Conning Inc. reduced its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 9.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,866 shares of the information services provider's stock after selling 2,899 shares during the period. Conning Inc.'s holdings in Alphabet were worth $5,116,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in GOOG. FMR LLC boosted its stake in Alphabet by 5.2% during the third quarter. FMR LLC now owns 114,802,133 shares of the information services provider's stock valued at $19,193,768,000 after buying an additional 5,655,022 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Alphabet by 10.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider's stock valued at $5,573,125,000 after buying an additional 3,113,395 shares during the period. Assenagon Asset Management S.A. boosted its stake in Alphabet by 65.9% during the third quarter. Assenagon Asset Management S.A. now owns 6,294,332 shares of the information services provider's stock valued at $1,052,349,000 after buying an additional 2,500,621 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Alphabet by 182.1% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,526,055 shares of the information services provider's stock valued at $422,331,000 after buying an additional 1,630,701 shares during the period. Finally, Jennison Associates LLC boosted its stake in Alphabet by 9.1% during the third quarter. Jennison Associates LLC now owns 15,424,324 shares of the information services provider's stock valued at $2,578,793,000 after buying an additional 1,291,274 shares during the period. 27.26% of the stock is owned by institutional investors.
Insider Activity at Alphabet
In related news, CEO Sundar Pichai sold 22,500 shares of the business's stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the transaction, the chief executive officer now owns 2,061,806 shares in the company, valued at $364,259,266.02. The trade was a 1.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O'toole sold 1,340 shares of the business's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $202.08, for a total value of $270,787.20. Following the transaction, the chief accounting officer now owns 17,848 shares in the company, valued at approximately $3,606,723.84. This represents a 6.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 89,529 shares of company stock worth $16,600,078 in the last 90 days. Company insiders own 12.99% of the company's stock.
Alphabet Trading Down 0.5 %
Shares of GOOG traded down $1.01 during trading hours on Friday, hitting $186.87. The company had a trading volume of 12,668,379 shares, compared to its average volume of 17,640,524. The firm has a market cap of $2.29 trillion, a P/E ratio of 23.21, a P/E/G ratio of 1.39 and a beta of 1.00. The stock's 50 day moving average price is $194.37 and its 200 day moving average price is $176.65. The company has a quick ratio of 1.95, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 52-week low of $131.55 and a 52-week high of $208.70.
Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings data 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 return on equity of 32.49% and a net margin of 28.60%. On average, research analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.43%. Alphabet's dividend payout ratio is presently 9.94%.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on GOOG shares. Wells Fargo & Company lifted their price objective on Alphabet from $182.00 to $187.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 30th. Barclays lifted their price objective on Alphabet from $200.00 to $220.00 and gave the company an "overweight" rating in a research note on Wednesday, October 30th. Citizens Jmp lowered Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 2nd. Canaccord Genuity Group lifted their price target on Alphabet from $220.00 to $225.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Finally, Scotiabank lifted their price target on Alphabet from $212.00 to $240.00 and gave the stock a "sector outperform" rating in a research note on Friday, January 24th. Six analysts have rated the stock with a hold rating, twelve have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $209.13.
Get Our Latest Analysis on GOOG
Alphabet Profile
(
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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