Assetmark Inc. Boosts Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Assetmark Inc. boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,300,198 shares of the information services provider’s stock after purchasing an additional 72,172 shares during the quarter. Alphabet comprises about 1.2% of Assetmark Inc.’s investment portfolio, making the stock its 18th largest position. Assetmark Inc.’s holdings in Alphabet were worth $435,428,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Compass Planning Associates Inc bought a new position in shares of Alphabet during the 4th quarter valued at approximately $30,000. LMR Partners LLP purchased a new position in Alphabet during the third quarter worth $32,000. E Fund Management Hong Kong Co. Ltd. increased its position in Alphabet by 518.8% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after acquiring an additional 166 shares during the last quarter. Fiduciary Advisors Inc. purchased a new stake in shares of Alphabet in the fourth quarter valued at $39,000. Finally, PayPay Securities Corp lifted its holdings in shares of Alphabet by 36.1% in the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after acquiring an additional 65 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on GOOGL. JPMorgan Chase & Co. cut their price target on shares of Alphabet from $232.00 to $220.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Stifel Nicolaus increased their price target on Alphabet from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Wells Fargo & Company raised their price target on Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Needham & Company LLC reiterated a “buy” rating and issued a $225.00 target price on shares of Alphabet in a research note on Wednesday, February 5th. Finally, Wolfe Research lifted their target price on Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Ten research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $210.03.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 1,368 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total value of $262,040.40. Following the sale, the chief accounting officer now owns 20,681 shares in the company, valued at $3,961,445.55. This represents a 6.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Kent Walker sold 16,820 shares of the business’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the transaction, the insider now owns 43,981 shares of the company’s stock, valued at $8,471,620.22. This represents a 27.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 93,048 shares of company stock worth $17,374,274 over the last three months. 11.55% of the stock is currently owned by insiders.

Alphabet Stock Down 2.2 %

NASDAQ:GOOGL opened at $160.67 on Wednesday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a twelve month low of $146.08 and a twelve month high of $207.05. The company has a market cap of $1.96 trillion, a PE ratio of 19.96, a P/E/G ratio of 1.34 and a beta of 1.02. The company’s 50 day moving average is $184.35 and its two-hundred day moving average is $176.56.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date was Monday, March 10th. Alphabet’s dividend payout ratio is presently 9.94%.

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.