Amundi Has $3.41 Billion Holdings in Alphabet Inc. $GOOG

Amundi lifted its stake in Alphabet Inc. (NASDAQ:GOOG) by 5.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 18,942,588 shares of the information services provider’s stock after acquiring an additional 1,042,762 shares during the quarter. Alphabet makes up approximately 1.2% of Amundi’s investment portfolio, making the stock its 9th largest position. Amundi owned approximately 0.16% of Alphabet worth $3,405,120,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of GOOG. SCS Capital Management LLC raised its holdings in shares of Alphabet by 1.0% in the 2nd quarter. SCS Capital Management LLC now owns 65,466 shares of the information services provider’s stock valued at $11,613,000 after purchasing an additional 631 shares during the period. M Holdings Securities Inc. boosted its holdings in shares of Alphabet by 9.5% during the second quarter. M Holdings Securities Inc. now owns 40,587 shares of the information services provider’s stock worth $7,204,000 after acquiring an additional 3,505 shares during the period. GeoWealth Management LLC increased its position in Alphabet by 12.5% during the 2nd quarter. GeoWealth Management LLC now owns 23,947 shares of the information services provider’s stock worth $4,248,000 after buying an additional 2,656 shares during the period. LFL Advisers LLC lifted its holdings in shares of Alphabet by 3.2% during the second quarter. LFL Advisers LLC now owns 123,638 shares of the information services provider’s stock worth $21,932,000 after buying an additional 3,786 shares in the last quarter. Finally, Annandale Capital LLC boosted its position in shares of Alphabet by 1.3% in the second quarter. Annandale Capital LLC now owns 19,488 shares of the information services provider’s stock valued at $3,457,000 after acquiring an additional 241 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the transaction, the chief executive officer owned 2,369,619 shares of the company’s stock, valued at $592,760,192.85. The trade was a 1.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider John Kent Walker sold 17,816 shares of the stock in a transaction on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the sale, the insider directly owned 42,985 shares of the company’s stock, valued at $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 196,406 shares of company stock worth $51,743,408 over the last 90 days. 12.99% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

GOOG has been the subject of several analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a report on Wednesday, October 8th. Loop Capital raised Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 18th. Sanford C. Bernstein lifted their price target on Alphabet from $260.00 to $305.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. HSBC reissued a “buy” rating and set a $335.00 price target on shares of Alphabet in a report on Thursday, October 30th. Finally, Bank of America raised their price objective on Alphabet from $280.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Seven equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Alphabet has an average rating of “Buy” and a consensus price target of $307.22.

Alphabet Price Performance

Alphabet stock opened at $318.39 on Friday. The stock’s 50 day moving average price is $275.23 and its two-hundred day moving average price is $223.79. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $328.67. The stock has a market capitalization of $3.84 trillion, a price-to-earnings ratio of 31.40, a PEG ratio of 1.86 and a beta of 1.07. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 1.75.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, October 30th. 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 company had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. The business’s revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.12 EPS. On average, equities analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current 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 paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s payout ratio is 8.28%.

Alphabet Company 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.