National Pension Service Boosts Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

National Pension Service grew its position in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 1,933.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,155,181 shares of the information services provider’s stock after purchasing an additional 7,754,048 shares during the quarter. Alphabet makes up about 1.7% of National Pension Service’s portfolio, making the stock its 8th largest position. National Pension Service owned 0.06% of Alphabet worth $799,942,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of GOOG. Vanguard Group Inc. boosted its stake in shares of Alphabet by 1,885.5% in 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 during the last quarter. BlackRock Inc. boosted its stake in shares of Alphabet by 1,857.3% in the 3rd quarter. BlackRock Inc. now owns 364,589,580 shares of the information services provider’s stock valued at $35,055,286,000 after purchasing an additional 345,962,033 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Alphabet by 1,770.6% in the 3rd 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 purchasing an additional 192,607,045 shares during the last quarter. State Street Corp boosted its stake in shares of Alphabet by 1,851.7% in the 3rd quarter. State Street Corp now owns 196,897,894 shares of the information services provider’s stock valued at $18,931,733,000 after purchasing an additional 186,809,281 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its stake 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 worth $6,075,223,000 after acquiring an additional 59,964,963 shares in the last quarter. 28.69% of the stock is owned by institutional investors.

Alphabet Price Performance

GOOG opened at $96.55 on Thursday. The firm has a market cap of $1.24 trillion, a P/E ratio of 21.22, a PEG ratio of 1.26 and a beta of 1.09. The firm has a 50-day moving average of $95.12 and a 200 day moving average of $96.84. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.34 and a current ratio of 2.38. Alphabet Inc. has a fifty-two week low of $83.45 and a fifty-two week high of $144.16.

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

Insiders Place Their Bets

In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the business’s stock in a transaction on Monday, March 13th. The stock was purchased at an average price of $29.29 per share, for a total transaction of $12,155,350.00. Following the completion of the transaction, the insider now directly owns 1,709,527 shares of the company’s stock, valued at $50,072,045.83. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the business’s stock in a transaction on Monday, March 13th. The stock was purchased at an average price of $29.29 per share, for a total transaction of $12,155,350.00. Following the completion of the transaction, the insider now directly owns 1,709,527 shares of the company’s stock, valued at $50,072,045.83. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Prabhakar Raghavan sold 22,203 shares of the firm’s stock in a transaction that occurred on 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 transaction, the senior vice president now owns 76,579 shares of the company’s stock, valued at $6,872,965.25. The disclosure for this sale can be found here. Insiders sold 36,745 shares of company stock worth $3,424,078 over the last quarter. 12.99% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GOOG. The Goldman Sachs Group set a $128.00 target price on shares of Alphabet in a research note on Friday, February 3rd. Royal Bank of Canada set a $130.00 target price on shares of Alphabet in a research note on Friday, February 3rd. Piper Sandler cut their target price on shares of Alphabet from $122.00 to $120.00 and set an “overweight” rating on the stock in a research note on Friday, February 3rd. Jefferies Financial Group set a $125.00 target price on shares of Alphabet in a research note on Friday, February 3rd. Finally, Bank of America increased their target price on shares of Alphabet from $116.00 to $119.00 and gave the stock a “buy” rating in a research note on Tuesday, January 31st. One research analyst has rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $137.13.

Alphabet Profile

(Get Rating)

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.