Charles Schwab Investment Management Inc. Has $4.06 Billion Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Charles Schwab Investment Management Inc. boosted its position in Alphabet Inc. (NASDAQ:GOOG) by 1.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 28,800,413 shares of the information services provider’s stock after buying an additional 481,376 shares during the quarter. Alphabet makes up about 1.0% of Charles Schwab Investment Management Inc.’s portfolio, making the stock its 9th biggest position. Charles Schwab Investment Management Inc. owned about 0.23% of Alphabet worth $4,058,842,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. FMR LLC lifted its stake in shares of Alphabet by 3.8% during the 3rd quarter. FMR LLC now owns 120,234,117 shares of the information services provider’s stock worth $15,852,868,000 after buying an additional 4,348,188 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Alphabet by 11.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock valued at $12,649,838,000 after purchasing an additional 9,703,425 shares during the period. Northern Trust Corp grew its holdings in Alphabet by 2.3% in the 3rd quarter. Northern Trust Corp now owns 57,269,184 shares of the information services provider’s stock valued at $7,550,942,000 after buying an additional 1,275,060 shares in the last quarter. Sanders Capital LLC increased its position in Alphabet by 0.3% during the 3rd quarter. Sanders Capital LLC now owns 27,744,572 shares of the information services provider’s stock worth $3,658,122,000 after buying an additional 92,741 shares during the period. Finally, Jennison Associates LLC increased its position in Alphabet by 2.0% during the third quarter. Jennison Associates LLC now owns 19,822,203 shares of the information services provider’s stock worth $2,613,557,000 after acquiring an additional 390,118 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the completion of the sale, the chief executive officer now owns 2,332,691 shares of the company’s stock, valued at $309,548,095.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Ruth Porat sold 48,077 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the completion of the transaction, the chief financial officer now owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the completion of the sale, the chief executive officer now owns 2,332,691 shares in the company, valued at approximately $309,548,095.70. The disclosure for this sale can be found here. Insiders have sold 275,129 shares of company stock worth $40,382,765 in the last 90 days. Company insiders own 12.99% of the company’s stock.

Alphabet Trading Up 1.9 %

NASDAQ GOOG traded up $3.15 during mid-day trading on Tuesday, hitting $172.98. The company’s stock had a trading volume of 21,087,028 shares, compared to its average volume of 22,735,842. The stock’s fifty day simple moving average is $152.74 and its two-hundred day simple moving average is $144.21. The firm has a market capitalization of $2.14 trillion, a P/E ratio of 26.53, a price-to-earnings-growth ratio of 1.26 and a beta of 1.02. Alphabet Inc. has a 52-week low of $105.79 and a 52-week high of $176.42. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.51 by $0.38. The business had revenue of $80.54 billion during the quarter, compared to analyst estimates of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company’s quarterly revenue was up 15.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.17 EPS. Research analysts expect that Alphabet Inc. will post 7.66 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently announced a — dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 10th.

Analyst Ratings Changes

Several brokerages recently issued reports on GOOG. Morgan Stanley reiterated an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a research note on Thursday, April 11th. Susquehanna upped their target price on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research report on Wednesday, January 31st. Stifel Nicolaus raised their target price on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Oppenheimer raised their target price on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Finally, Raymond James upped their target price on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $165.67.

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.