ABN AMRO Bank N.V. Purchases Shares of 370,122 Alphabet Inc. $GOOG

ABN AMRO Bank N.V. acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOG) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 370,122 shares of the information services provider’s stock, valued at approximately $66,040,000. Alphabet accounts for 0.9% of ABN AMRO Bank N.V.’s portfolio, making the stock its 29th biggest position.

Other institutional investors and hedge funds also recently made changes to their positions in the company. RDA Financial Network lifted its holdings in Alphabet by 5.3% during the 2nd quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock worth $1,968,000 after buying an additional 554 shares in the last quarter. Bleakley Financial Group LLC raised its position in shares of Alphabet by 1.4% during the second quarter. Bleakley Financial Group LLC now owns 170,020 shares of the information services provider’s stock worth $30,160,000 after acquiring an additional 2,304 shares during the last quarter. Oldfather Financial Services LLC acquired a new position in shares of Alphabet during the second quarter valued at $213,000. Tower View Wealth Management LLC boosted its holdings in Alphabet by 6.9% in the second quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock valued at $4,904,000 after acquiring an additional 1,776 shares during the last quarter. Finally, Dock Street Asset Management Inc. boosted its holdings in Alphabet by 0.8% in the second quarter. Dock Street Asset Management Inc. now owns 234,306 shares of the information services provider’s stock valued at $41,563,000 after acquiring an additional 1,970 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analysts Set New Price Targets

GOOG has been the topic of a number of research reports. TD Cowen upped their target price on shares of Alphabet from $270.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. JPMorgan Chase & Co. boosted their price target on shares of Alphabet from $260.00 to $300.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a research note on Wednesday, October 8th. HSBC reaffirmed a “buy” rating and set a $335.00 target price on shares of Alphabet in a report on Thursday, October 30th. Finally, Pivotal Research increased their price target on Alphabet from $300.00 to $350.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Seven research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $324.81.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $283.48, for a total value of $9,213,100.00. Following the completion of the transaction, the chief executive officer directly owned 2,337,119 shares in the company, valued at approximately $662,526,494.12. The trade was a 1.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $288.26, for a total value of $800,786.28. Following the sale, the chief accounting officer directly owned 11,739 shares of the company’s stock, valued at approximately $3,383,884.14. The trade was a 19.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 195,452 shares of company stock valued at $49,255,209 over the last ninety days. 12.99% of the stock is owned by insiders.

Alphabet Stock Down 1.0%

Shares of NASDAQ:GOOG opened at $289.98 on Friday. The company has a 50 day moving average price of $261.82 and a two-hundred day moving average price of $212.97. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The company has a market capitalization of $3.50 trillion, a PE ratio of 28.60, a PEG ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $306.89.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The company had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. During the same quarter in the previous year, the business earned $2.12 EPS. The firm’s revenue was up 15.9% on a year-over-year basis. Analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s payout ratio is presently 8.28%.

Alphabet 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.