Acadian Asset Management LLC Has $1.10 Billion Stock Holdings in Alphabet Inc. $GOOGL

Acadian Asset Management LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 13.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,227,020 shares of the information services provider’s stock after buying an additional 757,549 shares during the period. Alphabet comprises about 2.3% of Acadian Asset Management LLC’s holdings, making the stock its 5th biggest position. Acadian Asset Management LLC owned about 0.05% of Alphabet worth $1,097,351,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOOGL. Guardian Wealth Management Inc. raised its holdings in shares of Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after purchasing an additional 119 shares during the period. IMA Advisory Services Inc. bought a new position in Alphabet during the first quarter valued at $28,000. NBZ Investment Advisors LLC increased its position in Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after buying an additional 90 shares during the last quarter. CarsonAllaria Wealth Management Ltd. raised its stake in shares of Alphabet by 36.4% in the second quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock valued at $44,000 after buying an additional 67 shares during the period. Finally, MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of Alphabet during the 1st quarter valued at $50,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In other news, Director Frances Arnold sold 112 shares of the company’s stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $291.80, for a total value of $32,681.60. Following the completion of the sale, the director owned 18,004 shares of the company’s stock, valued at approximately $5,253,567.20. This represents a 0.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction on Monday, November 17th. The stock was sold at an average price of $288.26, for a total transaction of $800,786.28. Following the completion of the transaction, the chief accounting officer owned 11,739 shares in the company, valued at approximately $3,383,884.14. The trade was a 19.14% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 225,174 shares of company stock valued at $58,095,223. Insiders own 11.64% of the company’s stock.

Alphabet Stock Up 3.5%

GOOGL opened at $299.66 on Friday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The business’s fifty day simple moving average is $262.39 and its 200 day simple moving average is $213.06. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $306.42. The stock has a market cap of $3.62 trillion, a PE ratio of 29.55, a P/E/G ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. The firm had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%. As a group, research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GOOGL. Moffett Nathanson lifted their price objective on Alphabet from $295.00 to $305.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Piper Sandler reiterated an “overweight” rating and set a $330.00 target price (up previously from $285.00) on shares of Alphabet in a research report on Thursday, October 30th. Bank of America boosted their price target on shares of Alphabet from $280.00 to $335.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Robert W. Baird upped their price target on shares of Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a research note on Monday, September 22nd. Finally, Melius Research lifted their price objective on shares of Alphabet from $220.00 to $255.00 in a research note on Thursday, September 25th. Four analysts have rated the stock with a Strong Buy rating, thirty-eight have issued a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $305.33.

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.