Alphabet Inc. (NASDAQ:GOOGL) Stock Position Increased by Associated Banc Corp

Associated Banc Corp lifted its position in Alphabet Inc. (NASDAQ:GOOGL) by 1.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 760,124 shares of the information services provider’s stock after purchasing an additional 12,497 shares during the quarter. Alphabet comprises 3.7% of Associated Banc Corp’s holdings, making the stock its 3rd largest position. Associated Banc Corp’s holdings in Alphabet were worth $126,067,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of GOOGL. International Assets Investment Management LLC raised its holdings in shares of 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 purchasing an additional 18,700,111 shares during the last quarter. SG Americas Securities LLC grew its position in Alphabet by 587.4% during the 3rd quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock worth $1,772,991,000 after purchasing an additional 9,135,056 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Alphabet by 116.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider’s stock valued at $1,437,957,000 after buying an additional 4,662,809 shares during the last quarter. Wulff Hansen & CO. lifted its holdings in shares of Alphabet by 18,810.2% in the 2nd quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock valued at $807,700,000 after buying an additional 4,410,811 shares during the period. Finally, PineStone Asset Management Inc. boosted its stake in shares of Alphabet by 143.7% in the second quarter. PineStone Asset Management Inc. now owns 7,072,197 shares of the information services provider’s stock worth $1,288,201,000 after buying an additional 4,170,229 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Trading Up 1.2 %

Shares of GOOGL opened at $174.71 on Monday. Alphabet Inc. has a 12-month low of $129.68 and a 12-month high of $191.75. The firm has a market capitalization of $2.14 trillion, a P/E ratio of 23.17, a P/E/G ratio of 1.24 and a beta of 1.01. The firm has a 50-day moving average price of $169.51 and a 200 day moving average price of $170.20. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations 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 company posted $1.55 EPS. Sell-side analysts forecast that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 annualized dividend and a yield of 0.46%. Alphabet’s payout ratio is 10.61%.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 800 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $153.75, for a total value of $123,000.00. Following the transaction, the director now owns 28,524 shares of the company’s stock, valued at $4,385,565. This represents a 2.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $170.41, for a total transaction of $232,950.47. Following the sale, the chief accounting officer now owns 23,515 shares of the company’s stock, valued at approximately $4,007,191.15. This represents a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 163,624 shares of company stock valued at $27,803,730 over the last quarter. 11.55% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on GOOGL. Wedbush reiterated an “outperform” rating and set a $205.00 price target on shares of Alphabet in a research report on Thursday, October 24th. Scotiabank raised shares of Alphabet to a “strong-buy” rating in a report on Friday, October 11th. Cantor Fitzgerald reissued a “neutral” rating and set a $190.00 price target on shares of Alphabet in a report on Wednesday, October 30th. Truist Financial raised their price target on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $217.00 price objective (up previously from $215.00) on shares of Alphabet in a research report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $205.90.

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.