Alphabet Inc. (NASDAQ:GOOG) is Fmr LLC’s 9th Largest Position

Fmr LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 114,802,133 shares of the information services provider’s stock after purchasing an additional 5,655,022 shares during the period. Alphabet makes up about 1.2% of Fmr LLC’s portfolio, making the stock its 9th biggest position. Fmr LLC owned approximately 0.94% of Alphabet worth $19,193,768,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in GOOG. Abich Financial Wealth Management LLC increased its holdings in Alphabet by 9,200.0% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after buying an additional 184 shares during the period. 1620 Investment Advisors Inc. acquired a new stake in shares of Alphabet in the second quarter worth $37,000. HWG Holdings LP purchased a new position in shares of Alphabet during the second quarter worth $40,000. Slocum Gordon & Co LLP acquired a new position in Alphabet during the second quarter valued at $44,000. Finally, Sanctuary Wealth Management L.L.C. boosted its holdings in Alphabet by 87.3% in the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after purchasing an additional 117 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Activity at Alphabet

In other Alphabet news, insider John Kent Walker sold 21,467 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total value of $3,442,233.45. Following the transaction, the insider now owns 39,334 shares of the company’s stock, valued at $6,307,206.90. This represents a 35.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the sale, the director now owns 330,466 shares of the company’s stock, valued at approximately $59,741,643.48. This represents a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 206,795 shares of company stock worth $34,673,866. Insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

GOOG has been the subject of several recent research reports. Pivotal Research lifted their price target on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group boosted their target price 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. UBS Group raised their price target on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Jefferies Financial Group upped their price objective on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. raised their target price on Alphabet from $208.00 to $212.00 and gave the company an “overweight” 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $200.56.

Alphabet Stock Up 1.7 %

Shares of NASDAQ:GOOG opened at $169.43 on Tuesday. Alphabet Inc. has a 52-week low of $129.40 and a 52-week high of $193.31. The stock 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. The business has a fifty day moving average of $169.30 and a two-hundred day moving average of $171.85. 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 (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. During the same quarter in the prior year, the firm posted $1.55 earnings per share. Alphabet’s quarterly revenue was up 15.1% on a year-over-year basis. On average, research analysts expect that Alphabet Inc. will post 8.02 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s payout ratio is presently 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.