Naviter Wealth LLC Buys 35,681 Shares of Alphabet Inc. (NASDAQ:GOOG)

Naviter Wealth LLC increased its stake in Alphabet Inc. (NASDAQ:GOOGGet Rating) by 2,186.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 37,313 shares of the information services provider’s stock after purchasing an additional 35,681 shares during the quarter. Alphabet makes up approximately 1.5% of Naviter Wealth LLC’s portfolio, making the stock its 11th biggest holding. Naviter Wealth LLC’s holdings in Alphabet were worth $3,588,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. AJ Wealth Strategies LLC raised its holdings in shares of Alphabet by 1,518.3% in the 3rd quarter. AJ Wealth Strategies LLC now owns 87,321 shares of the information services provider’s stock worth $8,396,000 after purchasing an additional 81,925 shares during the period. Index Fund Advisors Inc. grew its stake in Alphabet by 1,900.6% in the 3rd quarter. Index Fund Advisors Inc. now owns 7,162 shares of the information services provider’s stock valued at $689,000 after buying an additional 6,804 shares in the last quarter. Slow Capital Inc. grew its stake in Alphabet by 1,863.9% in the 3rd quarter. Slow Capital Inc. now owns 33,544 shares of the information services provider’s stock valued at $3,225,000 after buying an additional 31,836 shares in the last quarter. Cottage Street Advisors LLC grew its stake in Alphabet by 1,885.9% in the 3rd quarter. Cottage Street Advisors LLC now owns 42,320 shares of the information services provider’s stock valued at $4,069,000 after buying an additional 40,189 shares in the last quarter. Finally, Omnia Family Wealth LLC grew its stake in Alphabet by 1,900.0% in the 3rd quarter. Omnia Family Wealth LLC now owns 8,920 shares of the information services provider’s stock valued at $858,000 after buying an additional 8,474 shares in the last quarter. Institutional investors own 28.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on GOOG shares. Credit Suisse Group set a $128.00 price objective on shares of Alphabet in a research note on Wednesday, October 26th. Jefferies Financial Group set a $125.00 price objective on shares of Alphabet in a research note on Monday, January 9th. The Goldman Sachs Group set a $135.00 price objective on shares of Alphabet in a research note on Friday, November 18th. JPMorgan Chase & Co. set a $115.00 price target on shares of Alphabet in a research report on Wednesday, October 26th. Finally, Cowen reduced their price target on shares of Alphabet from $135.00 to $125.00 and set an “outperform” rating for the company in a research report on Wednesday, January 11th. One analyst has rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $140.56.

Alphabet Stock Up 5.7 %

Shares of NASDAQ:GOOG opened at $99.28 on Friday. Alphabet Inc. has a 52-week low of $83.45 and a 52-week high of $152.10. The firm has a fifty day moving average of $93.52 and a 200 day moving average of $102.16. The firm has a market capitalization of $1.28 trillion, a PE ratio of 19.72, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.47 and a current ratio of 2.52.

Alphabet (NASDAQ:GOOGGet Rating) last posted its quarterly earnings results on Tuesday, October 25th. The information services provider reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.19). The business had revenue of $69.09 billion during the quarter, compared to the consensus estimate of $70.67 billion. Alphabet had a return on equity of 26.41% and a net margin of 23.75%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.40 earnings per share. As a group, research analysts anticipate that Alphabet Inc. will post 4.68 EPS for the current fiscal year.

Insiders Place Their Bets

In other Alphabet news, SVP Prabhakar Raghavan sold 22,203 shares of the business’s stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $89.75, for a total value of $1,992,719.25. Following the completion of the sale, the senior vice president now directly owns 76,579 shares of the company’s stock, valued at $6,872,965.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 855 shares of the business’s stock in a transaction on Wednesday, November 2nd. The shares were sold at an average price of $90.85, for a total value of $77,676.75. Following the completion of the sale, the chief accounting officer now directly owns 24,694 shares of the company’s stock, valued at $2,243,449.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Prabhakar Raghavan sold 22,203 shares of the business’s stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the completion of the sale, the senior vice president now directly owns 76,579 shares of the company’s stock, valued at $6,872,965.25. The disclosure for this sale can be found here. Over the last three months, insiders acquired 1,461,702 shares of company stock valued at $36,999,217 and sold 190,744 shares valued at $8,564,640. 12.99% of the stock is currently owned by insiders.

Alphabet Company Profile

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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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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