Allianz Asset Management GmbH Grows Holdings in Alphabet Inc (GOOG)
Allianz Asset Management GmbH raised its position in Alphabet Inc (NASDAQ:GOOG) by 18.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 354,984 shares of the information services provider’s stock after acquiring an additional 55,840 shares during the quarter. Allianz Asset Management GmbH’s holdings in Alphabet were worth $423,662,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOOG. Private Advisor Group LLC grew its position in Alphabet by 18,323.9% in the 2nd quarter. Private Advisor Group LLC now owns 954,357 shares of the information services provider’s stock valued at $1,064,798,000 after acquiring an additional 949,177 shares in the last quarter. Mainstay Capital Management LLC ADV grew its position in shares of Alphabet by 79,743.5% during the second quarter. Mainstay Capital Management LLC ADV now owns 796,838 shares of the information services provider’s stock worth $1,009,000 after buying an additional 795,840 shares in the last quarter. Moneta Group Investment Advisors LLC grew its position in shares of Alphabet by 37,811.2% during the second quarter. Moneta Group Investment Advisors LLC now owns 354,849 shares of the information services provider’s stock worth $1,691,000 after buying an additional 353,913 shares in the last quarter. BlackRock Inc. grew its position in shares of Alphabet by 1.3% during the third quarter. BlackRock Inc. now owns 19,492,447 shares of the information services provider’s stock worth $23,263,651,000 after buying an additional 246,674 shares in the last quarter. Finally, FMR LLC grew its position in shares of Alphabet by 1.8% during the third quarter. FMR LLC now owns 11,512,271 shares of the information services provider’s stock worth $13,739,550,000 after buying an additional 202,765 shares in the last quarter. 42.14% of the stock is owned by institutional investors.
GOOG stock opened at $1,120.16 on Thursday. The company has a market cap of $780.34 billion, a P/E ratio of 23.05 and a beta of 1.06. Alphabet Inc has a fifty-two week low of $970.11 and a fifty-two week high of $1,273.89. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.92 and a quick ratio of 3.89.
In related news, Director Ann Mather sold 40 shares of the business’s stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $1,113.10, for a total transaction of $44,524.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 21st. The shares were sold at an average price of $1,038.35, for a total value of $10,383,500.00. Following the completion of the sale, the chief executive officer now owns 519 shares of the company’s stock, valued at approximately $538,903.65. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 61,897 shares of company stock valued at $64,948,799. 13.11% of the stock is owned by company insiders.
GOOG has been the subject of a number of analyst reports. Stifel Nicolaus reissued a “buy” rating on shares of Alphabet in a research report on Friday, October 26th. UBS Group reissued a “buy” rating on shares of Alphabet in a research report on Monday, January 14th. Canaccord Genuity lowered their price objective on Alphabet from $1,170.00 to $1,140.00 and set a “hold” rating for the company in a research report on Friday, October 26th. Deutsche Bank reissued a “buy” rating and set a $1,375.00 price objective (up from $1,350.00) on shares of Alphabet in a research report on Tuesday, October 23rd. Finally, Macquarie reissued a “buy” rating on shares of Alphabet in a research report on Friday, October 26th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-nine have assigned a buy rating to the company. Alphabet currently has an average rating of “Buy” and an average price target of $1,327.66.
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Alphabet Company Profile
Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.
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