Assetmark Inc. Has $36.18 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Assetmark Inc. lifted its stake in Alphabet Inc. (NASDAQ:GOOG) by 54.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 189,972 shares of the information services provider’s stock after purchasing an additional 66,884 shares during the quarter. Assetmark Inc.’s holdings in Alphabet were worth $36,178,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of GOOG. Weiss Asset Management LP acquired a new position in shares of Alphabet in the 3rd quarter valued at $25,000. Fiduciary Advisors Inc. acquired a new position in shares of Alphabet in the 4th quarter valued at $27,000. Safe Harbor Fiduciary LLC acquired a new position in shares of Alphabet in the 3rd quarter valued at $33,000. Sanctuary Wealth Management L.L.C. boosted its position in shares of Alphabet by 87.3% in the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after purchasing an additional 117 shares during the period. Finally, Noble Wealth Management PBC acquired a new position in shares of Alphabet in the 4th quarter valued at $43,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Down 0.4 %

Shares of GOOG stock opened at $174.21 on Friday. The stock’s 50 day simple moving average is $190.22 and its 200 day simple moving average is $177.89. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. Alphabet Inc. has a twelve month low of $132.66 and a twelve month high of $208.70. The company has a market capitalization of $2.12 trillion, a price-to-earnings ratio of 21.64, a PEG ratio of 1.34 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. As a group, research analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.46%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio is currently 9.94%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Wedbush restated an “outperform” rating and set a $220.00 price objective on shares of Alphabet in a research report on Thursday, January 30th. The Goldman Sachs Group restated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Needham & Company LLC restated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Morgan Stanley restated an “overweight” rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, Scotiabank raised their price objective on Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $209.13.

Insiders Place Their Bets

In other Alphabet news, Director Kavitark Ram Shriram sold 37,134 shares of Alphabet stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total value of $6,870,532.68. Following the transaction, the director now directly owns 282,832 shares of the company’s stock, valued at $52,329,576.64. The trade was a 11.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 1,374 shares of Alphabet stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $173.47, for a total value of $238,347.78. Following the completion of the transaction, the chief accounting officer now directly owns 15,024 shares in the company, valued at approximately $2,606,213.28. This represents a 8.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 134,316 shares of company stock valued at $25,062,887 in the last three months. Company insiders own 12.99% of the company’s stock.

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.