Assetmark Inc. Buys 7,383 Shares of Alphabet Inc. (NASDAQ:GOOG)

Assetmark Inc. grew its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 145,834 shares of the information services provider’s stock after acquiring an additional 7,383 shares during the quarter. Assetmark Inc.’s holdings in Alphabet were worth $20,552,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Alphabet in the 4th quarter valued at $4,101,040,000. JPMorgan Chase & Co. grew its position in Alphabet by 11.3% in the third 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. International Assets Investment Management LLC acquired a new position in Alphabet during the fourth quarter worth about $11,600,970,000. FMR LLC lifted its holdings in shares of Alphabet by 3.8% in the third quarter. FMR LLC now owns 120,234,117 shares of the information services provider’s stock worth $15,852,868,000 after acquiring an additional 4,348,188 shares during the last quarter. Finally, Cerity Partners LLC boosted its stake in shares of 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 purchasing an additional 2,583,128 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the transaction, the chief executive officer now owns 2,332,691 shares of the company’s stock, valued at approximately $309,548,095.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the completion of the sale, the chief executive officer now directly owns 2,332,691 shares of the company’s stock, valued at $309,548,095.70. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John L. Hennessy sold 2,100 shares of the company’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $175.76, for a total value of $369,096.00. Following the sale, the director now owns 5,891 shares of the company’s stock, valued at approximately $1,035,402.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 205,935 shares of company stock worth $31,178,987. 12.99% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

Alphabet Trading Down 1.4 %

GOOG traded down $2.47 during trading on Wednesday, reaching $177.07. 3,644,750 shares of the stock traded hands, compared to its average volume of 21,965,230. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The stock’s 50-day moving average is $160.23 and its 200 day moving average is $147.39. Alphabet Inc. has a 12 month low of $115.83 and a 12 month high of $179.95. The stock has a market capitalization of $2.19 trillion, a PE ratio of 27.54, a P/E/G ratio of 1.32 and a beta of 1.02.

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 $1.51 by $0.38. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The company had revenue of $80.54 billion for the quarter, compared to analyst estimates of $78.75 billion. During the same quarter in the prior year, the company earned $1.17 EPS. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. Equities analysts anticipate that Alphabet Inc. will post 7.7 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently announced a — dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 10th.

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.