Veritable L.P. raised its stake in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 1,712.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 269,512 shares of the information services provider’s stock after acquiring an additional 254,643 shares during the quarter. Alphabet makes up approximately 0.5% of Veritable L.P.’s investment portfolio, making the stock its 23rd largest position. Veritable L.P.’s holdings in Alphabet were worth $25,914,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of the stock. Polen Capital Management LLC raised its stake in shares of Alphabet by 1,896.1% during the 3rd quarter. Polen Capital Management LLC now owns 28,471,359 shares of the information services provider’s stock worth $2,737,521,000 after buying an additional 27,045,038 shares during the period. Jennison Associates LLC increased its position in shares of Alphabet by 1,736.4% during the third quarter. Jennison Associates LLC now owns 23,253,198 shares of the information services provider’s stock worth $2,235,795,000 after purchasing an additional 21,986,989 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Alphabet by 1,872.0% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 18,292,839 shares of the information services provider’s stock worth $1,758,856,000 after purchasing an additional 17,365,189 shares in the last quarter. TD Asset Management Inc. grew its holdings in Alphabet by 1,863.4% in the 3rd quarter. TD Asset Management Inc. now owns 16,524,239 shares of the information services provider’s stock valued at $1,620,863,000 after buying an additional 15,682,616 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Alphabet by 1,966.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 14,818,151 shares of the information services provider’s stock valued at $1,424,954,000 after buying an additional 14,101,177 shares in the last quarter. 28.69% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In related news, CAO Amie Thuener O’toole sold 855 shares of the stock in a transaction that occurred on Thursday, December 1st. The stock was sold at an average price of $101.13, for a total transaction of $86,466.15. Following the completion of the transaction, the chief accounting officer now directly owns 24,908 shares of the company’s stock, valued at $2,518,946.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Ann Mather sold 380 shares of the firm’s stock in a transaction on Tuesday, December 27th. The stock was sold at an average price of $89.24, for a total transaction of $33,911.20. Following the sale, the director now owns 11,300 shares of the company’s stock, valued at approximately $1,008,412. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 855 shares of Alphabet stock in a transaction dated Thursday, December 1st. The stock was sold at an average price of $101.13, for a total value of $86,466.15. Following the completion of the transaction, the chief accounting officer now directly owns 24,908 shares of the company’s stock, valued at $2,518,946.04. The disclosure for this sale can be found here. Insiders sold 36,963 shares of company stock worth $3,453,119 over the last ninety days. 12.99% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
Alphabet Stock Performance
GOOG opened at $90.30 on Wednesday. The stock has a market cap of $1.16 trillion, a PE ratio of 19.84, a P/E/G ratio of 1.23 and a beta of 1.08. The company has a current ratio of 2.38, a quick ratio of 2.34 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a 1 year low of $83.45 and a 1 year high of $144.16. The stock’s 50 day simple moving average is $94.12 and its 200-day simple moving average is $98.59.
Alphabet (NASDAQ:GOOG – Get Rating) last posted its quarterly earnings data on Thursday, February 2nd. The information services provider reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). The business had revenue of $76.05 billion during the quarter, compared to analyst estimates of $76.49 billion. Alphabet had a return on equity of 23.54% and a net margin of 21.20%. Alphabet’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.53 EPS. Sell-side analysts forecast that Alphabet Inc. will post 5.12 EPS for the current year.
Alphabet Company Profile
Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.
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