Ameritas Investment Partners Inc. Has $50.11 Million Holdings in Alphabet Inc. $GOOG

Ameritas Investment Partners Inc. cut its holdings in Alphabet Inc. (NASDAQ:GOOGFree Report) by 3.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 205,767 shares of the information services provider’s stock after selling 8,073 shares during the quarter. Alphabet accounts for approximately 1.5% of Ameritas Investment Partners Inc.’s investment portfolio, making the stock its 7th largest position. Ameritas Investment Partners Inc.’s holdings in Alphabet were worth $50,114,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of Alphabet by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 416,753,033 shares of the information services provider’s stock valued at $73,927,821,000 after acquiring an additional 5,182,111 shares during the last quarter. State Street Corp raised its position in Alphabet by 1.3% during the second quarter. State Street Corp now owns 188,914,125 shares of the information services provider’s stock valued at $33,511,477,000 after purchasing an additional 2,428,266 shares during the period. Geode Capital Management LLC raised its position in Alphabet by 0.4% during the second quarter. Geode Capital Management LLC now owns 107,760,033 shares of the information services provider’s stock valued at $19,022,926,000 after purchasing an additional 441,177 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Alphabet by 8.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 99,529,742 shares of the information services provider’s stock valued at $24,240,469,000 after purchasing an additional 7,904,434 shares during the last quarter. Finally, Sanders Capital LLC boosted its holdings in shares of Alphabet by 6.4% in the 2nd quarter. Sanders Capital LLC now owns 35,357,943 shares of the information services provider’s stock worth $6,272,146,000 after purchasing an additional 2,117,990 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Trading Up 0.7%

GOOG opened at $313.03 on Thursday. 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’s fifty day moving average is $321.36 and its two-hundred day moving average is $281.87. The company has a market capitalization of $3.79 trillion, a P/E ratio of 28.96, a PEG ratio of 1.82 and a beta of 1.10. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $350.15.

Alphabet (NASDAQ:GOOGGet Free Report) last posted its quarterly earnings results on Wednesday, February 4th. The information services provider reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.59 by $0.23. The business had revenue of $113.83 billion for the quarter, compared to the consensus estimate of $111.24 billion. Alphabet had a return on equity of 35.01% and a net margin of 32.81%.The business’s revenue was up 18.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.15 EPS. Analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 9th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, March 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is 7.77%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GOOG. Sanford C. Bernstein restated a “market perform” rating and set a $345.00 price target on shares of Alphabet in a report on Thursday, February 5th. BNP Paribas Exane assumed coverage on shares of Alphabet in a research note on Monday, November 24th. They issued an “outperform” rating on the stock. HSBC restated a “buy” rating and issued a $335.00 target price on shares of Alphabet in a report on Thursday, October 30th. Truist Financial set a $350.00 price target on shares of Alphabet in a report on Friday, December 5th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $400.00 price objective on shares of Alphabet in a research note on Thursday, February 5th. Nine investment analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Alphabet currently has an average rating of “Buy” and an average price target of $343.90.

Get Our Latest Stock Report on Alphabet

Insider Buying and Selling at Alphabet

In other news, insider John Kent Walker sold 47,574 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $301.45, for a total value of $14,341,182.30. Following the completion of the sale, the insider owned 13,227 shares of the company’s stock, valued at approximately $3,987,279.15. This represents a 78.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $312.30, for a total transaction of $867,569.40. Following the transaction, the chief accounting officer owned 8,962 shares in the company, valued at approximately $2,798,832.60. This represents a 23.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 2,112,482 shares of company stock worth $119,145,289. Company insiders own 12.99% of the company’s stock.

More Alphabet News

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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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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