Alphabet Inc. (NASDAQ:GOOG) Shares Purchased by Ibex Wealth Advisors

Ibex Wealth Advisors increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGGet Rating) by 1,888.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 6,761 shares of the information services provider’s stock after purchasing an additional 6,421 shares during the period. Ibex Wealth Advisors’ holdings in Alphabet were worth $650,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings 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 worth $1,758,856,000 after purchasing an additional 17,365,189 shares during the period. Baillie Gifford & Co. lifted its holdings in shares of Alphabet by 1,879.5% during 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 purchasing an additional 11,103,769 shares during the period. Nordea Investment Management AB lifted its holdings in shares of Alphabet by 1,899.8% during 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 purchasing an additional 6,343,615 shares during the period. New York State Teachers Retirement System lifted its holdings in shares of Alphabet by 1,835.5% during the third 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 purchasing an additional 6,111,475 shares during the period. Finally, Truist Financial Corp lifted its holdings in shares of Alphabet by 1,861.3% during the third quarter. Truist Financial Corp now owns 4,489,234 shares of the information services provider’s stock worth $431,640,000 after purchasing an additional 4,260,344 shares during the period. 28.69% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on GOOG shares. Credit Suisse Group set a $128.00 price objective on Alphabet in a research report on Wednesday, October 26th. UBS Group set a $115.00 price objective on Alphabet in a research report on Thursday, January 12th. JPMorgan Chase & Co. set a $115.00 price objective on Alphabet in a research report on Wednesday, October 26th. Cowen cut their price objective on Alphabet from $150.00 to $135.00 and set an “outperform” rating for the company in a research report on Wednesday, October 26th. Finally, Societe Generale cut their price objective on Alphabet from $147.00 to $132.00 and set a “buy” rating for the company in a research report on Wednesday, November 30th. One research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $140.40.

Insiders Place Their Bets

In other Alphabet news, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of the firm’s stock in a transaction dated 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 document filed with the SEC, which can be accessed through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 855 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $2,289,870.30. The sale was disclosed in a filing 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 firm’s stock in a transaction dated Monday, October 31st. The stock was 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 have acquired 661,702 shares of company stock valued at $23,399,217 and have sold 190,464 shares valued at $8,535,735. 12.99% of the stock is owned by corporate insiders.

Alphabet Trading Down 2.0 %

Alphabet stock opened at $99.21 on Wednesday. The stock has a market cap of $1.28 trillion, a PE ratio of 19.70, a P/E/G ratio of 1.74 and a beta of 1.08. The stock has a 50-day moving average price of $93.63 and a 200 day moving average price of $102.00. Alphabet Inc. has a 52 week low of $83.45 and a 52 week 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.

Alphabet (NASDAQ:GOOGGet Rating) last posted its quarterly earnings data on Tuesday, October 25th. The information services provider reported $1.06 EPS 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 analysts’ expectations of $70.67 billion. During the same quarter in the prior year, the business posted $1.40 EPS. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. Equities research analysts predict that Alphabet Inc. will post 4.68 earnings per share for the current fiscal year.

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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