Allstate Corp Has $32.94 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Allstate Corp increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3,224.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 173,988 shares of the information services provider’s stock after acquiring an additional 168,754 shares during the period. Alphabet comprises about 1.0% of Allstate Corp’s portfolio, making the stock its 16th largest position. Allstate Corp’s holdings in Alphabet were worth $32,936,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the stock. Compass Planning Associates Inc acquired a new position in shares of Alphabet during the 4th quarter worth about $30,000. 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 worth $37,000 after buying an additional 166 shares during the last quarter. Fiduciary Advisors Inc. bought a new stake in Alphabet in the fourth quarter valued at approximately $39,000. PayPay Securities Corp lifted its position in shares of Alphabet by 36.1% in the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after buying an additional 65 shares during the last quarter. Finally, Denver PWM LLC raised its stake in Alphabet by 25.4% in the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock valued at $47,000 after acquiring an additional 57 shares during the period. 40.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on GOOGL. Citigroup decreased their price objective on shares of Alphabet from $232.00 to $229.00 and set a “buy” rating on the stock in a report on Wednesday, February 5th. Wedbush upped their price target on shares of Alphabet from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Monday, January 6th. Wells Fargo & Company cut their price objective on shares of Alphabet from $184.00 to $167.00 and set an “equal weight” rating for the company in a research report on Monday, March 31st. Roth Mkm reiterated a “buy” rating and set a $220.00 target price on shares of Alphabet in a research note on Wednesday, March 19th. Finally, Rosenblatt Securities reissued a “neutral” rating and set a $205.00 price target on shares of Alphabet in a report on Wednesday, March 19th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and five have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $209.13.

Alphabet Price Performance

Alphabet stock opened at $145.60 on Monday. The company has a market capitalization of $1.77 trillion, a PE ratio of 18.09, a P/E/G ratio of 1.34 and a beta of 1.03. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock has a 50-day moving average price of $175.15 and a two-hundred day moving average price of $176.93. Alphabet Inc. has a 12 month low of $145.38 and a 12 month high of $207.05.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.55%. Alphabet’s payout ratio is 9.94%.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the sale, the chief executive officer now owns 2,717,696 shares in the company, valued at $430,917,877.76. This represents a 1.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 2,834 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $194.32, for a total value of $550,702.88. Following the sale, the chief accounting officer now directly owns 17,847 shares of the company’s stock, valued at $3,468,029.04. This represents a 13.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 119,797 shares of company stock worth $21,089,470 over the last ninety days. 11.55% of the stock is owned by insiders.

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.