Alphabet Inc. (NASDAQ:GOOG) Shares Purchased by Investment Advisory Services Inc. TX ADV

Investment Advisory Services Inc. TX ADV raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGGet Rating) by 2,006.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,960 shares of the information services provider’s stock after acquiring an additional 3,772 shares during the period. Investment Advisory Services Inc. TX ADV’s holdings in Alphabet were worth $381,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Affiance Financial LLC raised its stake in Alphabet by 1,804.4% during the 3rd quarter. Affiance Financial LLC now owns 18,720 shares of the information services provider’s stock valued at $1,800,000 after acquiring an additional 17,737 shares during the last quarter. Simmons Bank raised its stake in Alphabet by 1,770.6% during the 3rd quarter. Simmons Bank now owns 38,928 shares of the information services provider’s stock valued at $3,743,000 after acquiring an additional 36,847 shares during the last quarter. Berger Financial Group Inc raised its stake in Alphabet by 2,235.1% during the 3rd quarter. Berger Financial Group Inc now owns 18,471 shares of the information services provider’s stock valued at $1,776,000 after acquiring an additional 17,680 shares during the last quarter. Campbell Newman Asset Management Inc. raised its stake in Alphabet by 1,900.0% during the 3rd quarter. Campbell Newman Asset Management Inc. now owns 46,960 shares of the information services provider’s stock valued at $4,515,000 after acquiring an additional 44,612 shares during the last quarter. Finally, Heritage Investors Management Corp raised its stake in Alphabet by 1,901.2% during the 3rd quarter. Heritage Investors Management Corp now owns 425,717 shares of the information services provider’s stock valued at $40,933,000 after acquiring an additional 404,444 shares during the last quarter. 28.69% of the stock is owned by hedge funds and other institutional investors.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $99.28 on Friday. Alphabet Inc. has a one year low of $83.45 and a one year high of $152.10. The business’s fifty day moving average price is $93.52 and its two-hundred day moving average price is $102.16. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.47 and a current ratio of 2.52. The stock has a market cap of $1.28 trillion, a PE ratio of 19.72, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08.

Alphabet (NASDAQ:GOOGGet Rating) last posted its quarterly earnings data on Tuesday, October 25th. The information services provider reported $1.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.25 by ($0.19). Alphabet had a return on equity of 26.41% and a net margin of 23.75%. The business had revenue of $69.09 billion for the quarter, compared to analyst estimates of $70.67 billion. During the same quarter last year, the business earned $1.40 EPS. Alphabet’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, analysts forecast that Alphabet Inc. will post 4.68 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GOOG. Raymond James cut their target price on Alphabet from $143.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday, October 26th. Cowen cut their target price on Alphabet from $150.00 to $135.00 and set an “outperform” rating for the company in a research note on Wednesday, October 26th. Jefferies Financial Group set a $125.00 target price on Alphabet in a research note on Monday, January 9th. Credit Suisse Group set a $128.00 target price on Alphabet in a research note on Wednesday, October 26th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Alphabet from $135.00 to $130.00 and set a “buy” rating for the company in a research note on Friday, October 21st. One research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $140.56.

Insider Transactions at Alphabet

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv acquired 800,000 shares of the firm’s stock in a transaction dated Monday, October 24th. The shares were acquired at an average price of $17.00 per share, for a total transaction of $13,600,000.00. Following the completion of the acquisition, the insider now directly owns 11,522,248 shares of the company’s stock, valued at $195,878,216. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of the stock in a transaction on Monday, October 31st. The stock was sold at an average price of $38.64, for a total value of $4,149,665.52. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv bought 800,000 shares of the business’s stock in a transaction that occurred on Monday, October 24th. The stock was purchased at an average cost of $17.00 per share, for a total transaction of $13,600,000.00. Following the completion of the transaction, the insider now directly owns 11,522,248 shares in the company, valued at approximately $195,878,216. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 1,461,702 shares of company stock worth $36,999,217 and have sold 190,744 shares worth $8,564,640. Insiders own 12.99% of the company’s stock.

Alphabet Profile

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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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