Alphabet Inc. (NASDAQ:GOOG) is Heritage Investors Management Corp’s 7th Largest Position

Heritage Investors Management Corp reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 400,651 shares of the information services provider’s stock after selling 4,045 shares during the quarter. Alphabet accounts for 2.2% of Heritage Investors Management Corp’s holdings, making the stock its 7th largest position. Heritage Investors Management Corp’s holdings in Alphabet were worth $66,985,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its holdings in Alphabet by 19.7% in the first quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock valued at $12,815,986,000 after purchasing an additional 13,876,534 shares during the period. Swedbank AB acquired a new stake in Alphabet in the first quarter valued at approximately $1,378,708,000. Capital International Investors grew its holdings in Alphabet by 9.3% in the first quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock valued at $13,355,724,000 after purchasing an additional 7,470,042 shares during the period. Assenagon Asset Management S.A. grew its holdings in Alphabet by 65.9% in 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. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Alphabet by 51.8% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,416,150 shares of the information services provider’s stock valued at $976,923,000 after purchasing an additional 2,190,795 shares during the period. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Frances Arnold sold 441 shares of Alphabet stock in a transaction on Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the sale, the director now owns 16,490 shares in the company, valued at $2,820,779.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total value of $1,898,190.00. Following the sale, the director now owns 330,466 shares in the company, valued at approximately $59,741,643.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frances Arnold sold 441 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the sale, the director now owns 16,490 shares in the company, valued at $2,820,779.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 209,552 shares of company stock worth $34,433,848 over the last quarter. 12.99% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Phillip Securities raised Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Barclays lifted their price target on Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Scotiabank assumed coverage on Alphabet in a research note on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price target on the stock. Jefferies Financial Group lifted their price target on Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. lifted their price target on Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $200.56.

Alphabet Stock Performance

Shares of Alphabet stock opened at $171.41 on Wednesday. Alphabet Inc. has a one year low of $129.40 and a one year high of $193.31. The company has a market cap of $2.11 trillion, a price-to-earnings ratio of 22.73, a PEG ratio of 1.22 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The business’s 50 day moving average price is $163.97 and its 200 day moving average price is $170.83.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. During the same quarter in the previous year, the business earned $1.55 earnings per share. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. On average, research analysts predict that Alphabet Inc. will post 7.97 EPS for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. Alphabet’s dividend payout ratio is currently 10.61%.

Alphabet Company Profile

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.