State Street Corp Has $36.91 Billion Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

State Street Corp raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 222,555,548 shares of the information services provider’s stock after purchasing an additional 743,369 shares during the period. Alphabet accounts for about 1.5% of State Street Corp’s holdings, making the stock its 6th largest holding. State Street Corp’s holdings in Alphabet were worth $36,910,838,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Stevens Capital Management LP raised its position in Alphabet by 287.7% during the 3rd quarter. Stevens Capital Management LP now owns 104,085 shares of the information services provider’s stock valued at $17,262,000 after purchasing an additional 77,235 shares during the last quarter. Sassicaia Capital Advisers LLC bought a new position in shares of Alphabet in the 3rd quarter worth approximately $315,000. Quantinno Capital Management LP raised its position in shares of Alphabet by 22.8% in the 3rd quarter. Quantinno Capital Management LP now owns 639,077 shares of the information services provider’s stock worth $105,991,000 after acquiring an additional 118,857 shares in the last quarter. Miller Investment Management LP raised its position in shares of Alphabet by 17.2% in the 3rd quarter. Miller Investment Management LP now owns 87,093 shares of the information services provider’s stock worth $14,444,000 after acquiring an additional 12,804 shares in the last quarter. Finally, Mission Creek Capital Partners Inc. raised its position in shares of Alphabet by 1.8% in the 3rd quarter. Mission Creek Capital Partners Inc. now owns 19,880 shares of the information services provider’s stock worth $3,297,000 after acquiring an additional 342 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $194.22, for a total value of $291,330.00. Following the completion of the transaction, the director now owns 23,324 shares in the company, valued at approximately $4,529,987.28. This trade represents a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total value of $3,614,175.00. Following the transaction, the chief executive officer now owns 2,114,885 shares of the company’s stock, valued at $339,713,977.55. This trade represents a 1.05 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 198,623 shares of company stock worth $34,413,006. Corporate insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on GOOGL shares. Cantor Fitzgerald reissued a “neutral” rating and issued a $190.00 target price on shares of Alphabet in a research report on Wednesday, October 30th. BMO Capital Markets reissued an “outperform” rating and issued a $217.00 target price (up previously from $215.00) on shares of Alphabet in a research report on Wednesday, October 30th. China Renaissance raised Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Finally, Evercore ISI raised their price objective on Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $206.08.

Alphabet Price Performance

NASDAQ:GOOGL opened at $189.82 on Friday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The business’s 50-day simple moving average is $171.63 and its two-hundred day simple moving average is $170.67. The stock has a market cap of $2.32 trillion, a PE ratio of 25.18, a P/E/G ratio of 1.39 and a beta of 1.01. Alphabet Inc. has a 52 week low of $129.68 and a 52 week high of $195.61.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. During the same period in the previous year, the firm posted $1.55 earnings per share. As a group, analysts forecast that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be given a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.42%. Alphabet’s dividend 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.