Alphabet Inc. $GOOG Shares Bought by Ameriprise Financial Inc.

Ameriprise Financial Inc. lifted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,844,796 shares of the information services provider’s stock after purchasing an additional 81,474 shares during the quarter. Alphabet accounts for approximately 0.6% of Ameriprise Financial Inc.’s portfolio, making the stock its 17th largest holding. Ameriprise Financial Inc. owned 0.11% of Alphabet worth $2,455,937,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. RDA Financial Network lifted its holdings in Alphabet by 5.3% during the second quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock valued at $1,968,000 after purchasing an additional 554 shares in the last quarter. Bleakley Financial Group LLC increased its stake 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 purchasing an additional 2,304 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Alphabet by 3.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,164,341 shares of the information services provider’s stock worth $206,542,000 after purchasing an additional 42,028 shares during the last quarter. Oldfather Financial Services LLC purchased a new position in Alphabet in the 2nd quarter valued at about $213,000. Finally, Tower View Wealth Management LLC lifted its stake in Alphabet by 6.9% in the 2nd quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock valued at $4,904,000 after buying an additional 1,776 shares in the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In related news, Director Frances Arnold sold 102 shares of the firm’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $317.66, for a total transaction of $32,401.32. Following the transaction, the director owned 18,104 shares of the company’s stock, valued at $5,750,916.64. This trade represents a 0.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $280.06, for a total value of $168,036.00. Following the completion of the transaction, the director owned 4,516 shares in the company, valued at $1,264,750.96. This trade represents a 11.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 228,906 shares of company stock valued at $62,127,158 over the last ninety days. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Trading Down 1.0%

NASDAQ GOOG opened at $310.52 on Friday. The firm has a 50 day moving average of $283.75 and a two-hundred day moving average of $229.94. The stock has a market capitalization of $3.75 trillion, a PE ratio of 30.62, a price-to-earnings-growth ratio of 1.82 and a beta of 1.07. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $328.67. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.06.

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 analysts’ consensus estimates of $2.29 by $0.58. The firm had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a return on equity of 35.00% and a net margin of 32.23%.The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the company posted $2.12 earnings per share. As a group, research analysts expect that Alphabet Inc. will post 8.89 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. Investors of record on Monday, December 8th will be paid a dividend of $0.21 per share. The ex-dividend date is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio is currently 8.28%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on GOOG shares. JPMorgan Chase & Co. boosted their price objective on Alphabet from $260.00 to $300.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. Pivotal Research reiterated a “buy” rating and set a $400.00 price target (up previously from $350.00) on shares of Alphabet in a report on Friday, December 5th. Barclays raised their price objective on Alphabet from $250.00 to $315.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Piper Sandler increased their target price on shares of Alphabet from $285.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Finally, HSBC reissued a “buy” rating and set a $335.00 price target on shares of Alphabet in a research report on Thursday, October 30th. Seven equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $313.04.

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.