Alphabet Inc. $GOOG Shares Purchased by Alliance Wealth Management Group

Alliance Wealth Management Group boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) by 57.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,019 shares of the information services provider’s stock after acquiring an additional 2,185 shares during the period. Alliance Wealth Management Group’s holdings in Alphabet were worth $1,466,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of GOOG. Norges Bank purchased a new position in Alphabet during the second quarter worth about $4,298,572,000. Vanguard Group Inc. increased its holdings in shares of Alphabet by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 416,753,033 shares of the information services provider’s stock worth $73,927,821,000 after buying an additional 5,182,111 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Alphabet by 73.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 9,808,152 shares of the information services provider’s stock valued at $2,388,775,000 after buying an additional 4,154,929 shares during the period. Laurel Wealth Advisors LLC raised its position in shares of Alphabet by 17,547.9% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 4,122,727 shares of the information services provider’s stock valued at $731,331,000 after buying an additional 4,099,366 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Alphabet by 330.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 3,989,463 shares of the information services provider’s stock valued at $707,691,000 after acquiring an additional 3,062,590 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider John Kent Walker sold 17,829 shares of Alphabet stock in a transaction on Tuesday, December 30th. The stock was sold at an average price of $314.89, for a total value of $5,614,173.81. Following the completion of the transaction, the insider directly owned 42,972 shares in the company, valued at approximately $13,531,453.08. This trade represents a 29.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $288.26, for a total value of $800,786.28. Following the transaction, the chief accounting officer directly owned 11,739 shares of the company’s stock, valued at $3,383,884.14. The trade was a 19.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 192,687 shares of company stock worth $58,728,068 over the last 90 days. Corporate insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Bank of America upped their price target on Alphabet from $280.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Barclays boosted their price objective on shares of Alphabet from $250.00 to $315.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Truist Financial set a $350.00 target price on shares of Alphabet in a research report on Friday, December 5th. Citigroup reaffirmed a “market outperform” rating on shares of Alphabet in a research note on Wednesday, December 17th. Finally, KeyCorp reissued an “overweight” rating and issued a $330.00 price target on shares of Alphabet in a research note on Thursday, October 30th. Eight equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Alphabet currently has a consensus rating of “Buy” and a consensus price target of $326.13.

Read Our Latest Report on Alphabet

Alphabet Stock Up 0.7%

Shares of NASDAQ:GOOG opened at $330.84 on Friday. The firm has a market capitalization of $3.99 trillion, a PE ratio of 32.63, a price-to-earnings-growth ratio of 1.81 and a beta of 1.09. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $341.20. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.75. The firm’s 50-day moving average is $315.30 and its two-hundred day moving average is $259.15.

Alphabet (NASDAQ:GOOGGet Free Report) last posted its quarterly earnings data on Thursday, October 30th. The information services provider reported $2.87 EPS for the quarter, beating the consensus estimate of $2.29 by $0.58. The business had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter last year, the firm posted $2.12 earnings per share. Analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 8th were paid a $0.21 dividend. The ex-dividend date was Monday, December 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s payout ratio is 8.28%.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

Alphabet 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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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