LFS Asset Management Purchases 5,364 Shares of Alphabet Inc. (NASDAQ:GOOG)

LFS Asset Management boosted its position in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 3,047.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,540 shares of the information services provider’s stock after acquiring an additional 5,364 shares during the period. LFS Asset Management’s holdings in Alphabet were worth $533,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Alphabet by 1,885.5% in the third quarter. Vanguard Group Inc. now owns 422,194,039 shares of the information services provider’s stock valued at $40,593,957,000 after acquiring an additional 400,930,216 shares during the last quarter. BlackRock Inc. lifted its stake in Alphabet by 1,857.3% in the third quarter. BlackRock Inc. now owns 364,589,580 shares of the information services provider’s stock valued at $35,055,286,000 after buying an additional 345,962,033 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Alphabet by 1,770.6% in the third quarter. Price T Rowe Associates Inc. MD now owns 203,484,912 shares of the information services provider’s stock valued at $19,639,414,000 after buying an additional 192,607,045 shares during the period. State Street Corp lifted its stake in Alphabet by 1,851.7% in the third quarter. State Street Corp now owns 196,897,894 shares of the information services provider’s stock valued at $18,931,733,000 after buying an additional 186,809,281 shares during the period. Finally, Alliancebernstein L.P. lifted its stake in Alphabet by 1,862.3% in the third quarter. Alliancebernstein L.P. now owns 63,184,850 shares of the information services provider’s stock valued at $6,075,223,000 after buying an additional 59,964,963 shares during the period. Institutional investors own 28.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Societe Generale cut their target price on Alphabet from $147.00 to $132.00 and set a “buy” rating on the stock in a research note on Wednesday, November 30th. Jefferies Financial Group set a $125.00 target price on Alphabet in a research note on Friday, February 3rd. Raymond James increased their target price on Alphabet from $116.00 to $119.00 and gave the company an “outperform” rating in a research note on Friday, February 3rd. Royal Bank of Canada set a $130.00 target price on Alphabet in a research note on Friday, February 3rd. Finally, Roth Capital reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday, February 3rd. One analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $137.13.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 37,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $100.00, for a total value of $3,750,000.00. Following the completion of the transaction, the director now directly owns 144,740 shares in the company, valued at $14,474,000. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Kavitark Ram Shriram sold 37,500 shares of Alphabet stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $100.00, for a total transaction of $3,750,000.00. Following the completion of the transaction, the director now directly owns 144,740 shares in the company, valued at approximately $14,474,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Prabhakar Raghavan sold 22,203 shares of Alphabet stock in a transaction that occurred 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 transaction, the senior vice president now owns 76,579 shares of the company’s stock, valued at $6,872,965.25. The disclosure for this sale can be found here. Insiders sold a total of 74,245 shares of company stock worth $7,174,078 over the last ninety days. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Stock Up 4.7 %

GOOG stock opened at $101.07 on Friday. 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 50 day moving average price of $95.41 and a two-hundred day moving average price of $96.87. The company has a market cap of $1.29 trillion, a price-to-earnings ratio of 22.21, a P/E/G ratio of 1.27 and a beta of 1.09. Alphabet Inc. has a twelve month low of $83.45 and a twelve month high of $144.16.

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

About Alphabet

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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.