Spotlight Asset Group Inc. Buys Shares of 5,460 Alphabet Inc. (NASDAQ:GOOG)

Spotlight Asset Group Inc. bought a new stake in Alphabet Inc. (NASDAQ:GOOGGet Rating) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 5,460 shares of the information services provider’s stock, valued at approximately $554,000.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Alphabet by 1,885.5% during the third quarter. Vanguard Group Inc. now owns 422,194,039 shares of the information services provider’s stock worth $40,593,957,000 after acquiring an additional 400,930,216 shares in the last quarter. BlackRock Inc. increased its position in shares of Alphabet by 1,857.3% during the third quarter. BlackRock Inc. now owns 364,589,580 shares of the information services provider’s stock worth $35,055,286,000 after acquiring an additional 345,962,033 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of 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 worth $19,639,414,000 after acquiring an additional 192,607,045 shares in the last quarter. State Street Corp increased its position in shares of 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 worth $18,931,733,000 after acquiring an additional 186,809,281 shares in the last quarter. Finally, Alliancebernstein L.P. increased its position in shares of 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. Institutional investors own 28.69% of the company’s stock.

Insider Transactions at Alphabet

In related news, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the business’s stock in a transaction dated Monday, March 13th. The stock was bought at an average price of $29.29 per share, for a total transaction of $12,155,350.00. Following the purchase, the insider now owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the stock in a transaction that occurred on Monday, March 13th. The shares were acquired at an average cost of $29.29 per share, with a total value of $12,155,350.00. Following the completion of the transaction, the insider now owns 1,709,527 shares in the company, valued at $50,072,045.83. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Prabhakar Raghavan sold 22,203 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 76,579 shares in the company, valued at $6,872,965.25. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,745 shares of company stock worth $3,424,078. 12.99% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GOOG. Societe Generale lowered their price objective 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 objective on shares of Alphabet in a research report on Friday, February 3rd. Raymond James increased their target price on shares of Alphabet from $116.00 to $119.00 and gave the stock an “outperform” rating in a report on Friday, February 3rd. Oppenheimer increased their target price on shares of Alphabet from $130.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, February 3rd. Finally, Piper Sandler reduced their target price on shares of Alphabet from $122.00 to $120.00 and set an “overweight” rating for the company in a report on Friday, February 3rd. One equities research analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $137.13.

Alphabet Stock Performance

NASDAQ GOOG opened at $96.55 on Thursday. 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. The stock has a market cap of $1.24 trillion, a PE ratio of 21.22, a P/E/G ratio of 1.26 and a beta of 1.09. Alphabet Inc. has a 52-week low of $83.45 and a 52-week high of $144.16.

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

Alphabet Profile

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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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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