Alphabet Inc. $GOOG Shares Purchased by Monetary Management Group Inc.

Monetary Management Group Inc. raised its holdings in Alphabet Inc. (NASDAQ:GOOGFree Report) by 38.5% during the third quarter, Holdings Channel.com reports. The firm owned 14,800 shares of the information services provider’s stock after purchasing an additional 4,115 shares during the period. Alphabet makes up 0.8% of Monetary Management Group Inc.’s holdings, making the stock its 23rd biggest holding. Monetary Management Group Inc.’s holdings in Alphabet were worth $3,605,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GOOG. Vanguard Group Inc. increased its holdings in Alphabet by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 416,753,033 shares of the information services provider’s stock valued at $73,927,821,000 after purchasing an additional 5,182,111 shares during the last quarter. State Street Corp lifted its stake in Alphabet by 1.3% during the 2nd quarter. State Street Corp now owns 188,914,125 shares of the information services provider’s stock worth $33,511,477,000 after acquiring an additional 2,428,266 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Alphabet by 0.4% during the 2nd quarter. Geode Capital Management LLC now owns 107,760,033 shares of the information services provider’s stock valued at $19,022,926,000 after acquiring an additional 441,177 shares during the period. JPMorgan Chase & Co. increased its stake in Alphabet by 8.6% during the third quarter. JPMorgan Chase & Co. now owns 99,529,742 shares of the information services provider’s stock worth $24,240,469,000 after purchasing an additional 7,904,434 shares during the period. Finally, Sanders Capital LLC boosted its stake in shares of Alphabet by 6.4% in the second quarter. Sanders Capital LLC now owns 35,357,943 shares of the information services provider’s stock valued at $6,272,146,000 after purchasing an additional 2,117,990 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Down 0.9%

Alphabet stock opened at $303.53 on Wednesday. The company has a market capitalization of $3.67 trillion, a P/E ratio of 28.08, a PEG ratio of 1.79 and a beta of 1.10. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.01 and a current ratio of 2.01. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $350.15. The stock has a 50-day simple moving average of $321.14 and a 200-day simple moving average of $285.34.

Alphabet (NASDAQ:GOOGGet Free Report) last released its quarterly earnings results on Wednesday, February 4th. The information services provider reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.59 by $0.23. The firm had revenue of $113.83 billion for the quarter, compared to the consensus estimate of $111.24 billion. Alphabet had a return on equity of 35.01% and a net margin of 32.81%.The firm’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.15 EPS. Equities research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 9th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, March 9th. Alphabet’s dividend payout ratio (DPR) is 7.77%.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $321.21, for a total value of $10,439,325.00. Following the transaction, the chief executive officer directly owned 2,244,372 shares in the company, valued at $720,914,730.12. This trade represents a 1.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder 2017 Gp L.L.C. Gv sold 1,845,308 shares of Alphabet stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $19.00, for a total transaction of $35,060,852.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 2,078,926 shares of company stock valued at $108,426,720. Company insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on GOOG shares. UBS Group reaffirmed a “neutral” rating and set a $348.00 price objective (up from $345.00) on shares of Alphabet in a research report on Thursday, February 12th. JPMorgan Chase & Co. upped their price target on Alphabet from $385.00 to $395.00 and gave the stock an “overweight” rating in a report on Thursday, February 5th. Guggenheim reaffirmed a “buy” rating and issued a $375.00 price target on shares of Alphabet in a research report on Monday, December 1st. TD Cowen reiterated a “buy” rating and issued a $365.00 price objective (up from $355.00) on shares of Alphabet in a research note on Thursday, February 5th. Finally, KeyCorp set a $370.00 price objective on Alphabet in a research report on Thursday, February 5th. Nine research analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $343.90.

Read Our Latest Report on GOOG

Key Stories Impacting Alphabet

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Alphabet Company Profile

(Free Report)

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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