International Assets Investment Management LLC Takes Position in Alphabet Inc. (NASDAQ:GOOG)

International Assets Investment Management LLC purchased a new stake in shares of Alphabet Inc. (NASDAQ:GOOG) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 58,410 shares of the information services provider’s stock, valued at approximately $8,232,000.

Other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its stake in Alphabet by 11.3% during the third quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock worth $12,649,838,000 after purchasing an additional 9,703,425 shares in the last quarter. FMR LLC lifted its stake in Alphabet by 3.8% during the 3rd quarter. FMR LLC now owns 120,234,117 shares of the information services provider’s stock worth $15,852,868,000 after acquiring an additional 4,348,188 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Alphabet by 93.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 4,591,383 shares of the information services provider’s stock valued at $647,064,000 after acquiring an additional 2,222,950 shares during the period. J.P. Morgan Private Wealth Advisors LLC acquired a new position in Alphabet in the 3rd quarter valued at about $278,436,000. Finally, Northern Trust Corp increased its stake in Alphabet by 2.3% during the third quarter. Northern Trust Corp now owns 57,269,184 shares of the information services provider’s stock worth $7,550,942,000 after purchasing an additional 1,275,060 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 2,100 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $175.76, for a total value of $369,096.00. Following the completion of the sale, the director now directly owns 5,891 shares of the company’s stock, valued at $1,035,402.16. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Alphabet news, Director John L. Hennessy sold 2,100 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $175.76, for a total value of $369,096.00. Following the completion of the sale, the director now owns 5,891 shares in the company, valued at $1,035,402.16. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $166.80, for a total transaction of $3,753,000.00. Following the transaction, the chief executive officer now owns 2,280,511 shares in the company, valued at $380,389,234.80. The disclosure for this sale can be found here. Insiders have sold 275,129 shares of company stock valued at $40,382,765 in the last ninety days. Insiders own 12.99% of the company’s stock.

Alphabet Stock Up 0.5 %

Alphabet stock opened at $169.83 on Tuesday. The stock has a market cap of $2.10 trillion, a PE ratio of 26.05, a P/E/G ratio of 1.26 and a beta of 1.02. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The stock’s fifty day moving average is $152.08 and its two-hundred day moving average is $143.95. Alphabet Inc. has a 1-year low of $105.79 and a 1-year high of $176.42.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.38. The business had revenue of $80.54 billion for the quarter, compared to analyst estimates of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business’s quarterly revenue was up 15.4% on a year-over-year basis. During the same quarter last year, the company earned $1.17 EPS. On average, sell-side analysts expect that Alphabet Inc. will post 7.66 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a — dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be issued a $0.20 dividend. The ex-dividend date is Monday, June 10th.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Oppenheimer raised their price objective on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Stifel Nicolaus upped their price objective on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Susquehanna increased their price objective on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Raymond James boosted their target price on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a research report on Thursday, April 11th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Alphabet has a consensus rating of “Buy” and a consensus price target of $165.67.

Alphabet Company Profile

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.