Charles Schwab Investment Management Inc. Raises Position in Alphabet Inc. (NASDAQ:GOOG)

Charles Schwab Investment Management Inc. raised its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 0.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,948,827 shares of the information services provider's stock after purchasing an additional 3,746 shares during the period. Alphabet makes up approximately 1.0% of Charles Schwab Investment Management Inc.'s investment portfolio, making the stock its 14th biggest position. Charles Schwab Investment Management Inc. owned 0.24% of Alphabet worth $5,007,144,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Abich Financial Wealth Management LLC grew its stake in shares of Alphabet by 9,200.0% during the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider's stock worth $34,000 after buying an additional 184 shares during the last quarter. 1620 Investment Advisors Inc. bought a new stake in shares of Alphabet during the second quarter worth $37,000. HWG Holdings LP bought a new stake in shares of Alphabet during the second quarter worth $40,000. Sanctuary Wealth Management L.L.C. grew its stake in shares of Alphabet by 87.3% during the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider's stock worth $42,000 after buying an additional 117 shares during the last quarter. Finally, Slocum Gordon & Co LLP bought a new stake in shares of Alphabet during the second quarter worth $44,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider John Kent Walker sold 21,467 shares of Alphabet stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total value of $3,442,233.45. Following the completion of the transaction, the insider now directly owns 39,334 shares in the company, valued at approximately $6,307,206.90. The trade was a 35.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O'toole sold 682 shares of the stock in a transaction 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 sale, the chief accounting officer now owns 32,017 shares in the company, valued at approximately $5,136,807.48. This represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 206,795 shares of company stock valued at $34,673,866. Insiders own 12.99% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on GOOG. Cantor Fitzgerald raised shares of Alphabet to a "hold" rating in a research note on Thursday, September 5th. JPMorgan Chase & Co. boosted 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. Scotiabank started coverage on shares of Alphabet in a research note on Friday, October 11th. They issued a "sector outperform" rating and a $212.00 price objective on the stock. Citigroup boosted their price objective on shares of Alphabet from $212.00 to $216.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Finally, DA Davidson raised shares of Alphabet to a "hold" rating in a research note on Tuesday, September 10th. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, Alphabet has an average rating of "Moderate Buy" and an average target price of $200.56.

Alphabet Stock Down 4.4 %

Shares of NASDAQ GOOG traded down $7.84 during mid-day trading on Thursday, reaching $169.49. 31,830,611 shares of the company's stock traded hands, compared to its average volume of 19,627,037. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The business has a 50-day simple moving average of $168.93 and a 200 day simple moving average of $171.90. The stock has a market cap of $2.07 trillion, a P/E ratio of 22.48, a PEG ratio of 1.26 and a beta of 1.04. Alphabet Inc. has a 1-year low of $129.40 and a 1-year high of $193.31.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts' consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. During the same period in the previous year, the company posted $1.55 EPS. The company's revenue for the quarter was up 15.1% on a year-over-year basis. On average, analysts expect that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Announces Dividend

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 0.47%. Alphabet's dividend payout ratio (DPR) is currently 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.