Acadian Asset Management LLC Has $89.93 Million Stock Holdings in Alphabet Inc. $GOOG

Key Points

• Acadian Asset Management LLC increased its holdings in Alphabet Inc. by 31.0% in the 1st quarter, owning 575,656 shares valued at approximately $89.9 million after purchasing an additional 136,102 shares.
• Insider directors of Alphabet sold a combined total of 254,710 shares worth over $49.2 million in the past ninety days, with insiders now holding 12.99% of the company's stock.
• Alphabet has declared a quarterly dividend of $0.21 per share, payable on September 15th, which represents an annualized yield of 0.3%.

Acadian Asset Management LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 31.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 575,656 shares of the information services provider's stock after purchasing an additional 136,102 shares during the quarter. Acadian Asset Management LLC's holdings in Alphabet were worth $89,927,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in GOOG. Nuveen LLC acquired a new position in shares of Alphabet during the first quarter valued at $2,622,943,000. GAMMA Investing LLC lifted its position in Alphabet by 18,562.3% in the 1st quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider's stock valued at $2,237,733,000 after purchasing an additional 14,246,573 shares during the last quarter. Vanguard Group Inc. lifted its position in Alphabet by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider's stock valued at $64,299,725,000 after purchasing an additional 9,687,855 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Alphabet by 9.9% in the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider's stock valued at $15,971,861,000 after purchasing an additional 9,243,959 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Alphabet in the 4th quarter worth about $786,942,000. 27.26% of the stock is currently owned by institutional investors.

Alphabet Trading Up 0.2%

Shares of Alphabet stock traded up $0.60 on Friday, reaching $241.38. 14,519,054 shares of the company were exchanged, compared to its average volume of 22,624,780. The stock has a fifty day moving average price of $201.45 and a 200-day moving average price of $178.39. The firm has a market capitalization of $2.92 trillion, a price-to-earnings ratio of 25.64, a price-to-earnings-growth ratio of 1.62 and a beta of 1.01. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $242.57.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.12 by $0.19. The company had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.Alphabet's revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.89 earnings per share. On average, analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's payout ratio is 8.95%.

Insiders Place Their Bets

In related news, Director John L. Hennessy sold 1,000 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $200.00, for a total transaction of $200,000.00. Following the completion of the sale, the director directly owned 6,916 shares in the company, valued at approximately $1,383,200. This trade represents a 12.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $199.92, for a total transaction of $6,497,400.00. Following the completion of the transaction, the chief executive officer owned 2,462,392 shares in the company, valued at approximately $492,281,408.64. This represents a 1.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 254,710 shares of company stock worth $49,208,380 over the last quarter. Company insiders own 12.99% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on GOOG shares. Piper Sandler reaffirmed a "neutral" rating on shares of Alphabet in a report on Wednesday, July 9th. Raymond James Financial restated an "outperform" rating and issued a $210.00 target price (up from $185.00) on shares of Alphabet in a research report on Thursday, July 24th. The Goldman Sachs Group reiterated a "buy" rating and set a $220.00 price target on shares of Alphabet in a research report on Monday, June 2nd. UBS Group raised their price target on Alphabet from $186.00 to $192.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Alphabet from $232.00 to $260.00 and gave the stock an "overweight" rating in a report on Wednesday, September 3rd. Four analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $227.56.

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.