Quantbot Technologies LP Has $5.61 Million Stake in Alphabet Inc. $GOOG

Quantbot Technologies LP lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 142.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,646 shares of the information services provider’s stock after purchasing an additional 18,618 shares during the quarter. Quantbot Technologies LP’s holdings in Alphabet were worth $5,614,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Kingstone Capital Partners Texas LLC boosted its holdings in shares of Alphabet by 580,897.4% in the second quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock valued at $23,963,208,000 after buying an additional 135,064,454 shares during the period. Norges Bank acquired a new stake in shares of Alphabet during the second quarter worth $4,298,572,000. Nuveen LLC bought a new stake in Alphabet in the 1st quarter valued at $2,622,943,000. Vanguard Group Inc. lifted its position in Alphabet by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock valued at $64,299,725,000 after acquiring an additional 9,687,855 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Alphabet by 9.9% in the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock worth $15,971,861,000 after purchasing an additional 9,243,959 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GOOG has been the topic of several recent research reports. Loop Capital raised Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 18th. Citigroup reiterated a “market outperform” rating on shares of Alphabet in a report on Monday, November 24th. Cowen restated a “buy” rating on shares of Alphabet in a research note on Thursday, October 30th. Robert W. Baird upped their price target on Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. Finally, Pivotal Research lifted their price objective on shares of Alphabet from $300.00 to $350.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Seven research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $307.22.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total transaction of $694,638.90. Following the transaction, the chief accounting officer owned 14,516 shares in the company, valued at approximately $3,629,725.80. This trade represents a 16.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Kent Walker sold 17,816 shares of the stock in a transaction on Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the transaction, the insider owned 42,985 shares in the company, valued at $10,635,348.70. The trade was a 29.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 196,406 shares of company stock valued at $51,743,408 over the last ninety days. 12.99% of the stock is currently owned by company insiders.

Alphabet Trading Up 0.3%

Shares of Alphabet stock opened at $316.02 on Wednesday. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $328.67. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.06. The business’s 50 day moving average is $272.34 and its 200-day moving average is $222.44. The stock has a market cap of $3.81 trillion, a P/E ratio of 31.17, a P/E/G ratio of 1.82 and a beta of 1.07.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. The firm had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. During the same period in the prior year, the firm posted $2.12 earnings per share. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. Equities research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s payout ratio is currently 8.28%.

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.