Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH reduced its holdings in Alphabet Inc. (NASDAQ:GOOG) by 17.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 330,479 shares of the information services provider’s stock after selling 71,348 shares during the period. Alphabet comprises 0.7% of Allianz Asset Management GmbH’s holdings, making the stock its 19th largest position. Allianz Asset Management GmbH’s holdings in Alphabet were worth $880,830,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of GOOG. Freestone Capital Holdings LLC boosted its stake in shares of Alphabet by 3.6% in the second quarter. Freestone Capital Holdings LLC now owns 3,027 shares of the information services provider’s stock worth $7,587,000 after acquiring an additional 105 shares during the last quarter. ERTS Wealth Advisors LLC boosted its stake in shares of Alphabet by 502.2% in the third quarter. ERTS Wealth Advisors LLC now owns 548 shares of the information services provider’s stock worth $1,478,000 after acquiring an additional 457 shares during the last quarter. Ameritas Investment Company LLC boosted its stake in shares of Alphabet by 5.7% in the second quarter. Ameritas Investment Company LLC now owns 1,382 shares of the information services provider’s stock worth $4,654,000 after acquiring an additional 74 shares during the last quarter. YorkBridge Wealth Partners LLC boosted its stake in shares of Alphabet by 4.2% in the third quarter. YorkBridge Wealth Partners LLC now owns 4,187 shares of the information services provider’s stock worth $11,160,000 after acquiring an additional 170 shares during the last quarter. Finally, GQG Partners LLC boosted its stake in shares of Alphabet by 64.8% in the second quarter. GQG Partners LLC now owns 1,123,034 shares of the information services provider’s stock worth $2,813,907,000 after acquiring an additional 441,546 shares during the last quarter. 30.66% of the stock is currently owned by institutional investors.

A number of brokerages recently commented on GOOG. Zacks Investment Research downgraded Alphabet from a “buy” rating to a “hold” rating in a research report on Monday, January 3rd. Piper Sandler lifted their price objective on Alphabet from $3,034.00 to $3,150.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 27th. UBS Group began coverage on Alphabet in a research report on Friday, December 3rd. They set a “buy” rating and a $3,925.00 price objective on the stock. Raymond James lifted their price objective on Alphabet from $3,200.00 to $3,400.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 27th. They noted that the move was a valuation call. Finally, Oppenheimer increased their price target on Alphabet from $3,000.00 to $3,500.00 and gave the stock an “outperform” rating in a report on Wednesday, October 27th. Three research analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet presently has an average rating of “Buy” and an average price target of $3,210.45.

In related news, major shareholder Capitalg 2014 Lp sold 44,100 shares of Alphabet stock in a transaction on Tuesday, November 16th. The shares were sold at an average price of $39.14, for a total transaction of $1,726,074.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 48 shares of Alphabet stock in a transaction dated Tuesday, November 2nd. The stock was sold at an average price of $2,896.12, for a total value of $139,013.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 198,473 shares of company stock valued at $436,640,791. Corporate insiders own 12.99% of the company’s stock.

Shares of GOOG traded up $12.03 during mid-day trading on Friday, hitting $2,794.65. 26,633 shares of the company’s stock were exchanged, compared to its average volume of 1,123,908. The company has a current ratio of 2.98, a quick ratio of 2.96 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $1.85 trillion, a P/E ratio of 26.49, a P/E/G ratio of 0.97 and a beta of 1.06. Alphabet Inc. has a fifty-two week low of $1,721.55 and a fifty-two week high of $3,037.00. The business’s 50 day moving average is $2,908.10 and its two-hundred day moving average is $2,816.68.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Monday, October 25th. The information services provider reported $27.99 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $23.13 by $4.86. Alphabet had a net margin of 29.52% and a return on equity of 30.22%. The company had revenue of $65.12 billion during the quarter, compared to analysts’ expectations of $63.35 billion. During the same period last year, the company posted $16.40 earnings per share. The firm’s quarterly revenue was up 41.0% compared to the same quarter last year. On average, equities research analysts forecast that Alphabet Inc. will post 108.29 earnings per share for the current year.

About Alphabet

Alphabet, Inc is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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