ABN Amro Investment Solutions Purchases New Position in Alphabet Inc. $GOOGL

ABN Amro Investment Solutions acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 944,569 shares of the information services provider’s stock, valued at approximately $166,461,000. Alphabet accounts for about 3.3% of ABN Amro Investment Solutions’ holdings, making the stock its 4th biggest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Bridgeway Capital Management LLC increased its holdings in shares of Alphabet by 17.9% in the 1st quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock valued at $13,637,000 after acquiring an additional 13,371 shares during the last quarter. Alaethes Wealth LLC boosted its holdings in Alphabet by 1.1% in the first quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock valued at $1,182,000 after purchasing an additional 84 shares in the last quarter. Moment Partners LLC increased its stake in Alphabet by 9.3% in the second quarter. Moment Partners LLC now owns 5,896 shares of the information services provider’s stock valued at $1,039,000 after purchasing an additional 504 shares during the last quarter. Welch Group LLC raised its holdings in Alphabet by 4.0% during the second quarter. Welch Group LLC now owns 64,262 shares of the information services provider’s stock worth $11,325,000 after purchasing an additional 2,467 shares in the last quarter. Finally, Elgethun Capital Management lifted its position in shares of Alphabet by 4.8% during the 1st quarter. Elgethun Capital Management now owns 8,487 shares of the information services provider’s stock worth $1,312,000 after buying an additional 390 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insiders Place Their Bets

In related news, Director John L. Hennessy sold 600 shares of the stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $280.06, for a total transaction of $168,036.00. Following the completion of the sale, the director owned 4,516 shares of the company’s stock, valued at approximately $1,264,750.96. This represents a 11.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The shares were 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 $3,383,884.14. The trade was a 19.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 225,174 shares of company stock worth $58,095,223 over the last 90 days. Corporate insiders own 11.64% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Wolfe Research reissued an “outperform” rating and issued a $350.00 target price (up from $290.00) on shares of Alphabet in a report on Thursday, October 30th. BNP Paribas Exane initiated coverage on shares of Alphabet in a report on Monday. They issued an “outperform” rating and a $355.00 target price on the stock. Citic Securities increased their price target on shares of Alphabet from $230.00 to $310.00 and gave the stock a “buy” rating in a research note on Monday, November 3rd. Sanford C. Bernstein lifted their price objective on shares of Alphabet from $260.00 to $305.00 and gave the company a “market perform” rating in a research note on Thursday, October 30th. Finally, KeyCorp reaffirmed an “overweight” rating and issued a $300.00 target price (up from $265.00) on shares of Alphabet in a report on Monday, October 27th. Four equities research analysts have rated the stock with a Strong Buy rating, forty-one have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $307.84.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $323.44 on Wednesday. The business’s fifty day moving average price is $265.17 and its two-hundred day moving average price is $216.20. The stock has a market cap of $3.90 trillion, a PE ratio of 31.90, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a one year low of $140.53 and a one year high of $328.83.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.58. The business had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. On average, analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

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 issued a $0.21 dividend. The ex-dividend date is Monday, December 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s payout ratio is 8.28%.

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.