Te Ahumairangi Investment Management Ltd Purchases 22,169 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Te Ahumairangi Investment Management Ltd boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 19.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 137,669 shares of the information services provider's stock after purchasing an additional 22,169 shares during the quarter. Alphabet comprises approximately 4.0% of Te Ahumairangi Investment Management Ltd's portfolio, making the stock its 4th biggest position. Te Ahumairangi Investment Management Ltd's holdings in Alphabet were worth $22,703,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. State Street Corp boosted its position in shares of Alphabet by 0.3% in the 3rd quarter. State Street Corp now owns 222,555,548 shares of the information services provider's stock valued at $36,910,838,000 after purchasing an additional 743,369 shares during the period. Geode Capital Management LLC lifted its stake in Alphabet by 2.0% in the third quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider's stock valued at $22,154,651,000 after buying an additional 2,626,431 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Alphabet by 2.5% in the third quarter. Fisher Asset Management LLC now owns 49,857,900 shares of the information services provider's stock valued at $8,268,933,000 after acquiring an additional 1,237,385 shares during the period. Bank of New York Mellon Corp grew its position in shares of Alphabet by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider's stock worth $9,011,412,000 after acquiring an additional 238,403 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Alphabet by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 37,233,079 shares of the information services provider's stock valued at $6,175,106,000 after acquiring an additional 523,416 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Price Performance

GOOGL stock traded up $0.11 on Thursday, reaching $188.51. The company had a trading volume of 32,167,189 shares, compared to its average volume of 27,582,375. The company's fifty day moving average is $173.46 and its 200 day moving average is $171.09. The company has a market cap of $2.31 trillion, a P/E ratio of 25.00, a PEG ratio of 1.39 and a beta of 1.01. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. Alphabet Inc. has a 1 year low of $130.66 and a 1 year high of $201.42.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating 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 business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same quarter last year, the company earned $1.55 earnings per share. On average, research analysts forecast that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet's payout ratio is 10.61%.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their price target on shares of Alphabet from $212.00 to $232.00 and gave the stock an "overweight" rating in a research note on Wednesday. DA Davidson initiated coverage on shares of Alphabet in a report on Tuesday, September 10th. They issued a "neutral" rating and a $170.00 target price for the company. Needham & Company LLC reissued a "buy" rating and set a $210.00 price target on shares of Alphabet in a report on Wednesday, October 30th. JMP Securities upped their price objective on Alphabet from $200.00 to $220.00 and gave the company a "market outperform" rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley increased their price objective on Alphabet from $190.00 to $205.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $206.69.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 700 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $165.00, for a total transaction of $115,500.00. Following the transaction, the director now directly owns 27,824 shares in the company, valued at approximately $4,590,960. This represents a 2.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O'toole sold 2,834 shares of the firm's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $197.55, for a total value of $559,856.70. Following the completion of the sale, the chief accounting officer now directly owns 20,681 shares in the company, valued at approximately $4,085,531.55. The trade was a 12.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 178,957 shares of company stock worth $31,358,687. 11.55% of the stock is owned by insiders.

About Alphabet

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.