Alta Advisers Ltd Acquires New Stake in Alphabet Inc. (NASDAQ:GOOG)

Alta Advisers Ltd acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOGGet Rating) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 14,200 shares of the information services provider’s stock, valued at approximately $1,365,000. Alphabet comprises approximately 0.9% of Alta Advisers Ltd’s portfolio, making the stock its 9th largest holding.

A number of other large investors have also made changes to their positions in GOOG. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Alphabet by 1,872.0% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 18,292,839 shares of the information services provider’s stock valued at $1,758,856,000 after acquiring an additional 17,365,189 shares during the last quarter. Baillie Gifford & Co. boosted its stake in Alphabet by 1,879.5% in the 3rd 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 last quarter. Nordea Investment Management AB boosted its stake in Alphabet by 1,899.8% in the 3rd 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 last quarter. New York State Teachers Retirement System boosted its stake in Alphabet by 1,835.5% in the 3rd quarter. New York State Teachers Retirement System now owns 6,444,438 shares of the information services provider’s stock worth $619,633,000 after buying an additional 6,111,475 shares during the last quarter. Finally, Truist Financial Corp boosted its stake in Alphabet by 1,861.3% in the 3rd quarter. Truist Financial Corp now owns 4,489,234 shares of the information services provider’s stock worth $431,640,000 after buying an additional 4,260,344 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 2017 Gp L.L.C. Gv sold 107,393 shares of the business’s stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $38.64, for a total value of $4,149,665.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, major shareholder 2021 Gp L.L.C. Gv acquired 277,493 shares of Alphabet stock in a transaction that occurred on Friday, November 4th. The stock was acquired at an average price of $36.01 per share, for a total transaction of $9,992,522.93. Following the transaction, the insider now directly owns 870,895 shares of the company’s stock, valued at approximately $31,360,928.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of the business’s stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $38.64, for a total value of $4,149,665.52. The disclosure for this sale can be found here. In the last ninety days, insiders bought 661,702 shares of company stock worth $23,399,217 and sold 190,744 shares worth $8,564,640. Company insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GOOG. JPMorgan Chase & Co. set a $115.00 price target on Alphabet in a research note on Wednesday, October 26th. Oppenheimer decreased their price target on Alphabet from $155.00 to $135.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 26th. Credit Suisse Group set a $128.00 price objective on Alphabet in a research note on Wednesday, October 26th. Jefferies Financial Group set a $125.00 price objective on Alphabet in a research note on Monday, January 9th. Finally, The Goldman Sachs Group set a $135.00 price objective on Alphabet in a research note on Friday, November 18th. One analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $140.56.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $99.28 on Monday. Alphabet Inc. has a twelve month low of $83.45 and a twelve month high of $152.10. 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 company has a market capitalization of $1.28 trillion, a price-to-earnings ratio of 19.72, a price-to-earnings-growth ratio of 1.74 and a beta of 1.08. The business has a 50 day simple moving average of $93.52 and a 200-day simple moving average of $102.16.

Alphabet (NASDAQ:GOOGGet Rating) last issued 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 net margin of 23.75% and a return on equity of 26.41%. The firm had revenue of $69.09 billion during the quarter, compared to the consensus estimate of $70.67 billion. During the same quarter last year, the firm posted $1.40 earnings per share. Alphabet’s revenue was up 6.1% compared to the same quarter last year. As a group, equities research analysts expect that Alphabet Inc. will post 4.68 earnings per share for the current year.

Alphabet Profile

(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.