Alphabet Inc. $GOOG Stock Position Lifted by Alliancebernstein L.P.

Alliancebernstein L.P. lifted its stake in Alphabet Inc. (NASDAQ:GOOGFree Report) by 5.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 40,032,291 shares of the information services provider’s stock after purchasing an additional 2,209,203 shares during the period. Alphabet accounts for about 3.1% of Alliancebernstein L.P.’s investment portfolio, making the stock its 5th biggest holding. Alliancebernstein L.P. owned about 0.33% of Alphabet worth $9,749,864,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently modified their holdings of GOOG. Imprint Wealth LLC bought a new position in Alphabet in the third quarter worth about $31,000. Manning & Napier Advisors LLC bought a new stake in Alphabet during the 3rd quarter valued at approximately $32,000. Tripletail Wealth Management LLC bought a new stake in Alphabet during the 3rd quarter valued at approximately $40,000. University of Illinois Foundation purchased a new position in shares of Alphabet during the 2nd quarter worth approximately $31,000. Finally, Retirement Wealth Solutions LLC raised its position in shares of Alphabet by 145.0% in the 3rd quarter. Retirement Wealth Solutions LLC now owns 196 shares of the information services provider’s stock worth $48,000 after acquiring an additional 116 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on GOOG. Guggenheim restated a “buy” rating and issued a $375.00 target price on shares of Alphabet in a research note on Monday, December 1st. BMO Capital Markets reiterated an “outperform” rating and issued a $400.00 price objective on shares of Alphabet in a report on Thursday, February 5th. Needham & Company LLC set a $400.00 price objective on Alphabet and gave the company a “buy” rating in a research report on Friday. KeyCorp set a $370.00 target price on shares of Alphabet in a report on Thursday, February 5th. Finally, Scotiabank reaffirmed an “outperform” rating and issued a $400.00 target price (up from $375.00) on shares of Alphabet in a research report on Thursday, February 5th. Nine research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $345.71.

Check Out Our Latest Report on GOOG

Alphabet Stock Performance

GOOG stock opened at $301.46 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.01 and a quick ratio of 2.01. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $350.15. The company has a market cap of $3.65 trillion, a P/E ratio of 27.89, a price-to-earnings-growth ratio of 1.76 and a beta of 1.10. The stock’s fifty day moving average price is $319.36 and its 200-day moving average price is $290.32.

Alphabet (NASDAQ:GOOGGet Free Report) last posted its quarterly earnings data on Thursday, February 5th. The information services provider reported $2.82 EPS for the quarter, beating analysts’ consensus estimates of $2.59 by $0.23. The company had revenue of $113.83 billion during the quarter, compared to analysts’ expectations of $111.24 billion. Alphabet had a return on equity of 35.01% and a net margin of 32.81%.Alphabet’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.15 earnings per share. On average, equities analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently disclosed 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. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, March 9th. Alphabet’s dividend payout ratio is 7.77%.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $321.21, for a total value of $10,439,325.00. Following the transaction, the chief executive officer owned 2,244,372 shares of the company’s stock, valued at approximately $720,914,730.12. This trade represents a 1.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder 2017 Gp L.L.C. Gv sold 1,845,308 shares of the business’s stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $19.00, for a total transaction of $35,060,852.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 2,112,493 shares of company stock worth $118,605,094 over the last quarter. Company insiders own 12.99% of the company’s stock.

About Alphabet

(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.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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