Alphabet Inc. (NASDAQ:GOOG) is Intech Investment Management LLC’s 5th Largest Position

Intech Investment Management LLC cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 7.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 760,151 shares of the information services provider’s stock after selling 61,299 shares during the period. Alphabet makes up about 4.3% of Intech Investment Management LLC’s holdings, making the stock its 5th largest holding. Intech Investment Management LLC’s holdings in Alphabet were worth $144,763,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in GOOG. Raymond James Financial Inc. purchased a new position in Alphabet in the fourth quarter worth approximately $1,551,533,000. FMR LLC grew its position in Alphabet by 5.2% in the third quarter. FMR LLC now owns 114,802,133 shares of the information services provider’s stock worth $19,193,768,000 after acquiring an additional 5,655,022 shares during the period. Proficio Capital Partners LLC grew its position in Alphabet by 5,712.8% in the fourth quarter. Proficio Capital Partners LLC now owns 4,367,831 shares of the information services provider’s stock worth $831,810,000 after acquiring an additional 4,292,689 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Alphabet by 10.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider’s stock worth $5,573,125,000 after acquiring an additional 3,113,395 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Alphabet by 182.1% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,526,055 shares of the information services provider’s stock worth $422,331,000 after buying an additional 1,630,701 shares during the period. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction of $33,106.00. Following the transaction, the director now owns 7,813 shares of the company’s stock, valued at $1,293,285.89. This trade represents a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Ruth Porat sold 17,690 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $183.48, for a total value of $3,245,761.20. Following the transaction, the insider now directly owns 1,449,286 shares in the company, valued at approximately $265,914,995.28. This represents a 1.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 93,048 shares of company stock valued at $17,374,274 over the last quarter. 12.99% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Citizens Jmp lowered Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Benchmark restated a “negative” rating on shares of Alphabet in a research report on Wednesday, February 5th. Oppenheimer raised their price target on Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Needham & Company LLC restated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $209.13.

Alphabet Stock Performance

Shares of GOOG stock opened at $166.57 on Tuesday. The stock’s 50-day moving average is $186.78 and its two-hundred day moving average is $178.12. The firm has a market cap of $2.03 trillion, a price-to-earnings ratio of 20.69, a PEG ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a 1 year low of $147.01 and a 1 year high of $208.70. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s dividend payout ratio is currently 9.94%.

About Alphabet

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.