ABN AMRO Bank N.V. Boosts Stake in Alphabet Inc. $GOOG

ABN AMRO Bank N.V. increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) by 7.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 396,420 shares of the information services provider’s stock after acquiring an additional 26,298 shares during the period. ABN AMRO Bank N.V.’s holdings in Alphabet were worth $96,233,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of GOOG. Fairman Group LLC lifted its position in shares of Alphabet by 121.3% during the 2nd quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after buying an additional 97 shares in the last quarter. University of Illinois Foundation purchased a new position in Alphabet during the second quarter valued at $31,000. Manning & Napier Advisors LLC acquired a new stake in shares of Alphabet in the third quarter valued at about $32,000. Horrell Capital Management Inc. grew its position in shares of Alphabet by 100.0% in the second quarter. Horrell Capital Management Inc. now owns 200 shares of the information services provider’s stock valued at $35,000 after purchasing an additional 100 shares during the period. Finally, LGT Financial Advisors LLC purchased a new stake in shares of Alphabet during the second quarter worth about $37,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

Insider Buying and Selling at Alphabet

In other Alphabet news, major shareholder 2017 Gp L.L.C. Gv sold 1,845,308 shares of Alphabet stock in a transaction on Friday, January 30th. The stock was sold at an average price of $19.00, for a total value of $35,060,852.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction on Tuesday, January 13th. The shares were sold at an average price of $337.52, for a total value of $202,512.00. Following the completion of the transaction, the director directly owned 21,224 shares in the company, valued at approximately $7,163,524.48. This trade represents a 2.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 2,070,464 shares of company stock worth $106,153,077. Insiders own 12.99% of the company’s stock.

Alphabet Stock Down 1.8%

Shares of GOOG opened at $318.63 on Wednesday. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $350.15. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.11. The stock has a fifty day simple moving average of $322.56 and a two-hundred day simple moving average of $273.75. The company has a market capitalization of $3.84 trillion, a PE ratio of 29.48, a price-to-earnings-growth ratio of 1.92 and a beta of 1.10.

Alphabet (NASDAQ:GOOGGet Free Report) last announced its quarterly earnings data on Wednesday, February 4th. The information services provider reported $2.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.59 by $0.23. Alphabet had a net margin of 32.81% and a return on equity of 35.01%. The firm had revenue of $113.83 billion during the quarter, compared to analyst estimates of $111.24 billion. During the same quarter in the prior year, the firm posted $2.15 earnings per share. Alphabet’s quarterly revenue was up 18.0% on a year-over-year basis. As a group, equities analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 9th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, March 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s dividend payout ratio is 7.77%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GOOG. Bank of America raised their price target on shares of Alphabet from $280.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a research note on Wednesday, January 21st. Jefferies Financial Group reiterated a “buy” rating and set a $365.00 price target on shares of Alphabet in a research report on Monday, January 5th. KeyCorp set a $370.00 price objective on Alphabet in a research note on Thursday, February 5th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $395.00 target price on shares of Alphabet in a research note on Thursday, February 5th. Seven analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $343.47.

Read Our Latest Research Report on GOOG

Alphabet Company Profile

(Free Report)

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

Featured Stories

Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGFree Report).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.