Assetmark Inc. Boosts Holdings in Alphabet Inc. (NASDAQ:GOOG)

Assetmark Inc. grew its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 123,088 shares of the information services provider’s stock after buying an additional 2,404 shares during the quarter. Assetmark Inc.’s holdings in Alphabet were worth $20,579,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in GOOG. Capital International Investors lifted its position in Alphabet by 9.3% in the first quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock valued at $13,355,724,000 after purchasing an additional 7,470,042 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Alphabet by 19.7% in the 1st quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock valued at $12,815,986,000 after buying an additional 13,876,534 shares during the period. Capital World Investors lifted its holdings in shares of Alphabet by 2.2% in the 1st quarter. Capital World Investors now owns 45,731,826 shares of the information services provider’s stock valued at $6,963,128,000 after buying an additional 979,083 shares during the period. Capital Research Global Investors boosted its stake in shares of Alphabet by 2.0% in the first quarter. Capital Research Global Investors now owns 35,558,778 shares of the information services provider’s stock valued at $5,414,179,000 after buying an additional 684,968 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Alphabet by 4.5% during the second quarter. Dimensional Fund Advisors LP now owns 14,657,421 shares of the information services provider’s stock worth $2,688,743,000 after acquiring an additional 636,008 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $163.03, for a total transaction of $130,424.00. Following the sale, the director now directly owns 30,024 shares in the company, valued at approximately $4,894,812.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Frances Arnold sold 441 shares of Alphabet stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $171.06, for a total transaction of $75,437.46. Following the sale, the director now directly owns 16,490 shares of the company’s stock, valued at approximately $2,820,779.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 800 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $163.03, for a total value of $130,424.00. Following the completion of the transaction, the director now directly owns 30,024 shares of the company’s stock, valued at $4,894,812.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 242,552 shares of company stock valued at $40,287,253 over the last quarter. Company insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on GOOG shares. Cantor Fitzgerald raised Alphabet to a “hold” rating in a report on Thursday, September 5th. JPMorgan Chase & Co. raised their price objective on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Pivotal Research upped their target price on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Finally, Jefferies Financial Group boosted their price target on Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $200.56.

Alphabet Price Performance

Alphabet stock opened at $179.86 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The stock has a market capitalization of $2.20 trillion, a P/E ratio of 23.85, a P/E/G ratio of 1.25 and a beta of 1.04. The firm’s 50-day moving average is $164.92 and its two-hundred day moving average is $171.12. Alphabet Inc. has a 12-month low of $129.40 and a 12-month high of $193.31.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. During the same quarter last year, the firm posted $1.55 earnings per share. Alphabet’s revenue was up 15.1% on a year-over-year basis. Equities analysts predict that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

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.