Townsquare Capital LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 8.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 488,141 shares of the information services provider's stock after selling 45,826 shares during the period. Alphabet makes up approximately 1.0% of Townsquare Capital LLC's holdings, making the stock its 17th largest holding. Townsquare Capital LLC's holdings in Alphabet were worth $81,612,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the stock. FMR LLC increased its holdings in Alphabet by 5.2% during the 3rd quarter. FMR LLC now owns 114,802,133 shares of the information services provider's stock valued at $19,193,768,000 after purchasing an additional 5,655,022 shares during the period. Jennison Associates LLC increased its holdings in Alphabet by 9.1% during the 3rd quarter. Jennison Associates LLC now owns 15,424,324 shares of the information services provider's stock valued at $2,578,793,000 after purchasing an additional 1,291,274 shares during the period. Dimensional Fund Advisors LP increased its holdings in Alphabet by 4.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 14,657,421 shares of the information services provider's stock valued at $2,688,743,000 after purchasing an additional 636,008 shares during the period. American Century Companies Inc. increased its holdings in Alphabet by 2.3% during the 2nd quarter. American Century Companies Inc. now owns 12,327,458 shares of the information services provider's stock valued at $2,261,103,000 after purchasing an additional 282,121 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in Alphabet by 2.5% during the 3rd quarter. Principal Financial Group Inc. now owns 11,024,276 shares of the information services provider's stock valued at $1,843,149,000 after purchasing an additional 264,962 shares during the period. Hedge funds and other institutional investors own 27.26% of the company's stock.
Alphabet Stock Up 0.7 %
GOOG stock traded up $1.19 during midday trading on Wednesday, hitting $170.62. The company's stock had a trading volume of 14,937,478 shares, compared to its average volume of 21,772,436. The company has a market cap of $2.09 trillion, a PE ratio of 22.63, a P/E/G ratio of 1.18 and a beta of 1.04. Alphabet Inc. has a 12 month low of $129.40 and a 12 month high of $193.31. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm's 50-day moving average is $169.51 and its 200-day moving average is $171.86.
Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to analysts' expectations of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company's revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.55 EPS. On average, equities research analysts forecast that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.
Alphabet Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. Alphabet's payout ratio is 10.61%.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on GOOG. Pivotal Research upped their target price on Alphabet from $215.00 to $225.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Barclays upped their target price on Alphabet from $200.00 to $220.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. Phillip Securities upgraded Alphabet to a "strong-buy" rating in a report on Friday, November 1st. Canaccord Genuity Group upped their target price on Alphabet from $220.00 to $225.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Finally, Oppenheimer upped their target price on Alphabet from $185.00 to $215.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $200.56.
Check Out Our Latest Research Report on Alphabet
Insider Activity
In other news, Director Frances Arnold sold 441 shares of the company's stock in a transaction on Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the sale, the director now directly owns 16,490 shares in the company, valued at $2,820,779.40. This represents a 2.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the company's stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total value of $3,975,075.00. Following the completion of the sale, the chief executive officer now owns 2,061,806 shares of the company's stock, valued at $364,259,266.02. This trade represents a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 206,795 shares of company stock valued at $34,673,866 in the last ninety days. 12.99% of the stock is currently owned by company insiders.
Alphabet Company Profile
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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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