United Asset Strategies Inc. lowered its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 15.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,796 shares of the information services provider's stock after selling 1,950 shares during the period. United Asset Strategies Inc.'s holdings in Alphabet were worth $2,056,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. FMR LLC grew its stake in shares of Alphabet by 5.2% in the third quarter. FMR LLC now owns 114,802,133 shares of the information services provider's stock worth $19,193,768,000 after acquiring an additional 5,655,022 shares during the last quarter. Geode Capital Management LLC increased its holdings in Alphabet by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 103,557,486 shares of the information services provider's stock valued at $17,247,208,000 after buying an additional 259,213 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Alphabet by 10.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider's stock worth $5,573,125,000 after acquiring an additional 3,113,395 shares during the period. Jennison Associates LLC boosted its position in shares of Alphabet by 9.1% during the 3rd quarter. Jennison Associates LLC now owns 15,424,324 shares of the information services provider's stock valued at $2,578,793,000 after acquiring an additional 1,291,274 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Alphabet by 2.5% during the 3rd quarter. Principal Financial Group Inc. now owns 11,024,276 shares of the information services provider's stock valued at $1,843,149,000 after acquiring an additional 264,962 shares in the last quarter. 27.26% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several equities analysts recently commented on the company. Oppenheimer raised their target price on Alphabet from $215.00 to $225.00 and gave the stock an "outperform" rating in a research report on Thursday. Jefferies Financial Group lifted their target price on shares of Alphabet from $220.00 to $235.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Phillip Securities upgraded Alphabet to a "strong-buy" rating in a report on Friday, November 1st. Canaccord Genuity Group upped their price target on shares of Alphabet from $220.00 to $225.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. Finally, Scotiabank increased their price target on shares of Alphabet from $212.00 to $240.00 and gave the company a "sector outperform" rating in a research note on Friday, January 24th. Six investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, Alphabet has a consensus rating of "Moderate Buy" and an average target price of $205.80.
Read Our Latest Report on GOOG
Insiders Place Their Bets
In other news, CAO Amie Thuener O'toole sold 2,834 shares of the company's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $197.55, for a total transaction of $559,856.70. Following the transaction, the chief accounting officer now owns 20,681 shares of the company's stock, valued at $4,085,531.55. This represents a 12.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frances Arnold sold 441 shares of Alphabet stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the sale, the director now directly owns 16,490 shares of the company's stock, valued at approximately $2,820,779.40. This trade represents a 2.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 122,887 shares of company stock valued at $22,470,464 in the last 90 days. 12.99% of the stock is currently owned by corporate insiders.
Alphabet Stock Up 2.7 %
Shares of Alphabet stock traded up $5.30 on Thursday, hitting $202.48. The company had a trading volume of 9,414,220 shares, compared to its average volume of 15,873,875. Alphabet Inc. has a 1 year low of $131.55 and a 1 year high of $203.84. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The stock has a 50 day moving average of $189.03 and a 200-day moving average of $175.35. The stock has a market capitalization of $2.48 trillion, a price-to-earnings ratio of 26.90, a P/E/G ratio of 1.27 and a beta of 0.99.
Alphabet (NASDAQ:GOOG - Get Free Report) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. During the same quarter in the prior year, the company posted $1.55 earnings per share. The firm's revenue for the quarter was up 15.1% on a year-over-year basis. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.02 earnings per share for the current year.
Alphabet Profile
(
Free Report)
Alphabet Inc offers 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 provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
Featured Articles
Before you consider Alphabet, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Alphabet wasn't on the list.
While Alphabet currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Enter your email address to learn more about using beta to protect your portfolio.
Get This Free Report
