Naviter Wealth LLC Buys 35,681 Shares of Alphabet Inc. (NASDAQ:GOOG)

Naviter Wealth LLC increased its stake in Alphabet Inc. (NASDAQ:GOOGGet Rating) by 2,186.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,313 shares of the information services provider’s stock after buying an additional 35,681 shares during the period. Alphabet accounts for 1.5% of Naviter Wealth LLC’s portfolio, making the stock its 11th largest position. Naviter Wealth LLC’s holdings in Alphabet were worth $3,588,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of GOOG. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Alphabet by 1,872.0% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 18,292,839 shares of the information services provider’s stock worth $1,758,856,000 after purchasing an additional 17,365,189 shares during the period. Baillie Gifford & Co. grew its holdings in Alphabet by 1,879.5% in the third quarter. Baillie Gifford & Co. now owns 11,694,544 shares of the information services provider’s stock worth $1,124,431,000 after purchasing an additional 11,103,769 shares during the period. Nordea Investment Management AB grew its holdings in Alphabet by 1,899.8% in the third quarter. Nordea Investment Management AB now owns 6,677,522 shares of the information services provider’s stock worth $654,531,000 after purchasing an additional 6,343,615 shares during the period. Truist Financial Corp grew its holdings in Alphabet by 1,861.3% in the third quarter. Truist Financial Corp now owns 4,489,234 shares of the information services provider’s stock worth $431,640,000 after purchasing an additional 4,260,344 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in Alphabet by 2,162.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 4,441,092 shares of the information services provider’s stock worth $427,010,000 after purchasing an additional 4,244,758 shares during the period. 28.69% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 855 shares of Alphabet stock in a transaction dated Wednesday, November 2nd. The shares were sold at an average price of $90.85, for a total transaction of $77,676.75. Following the completion of the transaction, the chief accounting officer now directly owns 24,694 shares of the company’s stock, valued at approximately $2,243,449.90. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, SVP Prabhakar Raghavan sold 22,203 shares of Alphabet stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the completion of the sale, the senior vice president now owns 76,579 shares in the company, valued at approximately $6,872,965.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O’toole sold 855 shares of Alphabet stock in a transaction dated Wednesday, November 2nd. The shares were sold at an average price of $90.85, for a total transaction of $77,676.75. Following the sale, the chief accounting officer now owns 24,694 shares of the company’s stock, valued at approximately $2,243,449.90. The disclosure for this sale can be found here. In the last three months, insiders acquired 1,461,702 shares of company stock valued at $36,999,217 and sold 190,744 shares valued at $8,564,640. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Up 5.7 %

GOOG opened at $99.28 on Friday. The company has a current ratio of 2.52, a quick ratio of 2.47 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a 1-year low of $83.45 and a 1-year high of $152.10. The company has a market capitalization of $1.28 trillion, a PE ratio of 19.72, a PEG ratio of 1.63 and a beta of 1.08. The firm’s 50 day simple moving average is $93.52 and its two-hundred day simple moving average is $102.16.

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on GOOG shares. Societe Generale cut their price objective on shares of Alphabet from $147.00 to $132.00 and set a “buy” rating on the stock in a report on Wednesday, November 30th. Jefferies Financial Group set a $125.00 price target on shares of Alphabet in a report on Monday, January 9th. Credit Suisse Group set a $128.00 price target on shares of Alphabet in a report on Wednesday, October 26th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Alphabet from $135.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, October 21st. Finally, Raymond James cut their price target on shares of Alphabet from $143.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, October 26th. One analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $140.56.

About Alphabet

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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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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