Allianz Asset Management AG increased its stake in Alphabet Inc (NASDAQ:GOOG) by 14.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 538,269 shares of the company’s stock after buying an additional 66,986 shares during the period. Alphabet makes up about 0.4% of Allianz Asset Management AG’s investment portfolio, making the stock its 15th largest position. Allianz Asset Management AG’s holdings in Alphabet were worth $415,447,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Signature Estate & Investment Advisors LLC bought a new position in shares of Alphabet during the third quarter valued at $102,000. Empirical Finance LLC bought a new position in shares of Alphabet during the fourth quarter valued at $115,000. Quantbot Technologies LP raised its position in shares of Alphabet by 64.2% in the third quarter. Quantbot Technologies LP now owns 156 shares of the company’s stock valued at $121,000 after buying an additional 61 shares during the last quarter. Trust Department MB Financial Bank N A raised its position in shares of Alphabet by 3.0% in the third quarter. Trust Department MB Financial Bank N A now owns 170 shares of the company’s stock valued at $132,000 after buying an additional 5 shares during the last quarter. Finally, Klingman & Associates LLC raised its position in shares of Alphabet by 28.7% in the third quarter. Klingman & Associates LLC now owns 184 shares of the company’s stock valued at $143,000 after buying an additional 41 shares during the last quarter. Institutional investors own 34.74% of the company’s stock.
Shares of Alphabet Inc (NASDAQ:GOOG) opened at 814.43 on Friday. The company’s 50-day moving average is $827.97 and its 200-day moving average is $795.10. The firm has a market capitalization of $563.11 billion, a price-to-earnings ratio of 29.22 and a beta of 0.94. Alphabet Inc has a 12-month low of $663.28 and a 12-month high of $853.50.
Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, January 26th. The company reported $9.36 earnings per share for the quarter, missing the consensus estimate of $9.67 by $0.31. The firm earned $26.04 billion during the quarter, compared to analysts’ expectations of $25.18 billion. Alphabet had a return on equity of 14.85% and a net margin of 21.58%. The business’s revenue was up 22.2% on a year-over-year basis. During the same period last year, the business earned $8.67 earnings per share. On average, equities analysts forecast that Alphabet Inc will post $33.34 earnings per share for the current fiscal year.
Several research analysts have weighed in on the stock. Needham & Company LLC upped their target price on shares of Alphabet from $925.00 to $935.00 and gave the stock a “buy” rating in a research report on Friday, January 27th. Vetr upgraded shares of Alphabet from a “hold” rating to a “buy” rating and set a $891.70 target price on the stock in a research report on Monday, March 20th. Susquehanna Bancshares Inc restated a “positive” rating and set a $1,000.00 target price on shares of Alphabet in a research report on Tuesday, January 31st. Royal Bank of Canada reiterated an “outperform” rating on shares of Alphabet in a research report on Monday, March 6th. Finally, Societe Generale reiterated a “buy” rating on shares of Alphabet in a research report on Thursday, February 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and forty-one have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $961.57.
In related news, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $790.38, for a total transaction of $3,161,520.00. Following the transaction, the chief executive officer now directly owns 2,791 shares of the company’s stock, valued at $2,205,950.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP David C. Drummond sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, March 13th. The shares were sold at an average price of $852.42, for a total transaction of $1,704,840.00. Following the transaction, the senior vice president now directly owns 5,800 shares in the company, valued at $4,944,036. The disclosure for this sale can be found here. Insiders have sold 448,570 shares of company stock worth $361,372,987 over the last ninety days. 13.92% of the stock is currently owned by insiders.
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc (NASDAQ:GOOG).
Receive News & Ratings for Alphabet Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet Inc and related companies with MarketBeat.com's FREE daily email newsletter.