Allianz Asset Management AG boosted its position in Alphabet Inc (NASDAQ:GOOG) by 14.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 538,269 shares of the information services provider’s stock after buying an additional 66,986 shares during the period. Alphabet accounts for approximately 0.4% of Allianz Asset Management AG’s portfolio, making the stock its 15th largest position. Allianz Asset Management AG owned 0.08% of Alphabet worth $415,447,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. State Street Corp boosted its position in shares of Alphabet by 2.5% in the fourth quarter. State Street Corp now owns 12,030,811 shares of the information services provider’s stock worth $9,285,625,000 after buying an additional 290,691 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Alphabet by 0.7% in the third quarter. Price T Rowe Associates Inc. MD now owns 9,831,305 shares of the information services provider’s stock valued at $7,641,775,000 after buying an additional 65,873 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of Alphabet by 1.8% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 7,897,508 shares of the information services provider’s stock valued at $6,138,654,000 after buying an additional 138,807 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Alphabet by 0.7% in the third quarter. Bank of New York Mellon Corp now owns 4,058,328 shares of the information services provider’s stock valued at $3,154,497,000 after buying an additional 27,472 shares during the last quarter. Finally, BlackRock Fund Advisors raised its stake in shares of Alphabet by 3.1% in the third quarter. BlackRock Fund Advisors now owns 3,883,226 shares of the information services provider’s stock valued at $3,018,393,000 after buying an additional 117,242 shares during the last quarter. 34.74% of the stock is currently owned by institutional investors.
Alphabet Inc (NASDAQ:GOOG) traded up 0.18% during trading on Friday, reaching $843.19. 1,323,583 shares of the company’s stock traded hands. Alphabet Inc has a one year low of $663.28 and a one year high of $853.50. The firm has a market cap of $583.00 billion, a price-to-earnings ratio of 30.25 and a beta of 0.94. The company has a 50 day moving average of $833.39 and a 200 day moving average of $803.07.
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Several research firms have recently weighed in on GOOG. BMO Capital Markets restated an “outperform” rating and set a $1,005.00 price objective on shares of Alphabet in a research note on Friday, March 3rd. Pivotal Research reaffirmed a “hold” rating and set a $950.00 target price on shares of Alphabet in a report on Monday, March 27th. Cowen and Company reissued an “outperform” rating and issued a $1,050.00 price objective on shares of Alphabet in a report on Wednesday. MKM Partners reissued a “buy” rating and issued a $1,000.00 price objective (up previously from $935.00) on shares of Alphabet in a report on Thursday, February 2nd. Finally, Credit Suisse Group AG reissued a “buy” rating and issued a $1,100.00 price objective on shares of Alphabet in a report on Friday, January 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating and forty-two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $956.36.
In other news, SVP David C. Drummond sold 2,000 shares of the company’s stock in a transaction on Monday, February 13th. The stock was sold at an average price of $826.85, for a total value of $1,653,700.00. Following the transaction, the senior vice president now owns 6,800 shares of the company’s stock, valued at approximately $5,622,580. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Lawrence Page sold 33,332 shares of the company’s stock in a transaction on Monday, January 30th. The shares were sold at an average price of $814.49, for a total value of $27,148,580.68. Following the completion of the transaction, the chief executive officer now directly owns 30,666 shares in the company, valued at approximately $24,977,150.34. The disclosure for this sale can be found here. Insiders have sold 281,688 shares of company stock valued at $229,255,327 over the last quarter. 13.92% of the stock is owned by company insiders.
About Alphabet
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
