Asset Allocation & Management Company LLC Buys 2,842 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Asset Allocation & Management Company LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 41.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 9,622 shares of the information services provider’s stock after acquiring an additional 2,842 shares during the quarter. Alphabet comprises about 1.0% of Asset Allocation & Management Company LLC’s holdings, making the stock its 18th largest position. Asset Allocation & Management Company LLC’s holdings in Alphabet were worth $1,821,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. International Assets Investment Management LLC lifted its position in shares of Alphabet by 43,005.6% in the 3rd quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider’s stock worth $31,086,250,000 after purchasing an additional 18,700,111 shares during the period. SG Americas Securities LLC lifted its position in shares of Alphabet by 587.4% in the 3rd quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock worth $1,772,991,000 after purchasing an additional 9,135,056 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Alphabet by 116.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider’s stock worth $1,437,957,000 after purchasing an additional 4,662,809 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Alphabet by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock valued at $10,559,240,000 after acquiring an additional 4,567,275 shares during the period. Finally, Wulff Hansen & CO. lifted its position in shares of Alphabet by 18,810.2% during the 2nd quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock valued at $807,700,000 after acquiring an additional 4,410,811 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on GOOGL shares. Wolfe Research boosted their target price on shares of Alphabet from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Truist Financial boosted their price target on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Evercore ISI boosted their price target on shares of Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Robert W. Baird restated an “outperform” rating and set a $205.00 price target on shares of Alphabet in a research note on Tuesday, December 10th. Finally, Wells Fargo & Company upped their target price on shares of Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Monday. Nine equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $208.15.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,834 shares of Alphabet stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $167.23, for a total value of $473,929.82. Following the completion of the sale, the chief accounting officer now directly owns 26,349 shares in the company, valued at approximately $4,406,343.27. This trade represents a 9.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total value of $3,741,750.00. Following the completion of the sale, the chief executive officer now owns 2,106,806 shares of the company’s stock, valued at $350,361,837.80. The trade was a 1.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 154,387 shares of company stock valued at $27,748,931. 11.55% of the stock is currently owned by company insiders.

Alphabet Trading Down 1.4 %

Shares of Alphabet stock traded down $2.77 on Monday, hitting $189.27. The stock had a trading volume of 9,460,828 shares, compared to its average volume of 22,216,131. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a one year low of $130.66 and a one year high of $201.42. The stock has a market cap of $2.32 trillion, a price-to-earnings ratio of 25.10, a PEG ratio of 1.35 and a beta of 0.98. The stock’s 50-day simple moving average is $182.62 and its two-hundred day simple moving average is $172.95.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. During the same quarter last year, the firm posted $1.55 earnings per share. As a group, sell-side analysts predict that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.42%. The ex-dividend date was Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

About Alphabet

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.