Invesco Ltd. Has $3.69 Billion Stock Holdings in Alphabet Inc. $GOOG

by · The Cerbat Gem

Invesco Ltd. grew its holdings in Alphabet Inc. (NASDAQ:GOOGFree Report) by 1.9% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 20,774,746 shares of the information services provider’s stock after acquiring an additional 394,673 shares during the period. Alphabet comprises 0.6% of Invesco Ltd.’s holdings, making the stock its 13th biggest position. Invesco Ltd.’s holdings in Alphabet were worth $3,685,232,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in GOOG. Brighton Jones LLC raised its holdings in shares of Alphabet by 5.6% during the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock worth $22,901,000 after buying an additional 6,410 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its stake in shares of Alphabet by 44.6% in the first quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 9,270 shares of the information services provider’s stock valued at $1,448,000 after buying an additional 2,860 shares during the period. LCM Capital Management Inc raised its stake in Alphabet by 2.9% during the first quarter. LCM Capital Management Inc now owns 3,347 shares of the information services provider’s stock worth $523,000 after buying an additional 93 shares during the last quarter. Thoroughbred Financial Services LLC raised its position in shares of Alphabet by 2.5% in the 1st quarter. Thoroughbred Financial Services LLC now owns 102,986 shares of the information services provider’s stock worth $16,089,000 after acquiring an additional 2,492 shares in the last quarter. Finally, Advyzon Investment Management LLC boosted its stake in Alphabet by 80.9% during the first quarter. Advyzon Investment Management LLC now owns 10,196 shares of the information services provider’s stock worth $1,593,000 after acquiring an additional 4,560 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Citigroup reaffirmed a “market outperform” rating on shares of Alphabet in a research report on Monday, November 24th. Sanford C. Bernstein boosted their price objective on shares of Alphabet from $260.00 to $305.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Cantor Fitzgerald set a $310.00 price objective on shares of Alphabet and gave the stock a “neutral” rating in a report on Thursday, October 30th. Canaccord Genuity Group reissued a “buy” rating and set a $330.00 price target on shares of Alphabet in a research report on Thursday, October 30th. Finally, DA Davidson set a $300.00 price target on shares of Alphabet in a report on Tuesday, November 25th. Seven investment analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $307.22.

Check Out Our Latest Analysis on GOOG

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total transaction of $694,638.90. Following the transaction, the chief accounting officer directly owned 14,516 shares of the company’s stock, valued at $3,629,725.80. The trade was a 16.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction on Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the transaction, the insider owned 42,985 shares in the company, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 196,406 shares of company stock valued at $51,743,408. Insiders own 12.99% of the company’s stock.

Alphabet Price Performance

GOOG stock opened at $316.02 on Wednesday. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $328.67. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 1.75. The firm has a 50 day moving average price of $272.34 and a 200-day moving average price of $222.44. The firm has a market capitalization of $3.81 trillion, a price-to-earnings ratio of 31.17, a PEG ratio of 1.82 and a beta of 1.07.

Alphabet (NASDAQ:GOOGGet Free Report) last announced its quarterly earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. The company had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. During the same quarter in the previous year, the business posted $2.12 EPS. Alphabet’s revenue was up 15.9% compared to the same quarter last year. Equities research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be paid a dividend of $0.21 per share. The ex-dividend date is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s payout ratio is currently 8.28%.

Alphabet Company Profile

(Free Report)

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.

Further Reading

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