Alphabet Inc. $GOOGL Position Increased by International Assets Investment Management LLC

International Assets Investment Management LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 8.9% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 65,832 shares of the information services provider’s stock after purchasing an additional 5,369 shares during the period. Alphabet comprises approximately 0.4% of International Assets Investment Management LLC’s holdings, making the stock its 15th largest position. International Assets Investment Management LLC’s holdings in Alphabet were worth $22,267,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOGL. EMC Capital Management acquired a new stake in shares of Alphabet during the 2nd quarter valued at $35,000. Core Capital Management & Research inc. purchased a new position in shares of Alphabet during the 2nd quarter valued at $41,000. Intelligent Financial Strategies purchased a new position in shares of Alphabet during the 3rd quarter valued at $41,000. Premier Financial Group purchased a new position in shares of Alphabet during the 2nd quarter valued at $45,000. Finally, Van Den Berg Management I Inc. increased its stake in shares of Alphabet by 319.6% in the first quarter. Van Den Berg Management I Inc. now owns 214 shares of the information services provider’s stock worth $61,000 after acquiring an additional 163 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet News Roundup

These are some of the GOOGL news items that stood out recently:

• Positive Sentiment: Google made a faster, lower-cost Gemini model its everyday default and opened preorders for $395 Samsung-built AI glasses, scheduled to ship December 10. The product rollout highlights Alphabet’s effort to bring its AI services to more users and devices. Read More.
• Neutral Sentiment: An investor commentary argues that Alphabet’s substantial cash generation and business strengths provide reasons not to overreact to AI-related capital spending, though the returns on that spending remain a key issue for investors. Read More.
• Negative Sentiment: Alphabet co-founder Larry Page reportedly plans to sell another $148 million in shares. Insider sales can weigh on sentiment, although a sale alone does not establish a change in the company’s outlook. Read More.

Alphabet Stock Down 1.0%

Shares of GOOGL traded down $2.93 during mid-day trading on Friday, hitting $295.77. 30,682,111 shares of the company’s stock were exchanged, compared to its average volume of 40,687,932. The firm has a fifty day moving average of $328.18 and a two-hundred day moving average of $338.01. Alphabet Inc. has a twelve month low of $270.70 and a twelve month high of $408.61. The stock has a market cap of $3.64 trillion, a price-to-earnings ratio of 15.44, a P/E/G ratio of 0.90 and a beta of 1.23. The company has a quick ratio of 2.69, a current ratio of 2.79 and a debt-to-equity ratio of 0.19.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Wednesday, October 28th. The information services provider reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates of $3.02 by ($0.90). Alphabet had a net margin of 50.03% and a return on equity of 43.33%. The business had revenue of $127.58 billion for the quarter, compared to the consensus estimate of $127.96 billion. On average, sell-side analysts forecast that Alphabet Inc. will post 19.81 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 14th. Shareholders of record on Monday, December 7th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Monday, December 7th. Alphabet’s dividend payout ratio is presently 4.59%.

Insider Buying and Selling

In other Alphabet news, Director Frances Arnold sold 83 shares of the firm’s stock in a transaction dated Wednesday, September 30th. The stock was sold at an average price of $340.45, for a total transaction of $28,257.35. Following the transaction, the director directly owned 19,076 shares in the company, valued at $6,494,424.20. This trade represents a 0.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 247 shares of company stock worth $79,238 over the last 90 days. Corporate insiders own 11.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. The Goldman Sachs Group reiterated a “buy” rating and set a $385.00 price objective on shares of Alphabet in a report on Thursday, October 29th. Piper Sandler set a $345.00 price objective on Alphabet and gave the company an “overweight” rating in a research report on Thursday, October 29th. Freedom Capital upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 23rd. Truist Financial dropped their target price on Alphabet from $420.00 to $410.00 and set a “buy” rating on the stock in a research report on Thursday, October 29th. Finally, Guggenheim reaffirmed a “buy” rating and set a $450.00 price target on shares of Alphabet in a research note on Thursday, October 29th. Five analysts have rated the stock with a Strong Buy rating, forty-five have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Alphabet has a consensus rating of “Buy” and an average price target of $412.51.

Alphabet Company Profile

Alphabet Inc. is a technology holding company whose largest business is Google. Founded in 1998 by Larry Page and Sergey Brin, Google became part of Alphabet when the company reorganized its businesses under the holding-company structure in 2015. Google’s products and services include Search, YouTube, Android, Chrome, Google Maps, Google Play and Google Cloud. The company also generates revenue from digital advertising and offers devices, subscriptions and artificial intelligence products and services.