Worth Asset Management LLC Invests $211,000 in Alphabet Inc. (NASDAQ:GOOG)

Worth Asset Management LLC bought a new stake in Alphabet Inc. (NASDAQ:GOOG) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,109 shares of the information services provider’s stock, valued at approximately $211,000.

A number of other large investors have also recently bought and sold shares of GOOG. FMR LLC raised its stake in Alphabet by 5.2% during the third quarter. FMR LLC now owns 114,802,133 shares of the information services provider’s stock worth $19,193,768,000 after purchasing an additional 5,655,022 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Alphabet by 10.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider’s stock worth $5,573,125,000 after buying an additional 3,113,395 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Alphabet by 65.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 6,294,332 shares of the information services provider’s stock worth $1,052,349,000 after buying an additional 2,500,621 shares during the period. Canada Pension Plan Investment Board boosted its holdings in Alphabet by 27.8% in the second quarter. Canada Pension Plan Investment Board now owns 7,499,245 shares of the information services provider’s stock valued at $1,375,512,000 after acquiring an additional 1,632,691 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its position in Alphabet by 182.1% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,526,055 shares of the information services provider’s stock valued at $422,331,000 after acquiring an additional 1,630,701 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 2,834 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $197.55, for a total value of $559,856.70. Following the transaction, the chief accounting officer now directly owns 20,681 shares in the company, valued at approximately $4,085,531.55. This trade represents a 12.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $194.22, for a total transaction of $291,330.00. Following the sale, the director now directly owns 23,324 shares of the company’s stock, valued at approximately $4,529,987.28. This represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 155,887 shares of company stock valued at $27,996,356 in the last quarter. Insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on GOOG shares. Jefferies Financial Group raised their price objective on Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. UBS Group lifted their price target on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. increased their price objective on shares of Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group lifted their target price on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Phillip Securities upgraded Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Six analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $200.56.

Alphabet Stock Down 0.7 %

Shares of NASDAQ:GOOG opened at $195.39 on Thursday. The firm has a market cap of $2.39 trillion, a PE ratio of 25.91, a price-to-earnings-growth ratio of 1.34 and a beta of 0.99. The company has a fifty day simple moving average of $183.26 and a 200 day simple moving average of $174.38. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12-month low of $131.55 and a 12-month high of $202.88.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. During the same quarter in the previous year, the firm earned $1.55 EPS. The company’s revenue was up 15.1% on a year-over-year basis. On average, equities research analysts anticipate that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s payout ratio is currently 10.61%.

Alphabet Company 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.