Wellington Management Group LLP Has $3.63 Billion Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Wellington Management Group LLP lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) by 1.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 25,736,133 shares of the information services provider’s stock after selling 431,493 shares during the quarter. Alphabet makes up approximately 0.7% of Wellington Management Group LLP’s holdings, making the stock its 26th biggest holding. Wellington Management Group LLP owned about 0.21% of Alphabet worth $3,626,993,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Veracity Capital LLC grew its holdings in Alphabet by 12.4% during the 4th quarter. Veracity Capital LLC now owns 10,597 shares of the information services provider’s stock worth $1,493,000 after acquiring an additional 1,173 shares during the last quarter. Independence Bank of Kentucky boosted its stake in shares of Alphabet by 25.3% in the 4th quarter. Independence Bank of Kentucky now owns 6,093 shares of the information services provider’s stock valued at $859,000 after purchasing an additional 1,230 shares during the last quarter. Strategic Blueprint LLC boosted its stake in shares of Alphabet by 36.7% in the 4th quarter. Strategic Blueprint LLC now owns 15,068 shares of the information services provider’s stock valued at $2,123,000 after purchasing an additional 4,044 shares during the last quarter. Investment Partners LTD. boosted its stake in shares of Alphabet by 5.8% in the 4th quarter. Investment Partners LTD. now owns 7,446 shares of the information services provider’s stock valued at $1,049,000 after purchasing an additional 410 shares during the last quarter. Finally, Global Trust Asset Management LLC boosted its stake in shares of Alphabet by 4.5% in the 4th quarter. Global Trust Asset Management LLC now owns 14,916 shares of the information services provider’s stock valued at $2,102,000 after purchasing an additional 648 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on GOOG. Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a research note on Thursday, April 11th. Stifel Nicolaus raised their target price on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Finally, Oppenheimer lifted their price objective on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, Alphabet presently has an average rating of “Buy” and an average price target of $165.67.

Read Our Latest Stock Analysis on Alphabet

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 500 shares of Alphabet stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $149.50, for a total value of $74,750.00. Following the sale, the director now directly owns 8,791 shares in the company, valued at $1,314,254.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director John L. Hennessy sold 500 shares of Alphabet stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $149.50, for a total value of $74,750.00. Following the sale, the director now directly owns 8,791 shares in the company, valued at $1,314,254.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $148.78, for a total transaction of $3,347,550.00. Following the completion of the sale, the chief executive officer now owns 2,310,191 shares in the company, valued at $343,710,216.98. The disclosure for this sale can be found here. In the last three months, insiders have sold 158,958 shares of company stock worth $25,805,853. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Up 0.9 %

GOOG stock traded up $1.63 during mid-day trading on Friday, hitting $178.37. 12,361,571 shares of the company were exchanged, compared to its average volume of 15,698,730. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The firm has a market cap of $2.20 trillion, a P/E ratio of 27.36, a P/E/G ratio of 1.32 and a beta of 1.01. The firm’s 50 day simple moving average is $169.66 and its 200 day simple moving average is $152.51. Alphabet Inc. has a 1-year low of $115.83 and a 1-year high of $182.08.

Alphabet (NASDAQ:GOOGGet Free Report) last announced its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.51 by $0.38. The firm had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The business’s quarterly revenue was up 15.4% on a year-over-year basis. During the same period last year, the company posted $1.17 EPS. On average, sell-side analysts predict that Alphabet Inc. will post 7.69 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a — dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

About Alphabet

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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