Charles Schwab Investment Management Inc. Grows Position in Alphabet Inc. (NASDAQ:GOOGL)

Charles Schwab Investment Management Inc. raised its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 1.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,233,079 shares of the information services provider’s stock after buying an additional 523,416 shares during the period. Alphabet comprises approximately 1.2% of Charles Schwab Investment Management Inc.’s investment portfolio, making the stock its 7th biggest holding. Charles Schwab Investment Management Inc. owned approximately 0.30% of Alphabet worth $6,175,106,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of GOOGL. Bank of New York Mellon Corp grew its position in Alphabet by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock worth $9,011,412,000 after buying an additional 238,403 shares in the last quarter. American Century Companies Inc. grew its position in Alphabet by 1.8% during the second quarter. American Century Companies Inc. now owns 23,465,190 shares of the information services provider’s stock worth $4,274,184,000 after buying an additional 418,204 shares in the last quarter. Canada Pension Plan Investment Board grew its position in Alphabet by 9.1% during the second quarter. Canada Pension Plan Investment Board now owns 23,263,385 shares of the information services provider’s stock worth $4,237,426,000 after buying an additional 1,949,476 shares in the last quarter. International Assets Investment Management LLC grew its position in Alphabet by 43,005.6% during the third quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider’s stock worth $31,086,250,000 after buying an additional 18,700,111 shares in the last quarter. Finally, Jennison Associates LLC grew its position in Alphabet by 9.9% during the third quarter. Jennison Associates LLC now owns 18,183,524 shares of the information services provider’s stock worth $3,015,737,000 after buying an additional 1,630,556 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Trading Down 1.0 %

GOOGL stock opened at $172.64 on Friday. Alphabet Inc. has a 52-week low of $129.68 and a 52-week high of $191.75. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The company’s 50-day simple moving average is $169.30 and its 200-day simple moving average is $170.31. The firm has a market cap of $2.11 trillion, a P/E ratio of 22.90, a PEG ratio of 1.21 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter in the prior year, the firm earned $1.55 EPS. As a group, equities analysts forecast that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be issued 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 0.46%. Alphabet’s payout ratio is 10.61%.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total transaction of $3,614,175.00. Following the completion of the sale, the chief executive officer now owns 2,114,885 shares in the company, valued at $339,713,977.55. This trade represents a 1.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the transaction, the director now directly owns 330,466 shares of the company’s stock, valued at $59,741,643.48. The trade was a 3.08 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 163,624 shares of company stock worth $27,803,730. Insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on GOOGL shares. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Roth Mkm raised their target price on Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Loop Capital raised their target price on Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Wedbush reaffirmed an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a report on Thursday, October 24th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $190.00 target price on shares of Alphabet in a report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $205.90.

Alphabet 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.