Alphabet Inc. (NASDAQ:GOOG) Shares Bought by Fmr LLC

Fmr LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.2% during the 3rd quarter, Holdings Channel reports. The firm owned 114,802,133 shares of the information services provider’s stock after buying an additional 5,655,022 shares during the period. Alphabet makes up about 1.2% of Fmr LLC’s holdings, making the stock its 9th biggest position. Fmr LLC’s holdings in Alphabet were worth $19,193,768,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in GOOG. Swedbank AB purchased a new position in Alphabet in the first quarter worth approximately $1,378,708,000. Assenagon Asset Management S.A. grew its stake in shares of Alphabet by 65.9% during the third quarter. Assenagon Asset Management S.A. now owns 6,294,332 shares of the information services provider’s stock worth $1,052,349,000 after purchasing an additional 2,500,621 shares in the last quarter. Vima LLC increased its holdings in Alphabet by 178,253.1% in the first quarter. Vima LLC now owns 2,001,122 shares of the information services provider’s stock valued at $304,691,000 after buying an additional 2,000,000 shares during the last quarter. Granite Bay Wealth Management LLC raised its stake in Alphabet by 6,610.0% in the second quarter. Granite Bay Wealth Management LLC now owns 1,769,160 shares of the information services provider’s stock valued at $301,312,000 after buying an additional 1,742,794 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in Alphabet by 27.8% in the second quarter. Canada Pension Plan Investment Board now owns 7,499,245 shares of the information services provider’s stock valued at $1,375,512,000 after buying an additional 1,632,691 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Trading Up 1.7 %

NASDAQ:GOOG opened at $169.43 on Tuesday. Alphabet Inc. has a 12-month low of $129.40 and a 12-month high of $193.31. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock’s 50 day simple moving average is $169.30 and its 200-day simple moving average is $171.85. The firm has a market cap of $2.07 trillion, a P/E ratio of 22.47, a PEG ratio of 1.16 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data 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 net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. During the same quarter in the prior year, the firm earned $1.55 EPS. Alphabet’s quarterly revenue was up 15.1% on a year-over-year basis. Equities analysts anticipate that Alphabet Inc. will post 8.02 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. Alphabet’s payout ratio is currently 10.61%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GOOG. UBS Group increased their price objective on Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Pivotal Research increased their price target on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Oppenheimer boosted their price objective on shares of Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. Finally, Citigroup boosted their price target on shares of Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $200.56.

Insider Buying and Selling at Alphabet

In related news, Director Frances Arnold sold 441 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the sale, the director now owns 16,490 shares in the company, valued at $2,820,779.40. This trade represents a 2.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John Kent Walker sold 21,467 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the transaction, the insider now owns 39,334 shares in the company, valued at $6,307,206.90. The trade was a 35.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 206,795 shares of company stock valued at $34,673,866. 12.99% of the stock is owned by corporate insiders.

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.