Alphabet Inc. (NASDAQ:GOOG) Position Boosted by Invst LLC

Invst LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 3.1% during the third quarter, HoldingsChannel.com reports. The fund owned 21,492 shares of the information services provider’s stock after acquiring an additional 646 shares during the period. Invst LLC’s holdings in Alphabet were worth $2,121,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of GOOG. Vanguard Group Inc. increased its stake 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 valued at $40,593,957,000 after acquiring an additional 400,930,216 shares during the period. BlackRock Inc. raised its holdings in shares of Alphabet by 1,857.3% during 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 in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Alphabet by 1,770.6% during 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 in the last quarter. State Street Corp raised its holdings in shares of Alphabet by 1,851.7% during 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 in the last quarter. Finally, Alliancebernstein L.P. raised its holdings in Alphabet by 1,862.3% in the 3rd 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 during the period. Institutional investors own 28.69% of the company’s stock.

Analysts Set New Price Targets

GOOG has been the topic of several research reports. Jefferies Financial Group set a $125.00 price objective on shares of Alphabet in a report on Friday, February 3rd. The Goldman Sachs Group set a $128.00 price target on shares of Alphabet in a research report on Friday, February 3rd. Societe Generale reduced their target price on shares of Alphabet from $147.00 to $132.00 and set a “buy” rating on the stock 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 note on Friday, February 3rd. Finally, Raymond James boosted their price target on shares of Alphabet from $116.00 to $119.00 and gave the stock an “outperform” rating in a research note on Friday, February 3rd. One investment analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $137.13.

Insider Activity at Alphabet

In related news, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the stock in a transaction dated Monday, March 13th. The shares were purchased at an average price of $29.29 per share, for a total transaction of $12,155,350.00. Following the completion of the purchase, the insider now directly owns 1,709,527 shares of the company’s stock, valued at $50,072,045.83. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Alphabet news, Director Ann Mather sold 380 shares of Alphabet stock in a transaction dated Tuesday, December 27th. The stock was sold at an average price of $89.24, for a total transaction of $33,911.20. Following the completion of the sale, the director now directly owns 11,300 shares of the company’s stock, valued at approximately $1,008,412. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the firm’s stock in a transaction 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 acquisition, the insider now directly owns 1,709,527 shares in the company, valued at $50,072,045.83. The disclosure for this purchase can be found here. Insiders have sold 74,245 shares of company stock valued at $7,174,078 in the last ninety days. Corporate insiders own 12.99% of the company’s stock.

Alphabet Trading Up 4.7 %

Shares of NASDAQ:GOOG opened at $101.07 on Friday. Alphabet Inc. has a 52-week low of $83.45 and a 52-week high of $144.16. 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 capitalization of $1.29 trillion, a price-to-earnings ratio of 22.21, a PEG ratio of 1.27 and a beta of 1.09. The stock’s 50-day simple moving average is $95.41 and its two-hundred day simple moving average is $96.87.

Alphabet (NASDAQ:GOOG – Get Rating) last released its quarterly earnings data 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). Alphabet had a return on equity of 23.54% and a net margin of 21.20%. The firm had revenue of $76.05 billion during the quarter, compared to the consensus estimate of $76.49 billion. During the same period in the previous year, the firm earned $1.53 EPS. The business’s revenue was up 1.0% compared to the same quarter last year. Analysts expect that Alphabet Inc. will post 5.12 EPS for the current year.

Alphabet Company 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.