Van ECK Associates Corp Has $90.01 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Van ECK Associates Corp increased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 11.0% in the 3rd quarter, Holdings Channel reports. The fund owned 547,237 shares of the information services provider’s stock after purchasing an additional 54,262 shares during the period. Van ECK Associates Corp’s holdings in Alphabet were worth $90,010,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Twelve Points Wealth Management LLC lifted its position in shares of Alphabet by 0.7% during the 2nd quarter. Twelve Points Wealth Management LLC now owns 7,985 shares of the information services provider’s stock worth $1,465,000 after buying an additional 55 shares during the period. PCG Wealth Advisors LLC raised its stake in Alphabet by 3.1% during the second quarter. PCG Wealth Advisors LLC now owns 1,880 shares of the information services provider’s stock worth $345,000 after acquiring an additional 57 shares in the last quarter. Investment Advisory Services Inc. TX ADV lifted its holdings in shares of Alphabet by 1.6% during the second quarter. Investment Advisory Services Inc. TX ADV now owns 3,636 shares of the information services provider’s stock valued at $667,000 after acquiring an additional 57 shares during the period. Advisors Management Group Inc. ADV boosted its stake in shares of Alphabet by 2.0% in the 2nd quarter. Advisors Management Group Inc. ADV now owns 2,944 shares of the information services provider’s stock valued at $540,000 after purchasing an additional 58 shares in the last quarter. Finally, Mark Sheptoff Financial Planning LLC grew its holdings in shares of Alphabet by 11.1% in the 1st quarter. Mark Sheptoff Financial Planning LLC now owns 600 shares of the information services provider’s stock worth $91,000 after purchasing an additional 60 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GOOG has been the topic of a number of recent analyst reports. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Citigroup boosted their target price on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. TD Cowen increased their price target on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Finally, Barclays increased their target price on Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $200.56.

Alphabet Price Performance

GOOG opened at $172.65 on Monday. The company has a fifty day moving average price of $163.81 and a two-hundred day moving average price of $170.63. The firm has a market capitalization of $2.13 trillion, a PE ratio of 22.90, a P/E/G ratio of 1.24 and a beta of 1.04. Alphabet Inc. has a 52 week low of $128.11 and a 52 week high of $193.31. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. During the same period in the previous year, the firm earned $1.55 earnings per share. The firm’s quarterly revenue was up 15.1% compared to the same quarter last year. As a group, analysts anticipate that Alphabet Inc. will post 7.89 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s payout ratio is 10.61%.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the sale, the chief accounting officer now directly owns 32,017 shares in the company, valued at approximately $5,136,807.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the transaction, the director now owns 330,466 shares of the company’s stock, valued at approximately $59,741,643.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the completion of the transaction, the chief accounting officer now owns 32,017 shares of the company’s stock, valued at $5,136,807.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 230,244 shares of company stock worth $37,776,954. 12.99% of the stock is currently owned by company insiders.

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.