Alphabet Inc. (NASDAQ:GOOG) Shares Acquired by Gerber Kawasaki Wealth & Investment Management

Gerber Kawasaki Wealth & Investment Management lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 1,935.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 202,796 shares of the information services provider’s stock after purchasing an additional 192,831 shares during the quarter. Alphabet comprises 1.8% of Gerber Kawasaki Wealth & Investment Management’s portfolio, making the stock its 13th largest position. Gerber Kawasaki Wealth & Investment Management’s holdings in Alphabet were worth $19,500,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Totem Point Management LLC increased its position in Alphabet by 22.0% in the 1st quarter. Totem Point Management LLC now owns 3,171 shares of the information services provider’s stock valued at $8,857,000 after acquiring an additional 571 shares during the period. Somerville Kurt F increased its position in Alphabet by 10.3% in the 1st quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock valued at $330,000 after acquiring an additional 11 shares during the period. BCK Partners Inc. acquired a new stake in Alphabet in the 1st quarter valued at approximately $2,564,000. Hall Capital Management Co. Inc. increased its position in Alphabet by 53.2% in the 1st quarter. Hall Capital Management Co. Inc. now owns 144 shares of the information services provider’s stock valued at $402,000 after acquiring an additional 50 shares during the period. Finally, Fairfield Bush & CO. increased its position in Alphabet by 6.8% in the 1st quarter. Fairfield Bush & CO. now owns 3,370 shares of the information services provider’s stock valued at $9,412,000 after acquiring an additional 214 shares during the period. 28.69% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

GOOG opened at $94.25 on Wednesday. The firm has a market cap of $1.21 trillion, a PE ratio of 20.71, a P/E/G ratio of 1.26 and a beta of 1.09. The company has a quick ratio of 2.34, a current ratio of 2.38 and a debt-to-equity ratio of 0.06. The business has a fifty day simple moving average of $94.96 and a 200-day simple moving average of $96.85. Alphabet Inc. has a fifty-two week low of $83.45 and a fifty-two week high of $144.16.

Alphabet (NASDAQ:GOOG – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The information services provider reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.09). The company had revenue of $76.05 billion for the quarter, compared to the consensus estimate of $76.49 billion. Alphabet had a return on equity of 23.54% and a net margin of 21.20%. The business’s revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.53 earnings per share. As a group, equities analysts predict that Alphabet Inc. will post 5.12 EPS for the current fiscal year.

Insider Transactions at Alphabet

In other news, Director Ann Mather sold 380 shares of the firm’s stock in a transaction on Tuesday, December 27th. The stock was sold at an average price of $89.24, for a total value of $33,911.20. Following the completion of the sale, the director now owns 11,300 shares of the company’s stock, valued at $1,008,412. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, SVP Prabhakar Raghavan sold 22,203 shares of the firm’s stock in a transaction on Tuesday, January 3rd. The stock was 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 owns 76,579 shares of the company’s stock, valued at $6,872,965.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ann Mather sold 380 shares of the firm’s stock in a transaction on Tuesday, December 27th. The stock was sold at an average price of $89.24, for a total value of $33,911.20. Following the completion of the sale, the director now directly owns 11,300 shares of the company’s stock, valued at approximately $1,008,412. The disclosure for this sale can be found here. Insiders sold a total of 36,745 shares of company stock valued at $3,424,078 over the last quarter. Company insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GOOG. Piper Sandler lowered their target price on Alphabet from $122.00 to $120.00 and set an “overweight” rating on the stock in a research report on Friday, February 3rd. Sanford C. Bernstein set a $130.00 target price on Alphabet in a research report on Monday, February 6th. Credit Suisse Group set a $136.00 target price on Alphabet in a research report on Friday, February 3rd. Royal Bank of Canada set a $130.00 price target on Alphabet in a research note on Friday, February 3rd. Finally, Societe Generale decreased their price target on Alphabet from $147.00 to $132.00 and set a “buy” rating for the company in a research note on Wednesday, November 30th. One equities research analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $137.13.

Alphabet Company Profile

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.