Channing Global Advisors LLC Has $5.04 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Channing Global Advisors LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,730 shares of the information services provider’s stock after acquiring an additional 255 shares during the period. Alphabet makes up about 3.9% of Channing Global Advisors LLC’s portfolio, making the stock its 6th largest holding. Channing Global Advisors LLC’s holdings in Alphabet were worth $5,035,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in GOOG. JPMorgan Chase & Co. increased its position in Alphabet by 11.3% during the 3rd 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. International Assets Investment Management LLC acquired a new position in Alphabet in the 4th quarter valued at approximately $11,600,970,000. FMR LLC increased its position in Alphabet by 3.8% in the 3rd quarter. FMR LLC now owns 120,234,117 shares of the information services provider’s stock valued at $15,852,868,000 after acquiring an additional 4,348,188 shares during the period. Cerity Partners LLC increased its position in Alphabet by 198.7% in the 4th quarter. Cerity Partners LLC now owns 3,882,882 shares of the information services provider’s stock valued at $547,215,000 after acquiring an additional 2,583,128 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in Alphabet by 93.9% in 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. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Up 9.9 %

Shares of Alphabet stock traded up $15.56 during trading hours on Friday, reaching $173.51. The company’s stock had a trading volume of 32,832,427 shares, compared to its average volume of 22,320,887. Alphabet Inc. has a one year low of $104.42 and a one year high of $176.42. The company has a market capitalization of $2.16 trillion, a P/E ratio of 29.81, a P/E/G ratio of 1.48 and a beta of 1.05. The stock’s fifty day simple moving average is $148.48 and its two-hundred day simple moving average is $142.51. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.49 by $0.40. The company had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $78.75 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The firm’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.17 earnings per share. On average, research analysts forecast that Alphabet Inc. will post 6.79 earnings per share for the current year.

Insider Activity

In other news, Director Frances Arnold sold 230 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the sale, the director now owns 15,104 shares in the company, valued at $2,326,922.24. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the transaction, the director now owns 15,104 shares in the company, valued at $2,326,922.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 660 shares of Alphabet stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of the transaction, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The disclosure for this sale can be found here. Insiders sold a total of 251,339 shares of company stock worth $36,377,482 over the last quarter. Insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Oppenheimer increased their price objective on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Stifel Nicolaus increased their price objective on shares of 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 shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. Morgan Stanley reiterated an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. Finally, Raymond James increased their target price on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $159.86.

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.