Raymond James Financial Services Advisors Inc. Buys 74,839 Shares of Alphabet Inc. (NASDAQ:GOOG)

Raymond James Financial Services Advisors Inc. lifted its stake in Alphabet Inc. (NASDAQ:GOOGFree Report) by 4.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,764,136 shares of the information services provider’s stock after buying an additional 74,839 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Alphabet were worth $248,620,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Tandem Wealth Advisors LLC bought a new position in Alphabet in the third quarter worth about $25,000. Bruce G. Allen Investments LLC purchased a new stake in Alphabet during the 4th quarter valued at about $26,000. HWG Holdings LP bought a new stake in shares of Alphabet in the 2nd quarter worth $26,000. Intrepid Capital Management Inc. bought a new position in Alphabet during the 2nd quarter valued at about $31,000. Finally, Buck Wealth Strategies LLC purchased a new stake in shares of Alphabet during the 3rd quarter valued at about $32,000. Institutional investors own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on GOOG. Raymond James raised their price target on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Susquehanna raised their target price on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $146.33.

Check Out Our Latest Report on Alphabet

Alphabet Price Performance

NASDAQ GOOG opened at $151.77 on Monday. The business’s fifty day moving average is $144.27 and its 200 day moving average is $139.09. Alphabet Inc. has a fifty-two week low of $100.28 and a fifty-two week high of $155.20. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. The company has a market capitalization of $1.89 trillion, a PE ratio of 26.17, a price-to-earnings-growth ratio of 1.40 and a beta of 1.05.

Alphabet (NASDAQ:GOOGGet Free Report) last announced its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The company had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $85.28 billion. During the same period in the previous year, the company posted $1.05 EPS. The firm’s revenue was up 13.5% on a year-over-year basis. Sell-side analysts predict that Alphabet Inc. will post 6.77 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $148.78, for a total transaction of $3,347,550.00. Following the transaction, the chief executive officer now owns 2,310,191 shares in the company, valued at approximately $343,710,216.98. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the completion of the transaction, the chief financial officer now owns 1,777,106 shares in the company, valued at $243,854,485.32. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $148.78, for a total transaction of $3,347,550.00. Following the completion of the sale, the chief executive officer now owns 2,310,191 shares in the company, valued at $343,710,216.98. The disclosure for this sale can be found here. Insiders sold a total of 279,659 shares of company stock worth $39,460,310 over the last three months. 12.99% of the stock is currently owned by company insiders.

Alphabet Company Profile

(Free Report)

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, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

See Also

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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