Client 1ST Advisory Group LLC Has $1.27 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

Client 1ST Advisory Group LLC increased its position in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 2,073.4% during the third quarter, Holdings Channel.com reports. The firm owned 13,214 shares of the information services provider’s stock after buying an additional 12,606 shares during the quarter. Alphabet accounts for approximately 0.8% of Client 1ST Advisory Group LLC’s holdings, making the stock its 21st biggest position. Client 1ST Advisory Group LLC’s holdings in Alphabet were worth $1,271,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Alphabet by 1,885.5% in 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 purchasing an additional 400,930,216 shares during the last quarter. BlackRock Inc. raised its position in 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 buying an additional 345,962,033 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in 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 buying an additional 192,607,045 shares during the last quarter. State Street Corp lifted its stake in 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 acquiring an additional 186,809,281 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in Alphabet by 1,862.3% during 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 last quarter. Institutional investors and hedge funds own 28.69% of the company’s stock.

Insider Activity

In other news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the business’s stock in a transaction dated Monday, March 13th. The stock was bought at an average cost of $29.29 per share, for a total transaction of $12,155,350.00. Following the completion of the transaction, the insider now 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 Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Ann Mather sold 340 shares of the company’s stock in a transaction on Wednesday, January 25th. The shares were sold at an average price of $96.92, for a total value of $32,952.80. Following the transaction, the director now owns 11,300 shares of the company’s stock, valued at $1,095,196. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the company’s 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 purchase, the insider now directly owns 1,709,527 shares of the company’s stock, valued at approximately $50,072,045.83. The disclosure for this purchase can be found here. Insiders have sold a total of 74,245 shares of company stock worth $7,174,078 over the last ninety days. Company insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Societe Generale lowered their target price on shares of Alphabet from $147.00 to $132.00 and set a “buy” rating for the company in a report on Wednesday, November 30th. Cowen dropped their target price on shares of Alphabet from $135.00 to $125.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 11th. JPMorgan Chase & Co. set a $118.00 target price on Alphabet in a report on Thursday, February 9th. Oppenheimer lifted their price target on Alphabet from $130.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, February 3rd. Finally, Raymond James upped their price objective on Alphabet from $116.00 to $119.00 and gave the company an “outperform” rating in a research note on Friday, February 3rd. One research analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $137.13.

Alphabet Stock Up 4.7 %

GOOG opened at $101.07 on Friday. Alphabet Inc. has a 12 month low of $83.45 and a 12 month high of $144.16. The company has a market cap of $1.29 trillion, a PE ratio of 22.21, a price-to-earnings-growth ratio of 1.27 and a beta of 1.09. The company has a current ratio of 2.38, a quick ratio of 2.34 and a debt-to-equity ratio of 0.06. The company has a 50 day moving average of $95.41 and a 200 day moving average of $96.87.

Alphabet (NASDAQ:GOOG – Get Rating) last posted its quarterly earnings results on Thursday, February 2nd. The information services provider reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). The company had revenue of $76.05 billion during 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 was up 1.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.53 earnings per share. On average, sell-side analysts expect 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.