Strategy Asset Managers LLC Buys 3,173 Shares of Alphabet Inc. (NASDAQ:GOOG)

Strategy Asset Managers LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 100.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,322 shares of the information services provider's stock after purchasing an additional 3,173 shares during the quarter. Strategy Asset Managers LLC's holdings in Alphabet were worth $1,057,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of GOOG. China Universal Asset Management Co. Ltd. boosted its position in Alphabet by 360.1% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 20,249 shares of the information services provider's stock valued at $3,083,000 after buying an additional 15,848 shares during the last quarter. Quent Capital LLC raised its position in shares of Alphabet by 5.8% during the 1st quarter. Quent Capital LLC now owns 32,706 shares of the information services provider's stock valued at $4,980,000 after acquiring an additional 1,798 shares during the last quarter. Empowered Funds LLC boosted its position in shares of Alphabet by 19.0% in the 1st quarter. Empowered Funds LLC now owns 86,040 shares of the information services provider's stock worth $13,100,000 after purchasing an additional 13,756 shares during the last quarter. Burns Matteson Capital Management LLC acquired a new stake in shares of Alphabet during the first quarter worth $203,000. Finally, CreativeOne Wealth LLC increased its holdings in Alphabet by 41.0% in the first quarter. CreativeOne Wealth LLC now owns 16,530 shares of the information services provider's stock valued at $2,516,000 after purchasing an additional 4,809 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the business's stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the sale, the director now directly owns 330,466 shares of the company's stock, valued at $59,741,643.48. The trade was a 3.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O'toole sold 2,835 shares of the company's stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the transaction, the chief accounting officer now owns 29,182 shares in the company, valued at $4,421,948.46. This represents a 8.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 184,295 shares of company stock valued at $30,698,791 in the last ninety days. 12.99% of the stock is currently owned by company insiders.

Alphabet Stock Performance

Shares of NASDAQ GOOG traded down $3.33 during mid-day trading on Wednesday, reaching $176.25. 6,387,917 shares of the company were exchanged, compared to its average volume of 19,502,002. Alphabet Inc. has a twelve month low of $129.40 and a twelve month high of $193.31. The stock has a market capitalization of $2.16 trillion, a P/E ratio of 23.45, a P/E/G ratio of 1.22 and a beta of 1.04. The company's 50-day simple moving average is $168.15 and its 200-day simple moving average is $171.87. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share 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 company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. During the same quarter last year, the firm earned $1.55 earnings per share. The company's revenue was up 15.1% on a year-over-year basis. As a group, research analysts predict that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Canaccord Genuity Group upped their target price on shares of Alphabet from $220.00 to $225.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. DA Davidson upgraded shares of Alphabet to a "hold" rating in a report on Tuesday, September 10th. UBS Group upped 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. Pivotal Research upped their price objective on Alphabet from $215.00 to $225.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. Finally, Scotiabank initiated coverage on Alphabet in a research report on Friday, October 11th. They issued a "sector outperform" rating and a $212.00 target price on the stock. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $200.56.

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.