Alphabet Inc. $GOOG Shares Bought by Clough Capital Partners L P

Clough Capital Partners L P boosted its position in Alphabet Inc. (NASDAQ:GOOGFree Report) by 12.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 173,016 shares of the information services provider’s stock after buying an additional 18,605 shares during the period. Alphabet accounts for approximately 3.7% of Clough Capital Partners L P’s holdings, making the stock its 4th biggest holding. Clough Capital Partners L P’s holdings in Alphabet were worth $42,138,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of GOOG. Vanguard Group Inc. lifted its stake in Alphabet by 1.3% during the second quarter. Vanguard Group Inc. now owns 416,753,033 shares of the information services provider’s stock worth $73,927,821,000 after purchasing an additional 5,182,111 shares during the last quarter. State Street Corp raised its holdings in shares of Alphabet by 1.3% during the second quarter. State Street Corp now owns 188,914,125 shares of the information services provider’s stock worth $33,511,477,000 after purchasing an additional 2,428,266 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Alphabet by 8.6% during the third quarter. JPMorgan Chase & Co. now owns 99,529,742 shares of the information services provider’s stock worth $24,240,469,000 after purchasing an additional 7,904,434 shares during the period. Alliancebernstein L.P. lifted its position in shares of Alphabet by 5.8% in the 3rd quarter. Alliancebernstein L.P. now owns 40,032,291 shares of the information services provider’s stock worth $9,749,864,000 after buying an additional 2,209,203 shares during the last quarter. Finally, Sanders Capital LLC boosted its holdings in shares of Alphabet by 6.4% in the 2nd quarter. Sanders Capital LLC now owns 35,357,943 shares of the information services provider’s stock valued at $6,272,146,000 after buying an additional 2,117,990 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $303.38, for a total value of $9,859,850.00. Following the completion of the sale, the chief executive officer directly owned 1,674,560 shares in the company, valued at $508,028,012.80. This represents a 1.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John Kent Walker sold 47,574 shares of the stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $301.45, for a total value of $14,341,182.30. Following the transaction, the insider directly owned 13,227 shares of the company’s stock, valued at approximately $3,987,279.15. The trade was a 78.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 2,076,615 shares of company stock valued at $107,809,111 over the last 90 days. Corporate insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of GOOG opened at $301.46 on Monday. Alphabet Inc. has a one year low of $142.66 and a one year high of $350.15. The stock’s fifty day moving average is $319.36 and its 200-day moving average is $290.90. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.01 and a current ratio of 2.01. The firm has a market capitalization of $3.65 trillion, a price-to-earnings ratio of 27.89, a price-to-earnings-growth ratio of 1.76 and a beta of 1.10.

Alphabet (NASDAQ:GOOGGet Free Report) last announced its earnings results on Thursday, February 5th. The information services provider reported $2.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.59 by $0.23. Alphabet had a net margin of 32.81% and a return on equity of 35.01%. The firm had revenue of $113.83 billion during the quarter, compared to analyst estimates of $111.24 billion. During the same quarter in the prior year, the firm posted $2.15 EPS. Alphabet’s revenue was up 18.0% compared to the same quarter last year. Equities analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 9th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Monday, March 9th. Alphabet’s dividend payout ratio (DPR) is currently 7.77%.

Analyst Upgrades and Downgrades

GOOG has been the topic of several research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a research note on Wednesday, January 21st. Truist Financial set a $350.00 price target on Alphabet in a report on Friday, December 5th. Raymond James Financial upgraded Alphabet from an “outperform” rating to a “strong-buy” rating and upped their price objective for the stock from $315.00 to $400.00 in a research note on Thursday, January 22nd. Pivotal Research reiterated a “buy” rating and issued a $420.00 target price (up from $400.00) on shares of Alphabet in a research note on Thursday, February 5th. Finally, Oppenheimer restated an “outperform” rating and set a $360.00 price target on shares of Alphabet in a research report on Thursday, February 5th. Nine analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $345.71.

Get Our Latest Analysis on GOOG

Key Stories Impacting Alphabet

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About Alphabet

(Free Report)

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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