Sei Investments Co. Increases Stake in Alphabet Inc. (NASDAQ:GOOG)

Sei Investments Co. raised its position in Alphabet Inc. (NASDAQ:GOOG) by 3.2% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 3,025,078 shares of the information services provider’s stock after purchasing an additional 94,994 shares during the period. Alphabet accounts for approximately 0.6% of Sei Investments Co.’s portfolio, making the stock its 19th biggest holding. Sei Investments Co.’s holdings in Alphabet were worth $365,944,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOG. Mark Sheptoff Financial Planning LLC increased its position in shares of Alphabet by 142.9% during the 1st quarter. Mark Sheptoff Financial Planning LLC now owns 340 shares of the information services provider’s stock worth $35,000 after purchasing an additional 200 shares during the last quarter. Milestone Wealth LLC increased its stake in shares of Alphabet by 1,900.0% during the third quarter. Milestone Wealth LLC now owns 380 shares of the information services provider’s stock worth $37,000 after buying an additional 361 shares during the period. Sanctuary Wealth Management L.L.C. purchased a new stake in shares of Alphabet during the second quarter worth approximately $46,000. GW&K Investment Management LLC acquired a new position in Alphabet in the first quarter valued at approximately $50,000. Finally, Impact Partnership Wealth LLC acquired a new position in Alphabet in the second quarter valued at approximately $50,000. Hedge funds and other institutional investors own 27.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GOOG. Robert W. Baird upped their price target on Alphabet from $123.00 to $140.00 in a report on Wednesday, July 26th. Susquehanna upped their price target on Alphabet from $120.00 to $150.00 in a report on Wednesday, July 26th. Wedbush began coverage on Alphabet in a report on Monday, August 21st. They issued an “outperform” rating for the company. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $160.00 price target on shares of Alphabet in a report on Wednesday, October 25th. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $130.69.

Insider Activity

In related news, Director Ann Mather sold 220 shares of Alphabet stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $130.14, for a total transaction of $28,630.80. Following the completion of the sale, the director now owns 4,818 shares in the company, valued at approximately $627,014.52. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Alphabet news, Director Ann Mather sold 220 shares of the firm’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $130.14, for a total value of $28,630.80. Following the sale, the director now directly owns 4,818 shares of the company’s stock, valued at approximately $627,014.52. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 75,000 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $131.09, for a total value of $9,831,750.00. Following the completion of the sale, the director now directly owns 104,364 shares in the company, valued at $13,681,076.76. The disclosure for this sale can be found here. Insiders sold a total of 176,576 shares of company stock worth $23,425,367 over the last 90 days. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Price Performance

NASDAQ:GOOG traded up $0.53 during trading hours on Tuesday, hitting $138.45. The company’s stock had a trading volume of 9,298,251 shares, compared to its average volume of 25,840,428. The business’s 50-day moving average is $134.60 and its two-hundred day moving average is $128.70. The company has a market capitalization of $1.73 trillion, a PE ratio of 26.47, a PEG ratio of 1.53 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.01 and a current ratio of 2.04. Alphabet Inc. has a 52-week low of $85.57 and a 52-week high of $142.38.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, October 24th. The information services provider reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.10. Alphabet had a return on equity of 25.24% and a net margin of 22.46%. The firm had revenue of $64.05 billion during the quarter, compared to analysts’ expectations of $63.13 billion. As a group, research analysts anticipate that Alphabet Inc. will post 5.74 EPS for the current fiscal year.

Alphabet Company Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.