Alphabet Inc. (NASDAQ:GOOG) Shares Purchased by Allstate Corp

Allstate Corp grew its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 3,178.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 149,294 shares of the information services provider’s stock after acquiring an additional 144,740 shares during the period. Alphabet comprises about 0.8% of Allstate Corp’s portfolio, making the stock its 20th largest holding. Allstate Corp’s holdings in Alphabet were worth $28,432,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of GOOG. Principal Financial Group Inc. raised its holdings in shares of Alphabet by 2.5% during the third quarter. Principal Financial Group Inc. now owns 11,024,276 shares of the information services provider’s stock valued at $1,843,149,000 after acquiring an additional 264,962 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Alphabet in the third quarter valued at $1,445,000. Carl P. Sherr & Co. LLC boosted its position in shares of Alphabet by 4.2% in the third quarter. Carl P. Sherr & Co. LLC now owns 12,764 shares of the information services provider’s stock worth $2,134,000 after buying an additional 510 shares during the period. Martingale Asset Management L P purchased a new position in shares of Alphabet during the third quarter valued at $505,000. Finally, Providence Wealth Advisors LLC raised its position in Alphabet by 2.6% during the third quarter. Providence Wealth Advisors LLC now owns 10,042 shares of the information services provider’s stock valued at $1,662,000 after buying an additional 253 shares during the period. 27.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on GOOG shares. Cantor Fitzgerald restated a “neutral” rating and set a $200.00 price target on shares of Alphabet in a report on Wednesday, March 19th. Morgan Stanley reissued an “overweight” rating on shares of Alphabet in a research note on Wednesday, February 5th. Rosenblatt Securities reissued a “neutral” rating on shares of Alphabet in a research report on Wednesday, March 19th. Oppenheimer raised their price target on Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Finally, Benchmark reissued a “negative” rating on shares of Alphabet in a research note on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $208.56.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,368 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total value of $262,040.40. Following the sale, the chief accounting officer now owns 20,681 shares of the company’s stock, valued at $3,961,445.55. The trade was a 6.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John Kent Walker sold 16,820 shares of the stock in a transaction on Monday, December 30th. The shares were sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the completion of the transaction, the insider now owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. This represents a 27.66 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 104,812 shares of company stock worth $19,336,979. 12.99% of the stock is currently owned by company insiders.

Alphabet Trading Down 4.9 %

Alphabet stock opened at $156.06 on Friday. The business’s 50-day simple moving average is $181.53 and its 200-day simple moving average is $178.31. Alphabet Inc. has a 52 week low of $148.20 and a 52 week high of $208.70. The firm has a market capitalization of $1.90 trillion, a PE ratio of 19.39, a PEG ratio of 1.34 and a beta of 1.03. 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 results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Equities research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a $0.20 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.51%. Alphabet’s dividend payout ratio is 9.94%.

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.