Impax Asset Management Group plc Has $7.39 Million Stock Position in Alphabet Inc. $GOOG

Impax Asset Management Group plc raised its position in Alphabet Inc. (NASDAQ:GOOG) by 25.1% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 41,637 shares of the information services provider’s stock after acquiring an additional 8,346 shares during the period. Impax Asset Management Group plc’s holdings in Alphabet were worth $7,386,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. REDW Wealth LLC raised its holdings in Alphabet by 2.3% during the second quarter. REDW Wealth LLC now owns 2,410 shares of the information services provider’s stock worth $428,000 after buying an additional 54 shares during the last quarter. ACT Advisors LLC. increased its position in shares of Alphabet by 3.5% during the second quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider’s stock worth $288,000 after acquiring an additional 55 shares in the last quarter. Moser Wealth Advisors LLC raised its holdings in shares of Alphabet by 2.2% in the 2nd quarter. Moser Wealth Advisors LLC now owns 2,545 shares of the information services provider’s stock worth $451,000 after acquiring an additional 55 shares during the last quarter. LongView Wealth Management lifted its position in Alphabet by 1.1% in the 2nd quarter. LongView Wealth Management now owns 5,126 shares of the information services provider’s stock valued at $909,000 after acquiring an additional 56 shares in the last quarter. Finally, Kooman & Associates boosted its stake in Alphabet by 1.4% during the 2nd quarter. Kooman & Associates now owns 4,127 shares of the information services provider’s stock valued at $732,000 after purchasing an additional 56 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GOOG. Weiss Ratings reissued a “buy (b)” rating on shares of Alphabet in a research note on Wednesday, October 8th. Raymond James Financial set a $275.00 price target on Alphabet and gave the company an “outperform” rating in a research report on Friday, October 24th. Barclays raised their price objective on Alphabet from $250.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Wolfe Research upped their target price on shares of Alphabet from $290.00 to $350.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Finally, KeyCorp reissued an “overweight” rating and set a $330.00 price target on shares of Alphabet in a research report on Thursday, October 30th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, four have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $324.81.

Insider Activity

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the sale, the chief executive officer owned 2,369,619 shares of the company’s stock, valued at approximately $592,760,192.85. This represents a 1.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the transaction, the insider owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. This represents a 29.30% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 221,796 shares of company stock worth $53,983,001. 12.99% of the stock is owned by corporate insiders.

Alphabet Price Performance

GOOG opened at $279.12 on Friday. The firm has a 50-day moving average price of $257.00 and a 200-day moving average price of $208.69. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $292.36. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $3.37 trillion, a price-to-earnings ratio of 27.53, a PEG ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data 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. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The company had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. During the same period last year, the firm earned $2.12 EPS. Alphabet’s revenue for the quarter was up 15.9% on a year-over-year basis. Equities analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

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

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.