Tiedemann Advisors LLC Boosts Holdings in Alphabet Inc. (NASDAQ:GOOG)

Tiedemann Advisors LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGGet Rating) by 1,882.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 109,900 shares of the information services provider’s stock after acquiring an additional 104,356 shares during the quarter. Alphabet accounts for approximately 0.6% of Tiedemann Advisors LLC’s holdings, making the stock its 22nd biggest holding. Tiedemann Advisors LLC’s holdings in Alphabet were worth $10,570,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in GOOG. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of 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 last quarter. Baillie Gifford & Co. grew its holdings in shares of 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 last quarter. Nordea Investment Management AB grew its holdings in shares of 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 last quarter. Truist Financial Corp grew its holdings in shares of 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 last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of 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 last quarter. 28.69% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv bought 182,312 shares of the firm’s stock in a transaction on Wednesday, November 9th. The stock was acquired at an average price of $34.60 per share, with a total value of $6,307,995.20. Following the transaction, the insider now owns 1,294,527 shares in the company, valued at $44,790,634.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Alphabet news, SVP Prabhakar Raghavan sold 22,203 shares of the business’s stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total value of $1,992,719.25. Following the completion of the transaction, the senior vice president now owns 76,579 shares of the company’s stock, valued at approximately $6,872,965.25. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder 2021 Gp L.L.C. Gv bought 182,312 shares of the firm’s stock in a transaction on Wednesday, November 9th. The stock was acquired at an average cost of $34.60 per share, with a total value of $6,307,995.20. Following the transaction, the insider now owns 1,294,527 shares in the company, valued at approximately $44,790,634.20. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 661,702 shares of company stock valued at $23,399,217 and sold 190,744 shares valued at $8,564,640. 12.99% of the stock is owned by insiders.

Alphabet Price Performance

GOOG opened at $99.28 on Monday. The stock has a 50-day moving average price of $93.52 and a 200-day moving average price of $102.16. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.52 and a quick ratio of 2.47. The firm has a market cap of $1.28 trillion, a PE ratio of 19.72, a P/E/G ratio of 1.74 and a beta of 1.08. Alphabet Inc. has a 1 year low of $83.45 and a 1 year high of $152.10.

Alphabet (NASDAQ:GOOGGet Rating) last posted its quarterly earnings results 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). The company had revenue of $69.09 billion during the quarter, compared to analysts’ expectations of $70.67 billion. Alphabet had a return on equity of 26.41% and a net margin of 23.75%. Alphabet’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.40 EPS. Sell-side analysts predict that Alphabet Inc. will post 4.68 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GOOG. Oppenheimer cut their target price on shares of Alphabet from $155.00 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 price target on shares of Alphabet in a report on Friday, November 18th. Cowen cut their price target on shares of Alphabet from $150.00 to $135.00 and set an “outperform” rating on the stock in a report on Wednesday, October 26th. Jefferies Financial Group set a $125.00 price target on shares of Alphabet in a report on Monday, January 9th. Finally, Credit Suisse Group set a $128.00 price target on shares of Alphabet in a report on Wednesday, October 26th. One research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $140.56.

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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