Global Strategic Investment Solutions LLC Raises Position in Alphabet Inc. (NASDAQ:GOOG)

Global Strategic Investment Solutions LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOGGet Rating) by 1,854.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,205 shares of the information services provider’s stock after buying an additional 3,041 shares during the period. Global Strategic Investment Solutions LLC’s holdings in Alphabet were worth $308,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Alphabet by 1,872.0% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 18,292,839 shares of the information services provider’s stock worth $1,758,856,000 after buying an additional 17,365,189 shares during the period. Baillie Gifford & Co. boosted its position in shares of Alphabet by 1,879.5% in the third quarter. Baillie Gifford & Co. now owns 11,694,544 shares of the information services provider’s stock worth $1,124,431,000 after buying an additional 11,103,769 shares during the period. Nordea Investment Management AB boosted its position in shares of Alphabet by 1,899.8% in the third quarter. Nordea Investment Management AB now owns 6,677,522 shares of the information services provider’s stock worth $654,531,000 after buying an additional 6,343,615 shares during the period. Truist Financial Corp boosted its holdings in Alphabet by 1,861.3% in the third quarter. Truist Financial Corp now owns 4,489,234 shares of the information services provider’s stock valued at $431,640,000 after purchasing an additional 4,260,344 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Alphabet by 2,162.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 4,441,092 shares of the information services provider’s stock valued at $427,010,000 after purchasing an additional 4,244,758 shares during the last quarter. Hedge funds and other institutional investors own 28.69% of the company’s stock.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 855 shares of the firm’s stock in a transaction that occurred on Wednesday, January 4th. The stock was sold at an average price of $91.15, for a total value of $77,933.25. Following the sale, the chief accounting officer now directly owns 25,122 shares in the company, valued at approximately $2,289,870.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CAO Amie Thuener O’toole sold 855 shares of the firm’s stock in a transaction that occurred on Wednesday, January 4th. The stock was sold at an average price of $91.15, for a total value of $77,933.25. Following the sale, the chief accounting officer now directly owns 25,122 shares in the company, valued at approximately $2,289,870.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv bought 800,000 shares of the stock in a transaction that occurred on Monday, October 24th. The stock was acquired at an average price of $17.00 per share, for a total transaction of $13,600,000.00. Following the completion of the transaction, the insider now owns 11,522,248 shares in the company, valued at $195,878,216. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 1,461,702 shares of company stock worth $36,999,217 and have sold 190,744 shares worth $8,564,640. 12.99% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on GOOG shares. Societe Generale reduced their price target on Alphabet from $147.00 to $132.00 and set a “buy” rating for the company in a report on Wednesday, November 30th. Jefferies Financial Group set a $125.00 price target on Alphabet in a report on Monday, January 9th. Piper Sandler reduced their price target on Alphabet from $135.00 to $122.00 and set an “overweight” rating for the company in a report on Wednesday, October 26th. JPMorgan Chase & Co. set a $115.00 price target on Alphabet in a report on Wednesday, October 26th. Finally, Sanford C. Bernstein set a $120.00 price target on Alphabet in a report on Thursday, January 12th. One research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $140.56.

Alphabet Stock Up 5.7 %

Shares of Alphabet stock opened at $99.28 on Friday. The company has a current ratio of 2.52, a quick ratio of 2.47 and a debt-to-equity ratio of 0.06. The business’s 50 day simple moving average is $93.52 and its 200-day simple moving average is $102.16. The stock has a market capitalization of $1.28 trillion, a price-to-earnings ratio of 19.72, a PEG ratio of 1.63 and a beta of 1.08. Alphabet Inc. has a twelve month low of $83.45 and a twelve month high of $152.10.

Alphabet (NASDAQ:GOOGGet Rating) last announced its quarterly earnings results on Tuesday, October 25th. The information services provider reported $1.06 earnings per share for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.19). Alphabet had a return on equity of 26.41% and a net margin of 23.75%. The company had revenue of $69.09 billion for the quarter, compared to analyst estimates of $70.67 billion. During the same quarter in the previous year, the company posted $1.40 earnings per share. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. Equities research analysts forecast that Alphabet Inc. will post 4.68 earnings per share for the current year.

About Alphabet

(Get Rating)

Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

See Also

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.