Voya Investment Management LLC Has $2.11 Billion Stock Holdings in Alphabet Inc. $GOOGL

Voya Investment Management LLC grew its stake in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 37.1% during the third quarter, HoldingsChannel reports. The fund owned 8,710,295 shares of the information services provider’s stock after acquiring an additional 2,355,235 shares during the quarter. Alphabet comprises about 2.1% of Voya Investment Management LLC’s holdings, making the stock its 7th largest position. Voya Investment Management LLC’s holdings in Alphabet were worth $2,113,561,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in GOOGL. Baskin Financial Services Inc. boosted its stake in Alphabet by 2.6% in the third quarter. Baskin Financial Services Inc. now owns 11,747 shares of the information services provider’s stock valued at $2,856,000 after acquiring an additional 296 shares in the last quarter. Hummer Financial Advisory Services Inc lifted its holdings in shares of Alphabet by 5.5% during the 3rd quarter. Hummer Financial Advisory Services Inc now owns 3,845 shares of the information services provider’s stock valued at $935,000 after purchasing an additional 200 shares during the last quarter. Mitchell & Pahl Private Wealth LLC acquired a new stake in shares of Alphabet in the 3rd quarter worth $242,000. Dynamic Advisor Solutions LLC grew its stake in Alphabet by 0.3% during the 3rd quarter. Dynamic Advisor Solutions LLC now owns 139,408 shares of the information services provider’s stock worth $33,890,000 after buying an additional 357 shares during the last quarter. Finally, Eclectic Associates Inc. ADV increased its position in Alphabet by 4.1% during the 3rd quarter. Eclectic Associates Inc. ADV now owns 1,858 shares of the information services provider’s stock valued at $452,000 after buying an additional 74 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Alphabet Stock Performance

GOOGL opened at $309.78 on Tuesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.75. The firm has a fifty day moving average price of $290.50 and a 200 day moving average price of $235.73. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $328.83. The stock has a market cap of $3.74 trillion, a P/E ratio of 30.55, a P/E/G ratio of 1.77 and a beta of 1.07.

Alphabet (NASDAQ:GOOGLGet Free Report) last released its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating the consensus estimate of $2.29 by $0.58. The company had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. Equities research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 8th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio is presently 8.28%.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $283.48, for a total value of $9,213,100.00. Following the sale, the chief executive officer directly owned 2,337,119 shares of the company’s stock, valued at approximately $662,526,494.12. This trade represents a 1.37% 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 hyperlink. Also, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction that occurred 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 directly owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 226,128 shares of company stock valued at $63,183,331. 11.55% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

GOOGL has been the subject of several research analyst reports. Jefferies Financial Group increased their price objective on shares of Alphabet from $285.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Loop Capital raised Alphabet from a “hold” rating to a “buy” rating and upped their target price for the company from $260.00 to $320.00 in a research report on Tuesday, November 18th. HSBC lifted their price target on Alphabet from $335.00 to $370.00 and gave the stock a “buy” rating in a research report on Tuesday, December 2nd. Truist Financial set a $350.00 price objective on Alphabet and gave the company a “buy” rating in a report on Friday, December 5th. Finally, Robert W. Baird raised their price objective on Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. Four analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $315.90.

Check Out Our Latest Analysis on GOOGL

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Alphabet Company Profile

(Free Report)

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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