Alphabet Inc. $GOOG Shares Acquired by Cantor Fitzgerald L. P.

Cantor Fitzgerald L. P. increased its position in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) by 23.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,597 shares of the information services provider’s stock after purchasing an additional 17,283 shares during the period. Alphabet accounts for about 0.2% of Cantor Fitzgerald L. P.’s investment portfolio, making the stock its 21st largest holding. Cantor Fitzgerald L. P.’s holdings in Alphabet were worth $22,308,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. University of Illinois Foundation bought a new stake in shares of Alphabet in the 2nd quarter worth $31,000. Imprint Wealth LLC bought a new position in Alphabet during the third quarter valued at about $31,000. Manning & Napier Advisors LLC bought a new position in Alphabet during the third quarter valued at about $32,000. Tripletail Wealth Management LLC acquired a new position in Alphabet during the third quarter worth about $40,000. Finally, Retirement Wealth Solutions LLC grew its holdings in Alphabet by 145.0% during the third quarter. Retirement Wealth Solutions LLC now owns 196 shares of the information services provider’s stock worth $48,000 after acquiring an additional 116 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Pivotal Research reissued a “buy” rating and issued a $420.00 price target (up from $400.00) on shares of Alphabet in a report on Thursday, February 5th. Guggenheim reaffirmed a “buy” rating and issued a $375.00 price objective on shares of Alphabet in a research note on Monday, December 1st. Sanford C. Bernstein reiterated a “market perform” rating and issued a $345.00 target price on shares of Alphabet in a report on Thursday, February 5th. UBS Group reissued a “neutral” rating and set a $348.00 target price (up from $345.00) on shares of Alphabet in a research note on Thursday, February 12th. Finally, Needham & Company LLC set a $400.00 target price on shares of Alphabet and gave the stock a “buy” rating in a report on Friday. Nine investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Alphabet currently has an average rating of “Buy” and an average target price of $345.71.

Check Out Our Latest Research Report on GOOG

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Frances Arnold sold 112 shares of Alphabet stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $302.99, for a total transaction of $33,934.88. Following the transaction, the director directly owned 18,418 shares in the company, valued at approximately $5,580,469.82. The trade was a 0.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, March 4th. The shares were 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 owned 1,674,560 shares of the company’s stock, valued at $508,028,012.80. The trade was a 1.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 2,112,493 shares of company stock valued at $118,605,094 over the last three months. 12.99% of the stock is owned by insiders.

Alphabet Trading Down 0.6%

NASDAQ:GOOG opened at $301.46 on Friday. The stock has a fifty day simple moving average of $319.36 and a 200 day simple moving average of $290.32. 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 Inc. has a 1-year low of $142.66 and a 1-year high of $350.15. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.11.

Alphabet (NASDAQ:GOOGGet Free Report) last posted its quarterly earnings data on Thursday, February 5th. The information services provider reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.23. Alphabet had a return on equity of 35.01% and a net margin of 32.81%.The firm had revenue of $113.83 billion for the quarter, compared to the consensus estimate of $111.24 billion. During the same quarter in the previous year, the company earned $2.15 EPS. The business’s revenue for the quarter was up 18.0% compared to the same quarter last year. Sell-side analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

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

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

Alphabet Company Profile

(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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