Leibman Financial Services Inc. trimmed its stake in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 3.7% during the fourth quarter, Holdings Channel reports. The fund owned 25,442 shares of the information services provider’s stock after selling 981 shares during the quarter. Alphabet accounts for 3.5% of Leibman Financial Services Inc.’s holdings, making the stock its 5th largest position. Leibman Financial Services Inc.’s holdings in Alphabet were worth $4,845,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in GOOG. FMR LLC increased its position in Alphabet by 5.2% in the 3rd quarter. FMR LLC now owns 114,802,133 shares of the information services provider’s stock worth $19,193,768,000 after buying an additional 5,655,022 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Alphabet by 10.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider’s stock valued at $5,573,125,000 after purchasing an additional 3,113,395 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Alphabet by 65.9% during the third quarter. Assenagon Asset Management S.A. now owns 6,294,332 shares of the information services provider’s stock valued at $1,052,349,000 after purchasing an additional 2,500,621 shares during the period. Canada Pension Plan Investment Board increased its position in shares of Alphabet by 27.8% during the second quarter. Canada Pension Plan Investment Board now owns 7,499,245 shares of the information services provider’s stock valued at $1,375,512,000 after purchasing an additional 1,632,691 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Alphabet by 182.1% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,526,055 shares of the information services provider’s stock valued at $422,331,000 after purchasing an additional 1,630,701 shares during the period. 27.26% of the stock is owned by institutional investors.
Alphabet Trading Down 0.6 %
Shares of GOOG opened at $191.05 on Wednesday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12-month low of $131.55 and a 12-month high of $202.88. The firm has a market capitalization of $2.34 trillion, a PE ratio of 25.34, a price-to-earnings-growth ratio of 1.34 and a beta of 0.99. The stock’s fifty day simple moving average is $184.95 and its 200-day simple moving average is $174.55.
Alphabet Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were issued a $0.20 dividend. The ex-dividend date was Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.42%. Alphabet’s dividend payout ratio is presently 10.61%.
Analysts Set New Price Targets
A number of analysts have recently issued reports on the company. Wells Fargo & Company boosted their price objective on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Oppenheimer boosted their price target on Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. UBS Group boosted their price target on Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Pivotal Research boosted their price objective on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Canaccord Genuity Group boosted their price objective on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $200.56.
Check Out Our Latest Analysis on GOOG
Insider Activity at Alphabet
In other Alphabet news, Director Kavitark Ram Shriram sold 37,134 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total value of $6,870,532.68. Following the completion of the sale, the director now directly owns 282,832 shares in the company, valued at $52,329,576.64. This represents a 11.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 2,834 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $197.55, for a total value of $559,856.70. Following the completion of the sale, the chief accounting officer now owns 20,681 shares of the company’s stock, valued at $4,085,531.55. This trade represents a 12.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 130,553 shares of company stock worth $23,817,951. 12.99% of the stock is owned by insiders.
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.
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