Earned Wealth Advisors LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 52.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,370 shares of the information services provider's stock after acquiring an additional 4,254 shares during the quarter. Earned Wealth Advisors LLC's holdings in Alphabet were worth $3,881,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of GOOG. JPMorgan Chase & Co. raised its holdings in Alphabet by 8.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 99,529,742 shares of the information services provider's stock worth $24,240,469,000 after acquiring an additional 7,904,434 shares during the last quarter. Danske Bank A S purchased a new stake in Alphabet during the 3rd quarter valued at $678,198,000. Holocene Advisors LP purchased a new stake in Alphabet during the 2nd quarter valued at $455,745,000. Alliancebernstein L.P. increased its holdings in shares of Alphabet by 5.8% in the 3rd quarter. Alliancebernstein L.P. now owns 40,032,291 shares of the information services provider's stock worth $9,749,864,000 after purchasing an additional 2,209,203 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its stake in shares of Alphabet by 208.0% in the third quarter. Mercer Global Advisors Inc. ADV now owns 1,130,681 shares of the information services provider's stock worth $273,026,000 after purchasing an additional 2,177,855 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.
Alphabet Stock Performance
Shares of GOOG opened at $347.50 on Wednesday. The firm has a market capitalization of $4.20 trillion, a P/E ratio of 32.15, a PEG ratio of 2.16 and a beta of 1.13. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.01 and a quick ratio of 2.01. Alphabet Inc. has a one year low of $149.49 and a one year high of $350.90. The business has a fifty day moving average of $310.00 and a 200 day moving average of $306.97.
Alphabet (NASDAQ:GOOG - Get Free Report) last posted its earnings results on Thursday, February 5th. The information services provider reported $2.82 earnings per share for the quarter, beating analysts' consensus estimates of $2.59 by $0.23. The company had revenue of $113.83 billion for the quarter, compared to the consensus estimate of $111.24 billion. Alphabet had a return on equity of 35.01% and a net margin of 32.81%.Alphabet's revenue was up 18.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.15 earnings per share. As a group, sell-side analysts anticipate that Alphabet Inc. will post 11.53 EPS for the current year.
Analyst Ratings Changes
A number of research analysts have recently issued reports on GOOG shares. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Alphabet in a report on Monday, April 20th. DZ Bank raised Alphabet to a "strong-buy" rating in a research report on Monday, February 16th. KeyCorp set a $370.00 target price on shares of Alphabet in a research note on Thursday, February 5th. Scotiabank reaffirmed an "outperform" rating and set a $400.00 price target (up from $375.00) on shares of Alphabet in a report on Thursday, February 5th. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a $365.00 price target on shares of Alphabet in a research note on Monday, January 5th. Seven investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $351.73.
Read Our Latest Analysis on GOOG
Insider Activity
In related news, Director John L. Hennessy sold 1,050 shares of the firm's stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $331.65, for a total value of $348,232.50. Following the transaction, the director owned 3,581 shares of the company's stock, valued at approximately $1,187,638.65. This trade represents a 22.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $307.89, for a total transaction of $10,006,425.00. Following the completion of the transaction, the chief executive officer directly owned 1,642,060 shares in the company, valued at approximately $505,573,853.40. The trade was a 1.94% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 2,037,294 shares of company stock worth $94,216,897. Company insiders own 12.99% of the company's stock.
Key Stories Impacting Alphabet
Here are the key news stories impacting Alphabet this week:
About Alphabet
(
Free Report)
Alphabet Inc NASDAQ: GOOG is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as "Other Bets." Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company's history.
Alphabet's core business centers on internet search and advertising, with Google Search and the company's ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.
Further Reading
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