Asset Allocation & Management Company LLC Increases Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Asset Allocation & Management Company LLC raised its position in Alphabet Inc. (NASDAQ:GOOGL) by 41.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,622 shares of the information services provider’s stock after buying an additional 2,842 shares during the period. Alphabet makes up about 1.0% of Asset Allocation & Management Company LLC’s holdings, making the stock its 18th biggest holding. Asset Allocation & Management Company LLC’s holdings in Alphabet were worth $1,821,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. LMR Partners LLP acquired a new stake in Alphabet during the third quarter worth about $32,000. Denver PWM LLC acquired a new stake in Alphabet during the second quarter worth about $41,000. Quarry LP acquired a new stake in Alphabet during the second quarter worth about $53,000. Teachers Insurance & Annuity Association of America acquired a new stake in Alphabet during the third quarter worth about $66,000. Finally, Mendota Financial Group LLC raised its stake in Alphabet by 19.0% during the third quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock worth $67,000 after acquiring an additional 64 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Price Performance

Shares of GOOGL stock traded down $2.77 during trading hours on Monday, reaching $189.27. 9,460,828 shares of the company were exchanged, compared to its average volume of 22,216,131. Alphabet Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $201.42. The stock’s fifty day moving average is $182.62 and its two-hundred day moving average is $172.95. The company has a market cap of $2.32 trillion, a price-to-earnings ratio of 25.10, a P/E/G ratio of 1.35 and a beta of 0.98. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same period in the prior year, the business posted $1.55 earnings per share. Sell-side analysts forecast that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. The ex-dividend date was Monday, December 9th. Alphabet’s dividend payout ratio is 10.61%.

Insider Activity at Alphabet

In other Alphabet news, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $192.62, for a total value of $3,239,868.40. Following the completion of the sale, the insider now owns 43,981 shares in the company, valued at $8,471,620.22. The trade was a 27.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 2,834 shares of Alphabet stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $197.55, for a total transaction of $559,856.70. Following the completion of the sale, the chief accounting officer now owns 20,681 shares of the company’s stock, valued at $4,085,531.55. This trade represents a 12.05 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 154,387 shares of company stock valued at $27,748,931. Corporate insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the topic of several analyst reports. Pivotal Research raised their price target on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. JMP Securities restated a “market perform” rating on shares of Alphabet in a research note on Friday. Sanford C. Bernstein raised their price target on shares of Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Truist Financial increased their price objective on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Stifel Nicolaus raised their target price on shares of Alphabet from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday. Nine investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $208.15.

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.