Key Financial Inc Has $646,000 Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Key Financial Inc lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGGet Rating) by 1,918.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,720 shares of the information services provider’s stock after purchasing an additional 6,387 shares during the period. Key Financial Inc’s holdings in Alphabet were worth $646,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of GOOG. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Alphabet by 1,872.0% during 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. raised its position in Alphabet by 1,879.5% during the third quarter. Baillie Gifford & Co. now owns 11,694,544 shares of the information services provider’s stock valued at $1,124,431,000 after buying an additional 11,103,769 shares during the period. Nordea Investment Management AB raised its position 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 valued at $654,531,000 after buying an additional 6,343,615 shares during the period. New York State Teachers Retirement System raised its position in Alphabet by 1,835.5% during the third quarter. New York State Teachers Retirement System now owns 6,444,438 shares of the information services provider’s stock valued at $619,633,000 after buying an additional 6,111,475 shares during the period. Finally, Truist Financial Corp raised its position 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 valued at $431,640,000 after buying an additional 4,260,344 shares during the period. 28.69% of the stock is owned by institutional investors and hedge funds.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $99.21 on Wednesday. The business has a 50 day moving average price of $93.63 and a 200 day moving average price of $102.00. Alphabet Inc. has a twelve month low of $83.45 and a twelve month high of $152.10. The company has a market cap of $1.28 trillion, a price-to-earnings ratio of 19.70, a PEG ratio of 1.74 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 (NASDAQ:GOOGGet Rating) last announced its earnings results on Tuesday, October 25th. The information services provider reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.19). Alphabet had a net margin of 23.75% and a return on equity of 26.41%. The business had revenue of $69.09 billion for the quarter, compared to the consensus estimate of $70.67 billion. During the same quarter in the previous year, the company earned $1.40 EPS. Alphabet’s revenue for the quarter was up 6.1% compared to the same quarter last year. Research analysts predict that Alphabet Inc. will post 4.68 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. The Goldman Sachs Group set a $135.00 price target on Alphabet in a research report on Friday, November 18th. Raymond James dropped their price target on Alphabet from $120.00 to $116.00 and set an “outperform” rating on the stock in a research report on Tuesday. Piper Sandler dropped their target price on Alphabet from $135.00 to $122.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 26th. Societe Generale dropped their target price on Alphabet from $147.00 to $132.00 and set a “buy” rating on the stock in a research report on Wednesday, November 30th. Finally, Cowen dropped their target price on Alphabet from $135.00 to $125.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 11th. One analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $140.40.

Insider Activity at Alphabet

In related news, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of the stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $38.64, for a total transaction of $4,149,665.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of the stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $38.64, for a total transaction of $4,149,665.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 855 shares of the stock in a transaction that occurred on Wednesday, November 2nd. The shares were sold at an average price of $90.85, for a total value 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 90 days, insiders acquired 661,702 shares of company stock worth $23,399,217 and sold 190,464 shares worth $8,535,735. 12.99% of the stock is owned by corporate insiders.

Alphabet Company Profile

(Get Rating)

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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