Envestnet Asset Management Inc. Has $1.22 Billion Stake in Alphabet Inc. (NASDAQ:GOOG)

Envestnet Asset Management Inc. trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,386,262 shares of the information services provider’s stock after selling 2,612 shares during the period. Envestnet Asset Management Inc.’s holdings in Alphabet were worth $1,216,200,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Dynamic Technology Lab Private Ltd raised its position in Alphabet by 291.5% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 8,366 shares of the information services provider’s stock worth $1,593,000 after acquiring an additional 6,229 shares in the last quarter. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Alphabet during the 4th quarter worth approximately $3,538,000. Resona Asset Management Co. Ltd. acquired a new position in shares of Alphabet during the 4th quarter worth approximately $293,454,000. ROI Financial Advisors LLC acquired a new stake in Alphabet during the 4th quarter valued at $212,000. Finally, Pioneer Trust Bank N A OR increased its holdings in shares of Alphabet by 2.9% in the fourth quarter. Pioneer Trust Bank N A OR now owns 92,174 shares of the information services provider’s stock valued at $17,554,000 after purchasing an additional 2,604 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on GOOG shares. Rosenblatt Securities restated a “neutral” rating on shares of Alphabet in a research note on Wednesday, March 19th. Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Wedbush reissued an “outperform” rating and set a $220.00 price target on shares of Alphabet in a report on Thursday, January 30th. Morgan Stanley reissued an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $200.00 target price on shares of Alphabet in a research report on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $208.65.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the sale, the chief executive officer now directly owns 2,717,696 shares of the company’s stock, valued at $430,917,877.76. This trade represents a 1.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 2,834 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $194.32, for a total value of $550,702.88. Following the sale, the chief accounting officer now owns 17,847 shares in the company, valued at $3,468,029.04. The trade was a 13.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 119,797 shares of company stock worth $21,089,470 in the last quarter. 12.99% of the stock is currently owned by company insiders.

Alphabet Stock Down 3.2 %

Shares of NASDAQ GOOG opened at $147.74 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. Alphabet Inc. has a 1 year low of $147.54 and a 1 year high of $208.70. The company has a 50 day simple moving average of $177.04 and a 200 day simple moving average of $178.30. The firm has a market cap of $1.80 trillion, a PE ratio of 18.35, a price-to-earnings-growth ratio of 1.34 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.54%. Alphabet’s dividend payout ratio is currently 9.94%.

About Alphabet

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.