Alphabet Inc. $GOOG Shares Acquired by Panagora Asset Management Inc.

Panagora Asset Management Inc. increased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,371,336 shares of the information services provider’s stock after purchasing an additional 42,086 shares during the quarter. Alphabet accounts for approximately 1.1% of Panagora Asset Management Inc.’s investment portfolio, making the stock its 13th largest holding. Panagora Asset Management Inc.’s holdings in Alphabet were worth $243,261,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. IFS Advisors LLC increased its stake in shares of Alphabet by 400.0% in the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after acquiring an additional 120 shares during the period. Robbins Farley lifted its position in Alphabet by 60.0% during the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after purchasing an additional 60 shares during the period. WestEnd Advisors LLC boosted its holdings in Alphabet by 58.7% in the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after purchasing an additional 61 shares during the last quarter. University of Illinois Foundation acquired a new stake in Alphabet during the 2nd quarter worth about $31,000. Finally, Fairman Group LLC grew its position in Alphabet by 121.3% during the 2nd quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock worth $31,000 after purchasing an additional 97 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total value of $694,638.90. Following the transaction, the chief accounting officer owned 14,516 shares in the company, valued at $3,629,725.80. This trade represents a 16.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total value of $8,129,875.00. Following the sale, the chief executive officer owned 2,369,619 shares of the company’s stock, valued at $592,760,192.85. The trade was a 1.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 227,850 shares of company stock valued at $58,874,814. 12.99% of the stock is owned by corporate insiders.

Alphabet Stock Down 0.1%

Alphabet stock opened at $319.95 on Monday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The stock has a market capitalization of $3.86 trillion, a PE ratio of 31.55, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. The business has a 50 day simple moving average of $269.82 and a 200-day simple moving average of $220.34. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $328.67.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, October 30th. The information services provider reported $2.87 EPS for the quarter, topping the consensus estimate of $2.29 by $0.58. The company had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The firm’s revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.12 EPS. On average, analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s dividend payout ratio is 8.28%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on GOOG shares. Cantor Fitzgerald set a $310.00 target price on Alphabet and gave the stock a “neutral” rating in a research note on Thursday, October 30th. Morgan Stanley boosted their price target on Alphabet from $210.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, October 2nd. Rosenblatt Securities set a $279.00 price objective on Alphabet in a research report on Thursday, October 30th. Citigroup reaffirmed a “market outperform” rating on shares of Alphabet in a research note on Monday, November 24th. Finally, KeyCorp reiterated an “overweight” rating and issued a $330.00 target price on shares of Alphabet in a research note on Thursday, October 30th. Seven equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Alphabet has a consensus rating of “Buy” and an average price target of $304.62.

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.