United Services Automobile Association Increases Stock Position in Alphabet Inc. (NASDAQ:GOOG)

United Services Automobile Association lifted its holdings in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 1,943.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 211,600 shares of the information services provider’s stock after purchasing an additional 201,244 shares during the period. United Services Automobile Association’s holdings in Alphabet were worth $20,346,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Alphabet by 1,885.5% during the 3rd quarter. Vanguard Group Inc. now owns 422,194,039 shares of the information services provider’s stock valued at $40,593,957,000 after purchasing an additional 400,930,216 shares in the last quarter. BlackRock Inc. grew its position in Alphabet by 1,857.3% during the third quarter. BlackRock Inc. now owns 364,589,580 shares of the information services provider’s stock valued at $35,055,286,000 after buying an additional 345,962,033 shares during the period. Price T Rowe Associates Inc. MD grew its position in Alphabet by 1,770.6% during the third quarter. Price T Rowe Associates Inc. MD now owns 203,484,912 shares of the information services provider’s stock valued at $19,639,414,000 after buying an additional 192,607,045 shares during the period. State Street Corp grew its position in Alphabet by 1,851.7% during the third quarter. State Street Corp now owns 196,897,894 shares of the information services provider’s stock valued at $18,931,733,000 after buying an additional 186,809,281 shares during the period. Finally, Alliancebernstein L.P. lifted its holdings in Alphabet by 1,862.3% during the third quarter. Alliancebernstein L.P. now owns 63,184,850 shares of the information services provider’s stock valued at $6,075,223,000 after purchasing an additional 59,964,963 shares in the last quarter. Hedge funds and other institutional investors own 28.69% of the company’s stock.

Alphabet Stock Performance

Shares of GOOG opened at $94.25 on Wednesday. The business’s fifty day moving average price is $94.96 and its 200 day moving average price is $96.85. Alphabet Inc. has a 12-month low of $83.45 and a 12-month high of $144.16. The stock has a market capitalization of $1.21 trillion, a PE ratio of 20.71, a price-to-earnings-growth ratio of 1.26 and a beta of 1.09. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.38 and a quick ratio of 2.34.

Alphabet (NASDAQ:GOOG – Get Rating) last announced its quarterly earnings data on Thursday, February 2nd. The information services provider reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.09). Alphabet had a return on equity of 23.54% and a net margin of 21.20%. The firm had revenue of $76.05 billion for the quarter, compared to the consensus estimate of $76.49 billion. During the same quarter last year, the business earned $1.53 earnings per share. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. Equities research analysts forecast that Alphabet Inc. will post 5.12 EPS for the current year.

Analysts Set New Price Targets

GOOG has been the topic of several recent analyst reports. The Goldman Sachs Group set a $128.00 price objective on shares of Alphabet in a report on Friday, February 3rd. Sanford C. Bernstein set a $130.00 price objective on shares of Alphabet in a research report on Monday, February 6th. Societe Generale dropped their price target on shares of Alphabet from $147.00 to $132.00 and set a “buy” rating for the company in a research report on Wednesday, November 30th. Royal Bank of Canada set a $130.00 price target on shares of Alphabet in a research report on Friday, February 3rd. Finally, Roth Capital restated a “buy” rating on shares of Alphabet in a report on Friday, February 3rd. One analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $137.13.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 855 shares of the firm’s stock in a transaction on Wednesday, January 4th. The stock was sold at an average price of $91.15, for a total transaction of $77,933.25. Following the transaction, the chief accounting officer now directly owns 25,122 shares in the company, valued at $2,289,870.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 855 shares of the firm’s stock in a transaction on Wednesday, January 4th. The stock was sold at an average price of $91.15, for a total value of $77,933.25. Following the sale, the chief accounting officer now directly owns 25,122 shares in the company, valued at $2,289,870.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ann Mather sold 380 shares of the firm’s stock in a transaction on Tuesday, December 27th. The shares were sold at an average price of $89.24, for a total value of $33,911.20. Following the completion of the sale, the director now owns 11,300 shares in the company, valued at $1,008,412. The disclosure for this sale can be found here. Insiders have sold 36,745 shares of company stock worth $3,424,078 over the last ninety days. 12.99% of the stock is owned by insiders.

About Alphabet

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.