Intech Investment Management LLC Purchases 172,077 Shares of Alphabet Inc. (NASDAQ:GOOG)

Intech Investment Management LLC raised its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 26.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 821,450 shares of the information services provider's stock after purchasing an additional 172,077 shares during the quarter. Alphabet accounts for 1.5% of Intech Investment Management LLC's investment portfolio, making the stock its 8th biggest holding. Intech Investment Management LLC's holdings in Alphabet were worth $137,338,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Twelve Points Wealth Management LLC increased its position in shares of Alphabet by 0.7% in the 2nd quarter. Twelve Points Wealth Management LLC now owns 7,985 shares of the information services provider's stock valued at $1,465,000 after buying an additional 55 shares in the last quarter. PCG Wealth Advisors LLC grew its holdings in shares of Alphabet by 3.1% in the 2nd quarter. PCG Wealth Advisors LLC now owns 1,880 shares of the information services provider's stock valued at $345,000 after acquiring an additional 57 shares in the last quarter. Investment Advisory Services Inc. TX ADV grew its holdings in shares of Alphabet by 1.6% in the 2nd quarter. Investment Advisory Services Inc. TX ADV now owns 3,636 shares of the information services provider's stock valued at $667,000 after acquiring an additional 57 shares in the last quarter. Advisors Management Group Inc. ADV lifted its stake in Alphabet by 2.0% in the 2nd quarter. Advisors Management Group Inc. ADV now owns 2,944 shares of the information services provider's stock valued at $540,000 after purchasing an additional 58 shares during the last quarter. Finally, Shira Ridge Wealth Management lifted its stake in Alphabet by 0.4% in the 2nd quarter. Shira Ridge Wealth Management now owns 15,490 shares of the information services provider's stock valued at $2,841,000 after purchasing an additional 60 shares during the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Barclays raised their price objective on shares of Alphabet from $200.00 to $220.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 30th. Oppenheimer lifted their price objective on shares of Alphabet from $185.00 to $215.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. UBS Group boosted their target price on shares of Alphabet from $187.00 to $192.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. Wells Fargo & Company boosted their target price on shares of Alphabet from $182.00 to $187.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 30th. Finally, Citigroup lifted their price target on shares of Alphabet from $212.00 to $216.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, Alphabet has an average rating of "Moderate Buy" and a consensus price target of $200.56.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 21,467 shares of the 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 sale, the insider now directly owns 39,334 shares in the company, valued at $6,307,206.90. This represents a 35.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the completion of the sale, the director now owns 330,466 shares in the company, valued at $59,741,643.48. This represents a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 184,295 shares of company stock worth $30,698,791 over the last three months. 12.99% of the stock is currently owned by insiders.

Alphabet Trading Down 1.3 %

NASDAQ:GOOG opened at $177.33 on Thursday. 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 firm has a 50-day moving average of $168.65 and a 200-day moving average of $171.91. The company has a market cap of $2.17 trillion, a PE ratio of 23.52, a PEG ratio of 1.26 and a beta of 1.04. Alphabet Inc. has a one year low of $129.40 and a one 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm's quarterly revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.55 EPS. As a group, equities research analysts expect that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet's payout ratio is 10.61%.

Alphabet Company 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.

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