Independent Advisor Alliance Raises Stake in Alphabet Inc. (NASDAQ:GOOG)

Independent Advisor Alliance increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) by 4.4% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 247,193 shares of the information services provider’s stock after purchasing an additional 10,501 shares during the period. Alphabet accounts for 1.3% of Independent Advisor Alliance’s investment portfolio, making the stock its 14th largest position. Independent Advisor Alliance’s holdings in Alphabet were worth $34,837,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. FMR LLC boosted its position in shares of Alphabet by 3.8% during 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 last quarter. JPMorgan Chase & Co. boosted its position in shares of Alphabet by 11.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock valued at $12,649,838,000 after acquiring an additional 9,703,425 shares during the last quarter. Northern Trust Corp lifted its position in Alphabet by 2.3% in the 3rd quarter. Northern Trust Corp now owns 57,269,184 shares of the information services provider’s stock worth $7,550,942,000 after buying an additional 1,275,060 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Alphabet by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 28,800,413 shares of the information services provider’s stock worth $4,058,842,000 after buying an additional 481,376 shares during the last quarter. Finally, Sanders Capital LLC lifted its position in Alphabet by 0.3% in the 3rd quarter. Sanders Capital LLC now owns 27,744,572 shares of the information services provider’s stock worth $3,658,122,000 after buying an additional 92,741 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on GOOG. Stifel Nicolaus lifted their price target on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Oppenheimer lifted their price target on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Susquehanna lifted their price target on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research note on Wednesday, January 31st. Morgan Stanley reissued an “overweight” rating and set a $165.00 target price on shares of Alphabet in a research note on Thursday, April 11th. Finally, Raymond James boosted their target price on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, Alphabet currently has an average rating of “Buy” and an average price target of $165.67.

Read Our Latest Stock Analysis on Alphabet

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $173.22, for a total transaction of $3,897,450.00. Following the completion of the transaction, the chief executive officer now directly owns 2,258,011 shares of the company’s stock, valued at $391,132,665.42. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $136.49, for a total value of $93,086.18. Following the completion of the sale, the chief accounting officer now directly owns 28,602 shares of the company’s stock, valued at approximately $3,903,886.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $173.22, for a total value of $3,897,450.00. Following the completion of the sale, the chief executive officer now directly owns 2,258,011 shares of the company’s stock, valued at $391,132,665.42. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 276,511 shares of company stock worth $41,234,695. 12.99% of the stock is owned by corporate insiders.

Alphabet Stock Performance

Alphabet stock traded up $1.86 during mid-day trading on Friday, reaching $177.29. 16,546,353 shares of the stock traded hands, compared to its average volume of 22,773,608. The stock has a market capitalization of $2.19 trillion, a PE ratio of 27.19, a price-to-earnings-growth ratio of 1.32 and a beta of 1.02. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. Alphabet Inc. has a 12-month low of $115.83 and a 12-month high of $177.49. The business’s 50-day moving average is $158.64 and its 200-day moving average is $146.56.

Alphabet (NASDAQ:GOOGGet Free Report) last issued its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.38. The business had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business’s quarterly revenue was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.17 earnings per share. As a group, sell-side analysts predict that Alphabet Inc. will post 7.7 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a — dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 10th. Alphabet’s dividend payout ratio is currently 12.27%.

Alphabet Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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