Alphabet Inc. (NASDAQ:GOOG) Shares Purchased by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. raised its position in Alphabet Inc. (NASDAQ:GOOG) by 9.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,951,749 shares of the information services provider’s stock after buying an additional 164,849 shares during the period. Alphabet comprises 0.9% of Rockefeller Capital Management L.P.’s investment portfolio, making the stock its 14th biggest position. Rockefeller Capital Management L.P.’s holdings in Alphabet were worth $326,206,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of GOOG. Abich Financial Wealth Management LLC lifted its holdings in Alphabet by 9,200.0% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after purchasing an additional 184 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new position in shares of Alphabet in the second quarter worth about $37,000. HWG Holdings LP acquired a new position in Alphabet during the second quarter worth about $40,000. Slocum Gordon & Co LLP purchased a new stake in Alphabet during the 2nd quarter valued at about $44,000. Finally, Sanctuary Wealth Management L.L.C. raised its holdings in Alphabet by 87.3% in the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after acquiring an additional 117 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Price Performance

Shares of GOOG opened at $170.82 on Friday. 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 Inc. has a twelve month low of $129.40 and a twelve month high of $193.31. The firm has a market capitalization of $2.09 trillion, a PE ratio of 22.66, a P/E/G ratio of 1.19 and a beta of 1.04. The stock’s 50 day moving average is $169.86 and its two-hundred day moving average is $171.84.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.55 EPS. Research analysts anticipate that Alphabet Inc. will post 8.02 earnings per share for the current year.

Alphabet Announces Dividend

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 is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. Alphabet’s dividend payout ratio is presently 10.61%.

Wall Street Analysts Forecast Growth

GOOG has been the topic of several recent research reports. Canaccord Genuity Group boosted their target price on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Wells Fargo & Company raised their price objective on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Citigroup upped their target price on shares of Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Jefferies Financial Group lifted their price target on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Scotiabank assumed coverage on shares of Alphabet in a report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $200.56.

Insider Activity at Alphabet

In related news, Director Frances Arnold sold 441 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $171.06, for a total transaction of $75,437.46. Following the sale, the director now owns 16,490 shares of the company’s stock, valued at $2,820,779.40. This trade represents a 2.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet 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 completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 206,795 shares of company stock valued at $34,673,866. Insiders own 12.99% of the company’s stock.

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.