Seelaus Asset Management LLC Grows Stake in Alphabet Inc. (NASDAQ:GOOG)

Seelaus Asset Management LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 48.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,194 shares of the information services provider’s stock after purchasing an additional 3,000 shares during the period. Alphabet accounts for about 1.4% of Seelaus Asset Management LLC’s portfolio, making the stock its 13th biggest position. Seelaus Asset Management LLC’s holdings in Alphabet were worth $1,537,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Swedbank AB bought a new stake in shares of Alphabet during the 1st quarter worth approximately $1,378,708,000. Capital International Investors increased its stake in Alphabet by 9.3% in the first quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock worth $13,355,724,000 after purchasing an additional 7,470,042 shares during the period. Assenagon Asset Management S.A. lifted its position 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 during the last quarter. Vima LLC boosted its stake in shares of Alphabet by 178,253.1% during the first quarter. Vima LLC now owns 2,001,122 shares of the information services provider’s stock valued at $304,691,000 after purchasing an additional 2,000,000 shares during the period. Finally, Granite Bay Wealth Management LLC grew its holdings in shares of 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 worth $301,312,000 after purchasing an additional 1,742,794 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on GOOG shares. Citigroup upped their target price on shares of Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Pivotal Research increased their price target on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group raised their price target on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, DA Davidson raised shares of Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $200.56.

Alphabet Stock Performance

Shares of Alphabet stock opened at $173.89 on Friday. The firm has a market capitalization of $2.13 trillion, a P/E ratio of 23.06, a PEG ratio of 1.27 and a beta of 1.04. Alphabet Inc. has a 52 week low of $129.40 and a 52 week high of $193.31. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The company has a 50 day moving average price of $167.01 and a 200 day moving average price of $171.65.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. During the same period in the previous year, the firm posted $1.55 earnings per share. The business’s revenue for the quarter was up 15.1% compared to the same quarter last year. Sell-side analysts expect that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio is presently 10.61%.

Insider Buying and Selling

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $177.41, for a total transaction of $1,862,805.00. Following the completion of the transaction, the director now directly owns 319,966 shares of the company’s stock, valued at approximately $56,765,168.06. This trade represents a 3.18 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $177.36, for a total transaction of $3,990,600.00. Following the completion of the sale, the chief executive officer now directly owns 2,084,306 shares in the company, valued at $369,672,512.16. This trade represents a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 206,795 shares of company stock valued at $34,471,141 over the last quarter. 12.99% of the stock is currently owned by company insiders.

Alphabet 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.