Alphabet Inc. (NASDAQ:GOOGL) Shares Acquired by State Street Corp

State Street Corp increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 222,555,548 shares of the information services provider’s stock after purchasing an additional 743,369 shares during the period. Alphabet makes up about 1.5% of State Street Corp’s holdings, making the stock its 6th biggest position. State Street Corp owned 1.82% of Alphabet worth $36,910,838,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in GOOGL. International Assets Investment Management LLC boosted its holdings in Alphabet by 43,005.6% in the third 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 acquiring an additional 18,700,111 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Alphabet by 587.4% in the third quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock worth $1,772,991,000 after acquiring an additional 9,135,056 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Alphabet by 116.4% in the third 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 acquiring an additional 4,662,809 shares in the last quarter. Wulff Hansen & CO. boosted its holdings in Alphabet by 18,810.2% in the second quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock worth $807,700,000 after acquiring an additional 4,410,811 shares in the last quarter. Finally, PineStone Asset Management Inc. boosted its holdings in Alphabet by 143.7% in the second quarter. PineStone Asset Management Inc. now owns 7,072,197 shares of the information services provider’s stock worth $1,288,201,000 after acquiring an additional 4,170,229 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on GOOGL shares. Royal Bank of Canada raised their target price on Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Truist Financial raised their target price on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Evercore ISI raised their target price on Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. The Goldman Sachs Group restated a “buy” rating and issued a $210.00 target price on shares of Alphabet in a report on Thursday. Finally, China Renaissance upgraded Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Seven analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $206.08.

Insider Transactions at Alphabet

In related news, insider John Kent Walker sold 16,802 shares of the stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $165.47, for a total transaction of $2,780,226.94. Following the completion of the sale, the insider now directly owns 43,999 shares in the company, valued at $7,280,514.53. This represents a 27.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total value of $3,614,175.00. Following the sale, the chief executive officer now owns 2,114,885 shares of the company’s stock, valued at $339,713,977.55. This represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 198,623 shares of company stock worth $34,413,006. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $189.82 on Friday. The firm has a market capitalization of $2.32 trillion, a P/E ratio of 25.18, a P/E/G ratio of 1.39 and a beta of 1.01. 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 stock’s 50-day simple moving average is $171.63 and its two-hundred day simple moving average is $170.67. Alphabet Inc. has a twelve month low of $129.68 and a twelve month high of $195.61.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share 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 business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same period in the prior year, the company earned $1.55 EPS. As a group, equities analysts anticipate that Alphabet Inc. will post 8.01 EPS for the current fiscal 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 0.42%. The ex-dividend date is Monday, December 9th. Alphabet’s 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.