders.

Alphabet Price Performance

GOOGL opened at $164.76 on Friday. The stock has a fifty day moving average price of $167.64 and a 200 day moving average price of $170.36. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 1 year low of $127.90 and a 1 year high of $191.75. The stock has a market cap of $2.02 trillion, a price-to-earnings ratio of 21.85, a PEG ratio of 1.19 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results 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. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. During the same period in the previous year, the company earned $1.55 EPS. Analysts forecast that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet's dividend payout ratio is 10.61%.

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.