Sanders Capital LLC Has $6.27 Billion Holdings in Alphabet Inc. $GOOG

Sanders Capital LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 6.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 35,357,943 shares of the information services provider’s stock after buying an additional 2,117,990 shares during the period. Alphabet comprises about 8.4% of Sanders Capital LLC’s investment portfolio, making the stock its 4th biggest holding. Sanders Capital LLC owned approximately 0.29% of Alphabet worth $6,272,146,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of GOOG. RDA Financial Network grew its position in shares of Alphabet by 5.3% in the 2nd quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock worth $1,968,000 after buying an additional 554 shares during the last quarter. Bleakley Financial Group LLC lifted its stake in Alphabet by 1.4% in the second quarter. Bleakley Financial Group LLC now owns 170,020 shares of the information services provider’s stock worth $30,160,000 after acquiring an additional 2,304 shares during the period. Oldfather Financial Services LLC bought a new stake in Alphabet in the second quarter valued at $213,000. Tower View Wealth Management LLC increased its position in Alphabet by 6.9% during the 2nd quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock valued at $4,904,000 after purchasing an additional 1,776 shares during the period. Finally, Dock Street Asset Management Inc. raised its holdings in Alphabet by 0.8% in the 2nd quarter. Dock Street Asset Management Inc. now owns 234,306 shares of the information services provider’s stock worth $41,563,000 after purchasing an additional 1,970 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

Alphabet stock opened at $276.98 on Friday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $3.34 trillion, a P/E ratio of 27.32, a PEG ratio of 1.86 and a beta of 1.05. The stock’s 50 day moving average is $257.84 and its 200 day moving average is $209.82. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $292.36.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, October 30th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The business had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. During the same quarter in the previous year, the business earned $2.12 earnings per share. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. On average, equities research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be paid a $0.21 dividend. 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 presently 8.28%.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the sale, the chief executive officer owned 2,369,619 shares in the company, valued at $592,760,192.85. This represents a 1.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the transaction, the chief accounting officer owned 17,293 shares of the company’s stock, valued at approximately $4,236,785. The trade was a 13.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 221,796 shares of company stock worth $53,983,001 in the last quarter. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GOOG. TD Cowen boosted their price target on shares of Alphabet from $270.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. HSBC reaffirmed a “buy” rating and set a $335.00 price objective on shares of Alphabet in a research report on Thursday, October 30th. Canaccord Genuity Group reissued a “buy” rating and issued a $330.00 target price on shares of Alphabet in a research report on Thursday, October 30th. Pivotal Research lifted their price target on Alphabet from $300.00 to $350.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Finally, Morgan Stanley upped their price target on Alphabet from $210.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, October 2nd. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $324.81.

Alphabet 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.