Alberta Investment Management Corp Has $49.10 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

Alberta Investment Management Corp lifted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 138.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 257,800 shares of the information services provider’s stock after acquiring an additional 149,805 shares during the quarter. Alberta Investment Management Corp’s holdings in Alphabet were worth $49,095,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Summit Place Financial Advisors LLC acquired a new stake in shares of Alphabet during the 4th quarter valued at $205,000. Financial Consulate Inc. acquired a new position in Alphabet during the 4th quarter worth about $1,719,000. Strata Wealth Advisors LLC lifted its holdings in Alphabet by 0.3% during the 4th quarter. Strata Wealth Advisors LLC now owns 22,130 shares of the information services provider’s stock worth $4,214,000 after buying an additional 77 shares during the period. TKG Advisors LLC lifted its holdings in Alphabet by 48.6% during the 4th quarter. TKG Advisors LLC now owns 3,888 shares of the information services provider’s stock worth $785,000 after buying an additional 1,271 shares during the period. Finally, Werba Rubin Papier Wealth Management lifted its holdings in Alphabet by 66.8% during the 4th quarter. Werba Rubin Papier Wealth Management now owns 14,289 shares of the information services provider’s stock worth $2,721,000 after buying an additional 5,725 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 1,340 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the completion of the sale, the chief accounting officer now directly owns 17,848 shares of the company’s stock, valued at approximately $3,606,723.84. The trade was a 6.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $194.22, for a total value of $291,330.00. Following the sale, the director now directly owns 23,324 shares of the company’s stock, valued at $4,529,987.28. This represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 134,299 shares of company stock valued at $25,055,751. Corporate insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Needham & Company LLC reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Pivotal Research lifted their target price on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Wells Fargo & Company lifted their target price on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Finally, Citigroup lifted their price objective on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $209.13.

Alphabet Stock Performance

Shares of Alphabet stock opened at $181.58 on Friday. Alphabet Inc. has a one year low of $131.55 and a one year high of $208.70. The firm has a market capitalization of $2.21 trillion, a price-to-earnings ratio of 22.56, a PEG ratio of 1.34 and a beta of 1.00. The business has a 50-day simple moving average of $194.02 and a 200 day simple moving average of $177.34. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. On average, research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio is currently 9.94%.

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.