Wealthstream Advisors Inc. Has $263,000 Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Wealthstream Advisors Inc. grew its position in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 1,837.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 2,732 shares of the information services provider’s stock after buying an additional 2,591 shares during the period. Wealthstream Advisors Inc.’s holdings in Alphabet were worth $263,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in GOOG. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Alphabet by 1,872.0% in the 3rd 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 last quarter. Baillie Gifford & Co. boosted its position in shares of Alphabet by 1,879.5% in the 3rd 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 last quarter. Nordea Investment Management AB lifted its holdings in Alphabet by 1,899.8% during 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 acquiring an additional 6,343,615 shares in the last quarter. Truist Financial Corp lifted its holdings in Alphabet by 1,861.3% during the third quarter. Truist Financial Corp now owns 4,489,234 shares of the information services provider’s stock worth $431,640,000 after acquiring an additional 4,260,344 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Alphabet by 2,162.0% during 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 acquiring an additional 4,244,758 shares in the last quarter. 28.69% of the stock is currently owned by institutional investors.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $99.28 on Friday. The business’s 50 day moving average price is $93.52 and its two-hundred day moving average price is $102.16. The company 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. The company has a quick ratio of 2.47, a current ratio of 2.52 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a twelve month low of $83.45 and a twelve month high of $152.10.

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

Analyst Upgrades and Downgrades

GOOG has been the topic of several recent analyst reports. Societe Generale reduced their target price on Alphabet from $147.00 to $132.00 and set a “buy” rating on the stock in a report on Wednesday, November 30th. Cowen reduced their target price on Alphabet from $150.00 to $135.00 and set an “outperform” rating on the stock in a report on Wednesday, October 26th. The Goldman Sachs Group set a $135.00 target price on Alphabet in a report on Friday, November 18th. Cowen dropped their price target on Alphabet from $135.00 to $125.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 11th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Alphabet from $135.00 to $130.00 and set a “buy” rating on the stock in a research note on Friday, October 21st. One equities research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $140.56.

Insiders Place Their Bets

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv purchased 800,000 shares of the stock in a transaction on Monday, October 24th. The shares were purchased at an average price of $17.00 per share, with a total value 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 $195,878,216. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, SVP Prabhakar Raghavan sold 22,203 shares of the business’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was 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 $6,872,965.25. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv purchased 800,000 shares of the business’s stock in a transaction that occurred on Monday, October 24th. The stock was bought at an average price of $17.00 per share, with a total value of $13,600,000.00. Following the completion of the purchase, the insider now owns 11,522,248 shares of the company’s stock, valued at approximately $195,878,216. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 1,461,702 shares of company stock valued at $36,999,217 and have sold 190,744 shares valued at $8,564,640. Company insiders own 12.99% of the company’s stock.

Alphabet Company 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.