American International Group Inc. Has $272.66 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

American International Group Inc. raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 11.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,951,860 shares of the information services provider’s stock after buying an additional 200,891 shares during the period. Alphabet comprises approximately 1.1% of American International Group Inc.’s investment portfolio, making the stock its 7th biggest position. American International Group Inc.’s holdings in Alphabet were worth $272,655,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Abel Hall LLC purchased a new stake in Alphabet in the 4th quarter worth approximately $768,000. Beaird Harris Wealth Management LLC raised its holdings in shares of Alphabet by 48.7% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 2,115 shares of the information services provider’s stock valued at $295,000 after purchasing an additional 693 shares in the last quarter. Syon Capital LLC raised its holdings in shares of Alphabet by 12.0% during the 4th quarter. Syon Capital LLC now owns 41,695 shares of the information services provider’s stock valued at $5,824,000 after purchasing an additional 4,472 shares in the last quarter. Great Oak Capital Partners LLC bought a new position in shares of Alphabet during the 4th quarter valued at $305,000. Finally, Centaurus Financial Inc. raised its holdings in shares of Alphabet by 8.1% during the 4th quarter. Centaurus Financial Inc. now owns 33,524 shares of the information services provider’s stock valued at $4,683,000 after purchasing an additional 2,521 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Alphabet Price Performance

GOOGL stock traded up $1.63 during trading on Friday, hitting $176.79. 18,063,555 shares of the stock traded hands, compared to its average volume of 21,874,168. Alphabet Inc. has a one year low of $115.35 and a one year high of $180.41. The stock has a market cap of $2.18 trillion, a price-to-earnings ratio of 27.12, a P/E/G ratio of 1.33 and a beta of 1.01. The company has a 50 day simple moving average of $168.08 and a 200 day simple moving average of $151.00. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $66.04 billion. During the same period last year, the firm posted $1.17 EPS. Equities analysts expect that Alphabet Inc. will post 7.6 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend is Monday, June 10th. Alphabet’s dividend payout ratio is presently 12.27%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on GOOGL. JPMorgan Chase & Co. raised their price target on shares of Alphabet from $165.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, April 26th. Susquehanna lifted their target price on shares of Alphabet from $170.00 to $225.00 and gave the stock a “positive” rating in a report on Monday, April 29th. Truist Financial lifted their target price on shares of Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Tigress Financial lifted their target price on shares of Alphabet from $176.00 to $210.00 and gave the stock a “strong-buy” rating in a report on Friday, May 24th. Finally, Barclays lifted their target price on shares of Alphabet from $173.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Five research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $193.26.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $148.78, for a total value of $3,347,550.00. Following the completion of the transaction, the chief executive officer now directly owns 2,310,191 shares of the company’s stock, valued at $343,710,216.98. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the business’s 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 directly owns 2,310,191 shares of the company’s stock, valued at $343,710,216.98. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Kent Walker sold 12,084 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $151.19, for a total transaction of $1,826,979.96. Following the sale, the insider now directly owns 48,717 shares of the company’s stock, valued at $7,365,523.23. The disclosure for this sale can be found here. Over the last three months, insiders sold 158,958 shares of company stock valued at $25,805,853. Insiders own 11.55% 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.