Miracle Mile Advisors LLC Grows Holdings in Alphabet Inc. (NASDAQ:GOOG)

Miracle Mile Advisors LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) by 48.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 181,526 shares of the information services provider’s stock after buying an additional 59,500 shares during the period. Miracle Mile Advisors LLC’s holdings in Alphabet were worth $25,583,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC increased its stake in Alphabet by 61,587.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 130,046,253 shares of the information services provider’s stock worth $11,539,004,000 after buying an additional 129,835,437 shares during the period. FMR LLC grew its holdings in Alphabet by 3.8% during the 3rd quarter. FMR LLC now owns 120,234,117 shares of the information services provider’s stock worth $15,852,868,000 after acquiring an additional 4,348,188 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Alphabet by 11.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock worth $12,649,838,000 after acquiring an additional 9,703,425 shares in the last quarter. Morgan Stanley grew its holdings in Alphabet by 37.6% during the 4th quarter. Morgan Stanley now owns 71,779,112 shares of the information services provider’s stock worth $6,368,961,000 after acquiring an additional 19,612,974 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in Alphabet by 2.3% during the 3rd quarter. Northern Trust Corp now owns 57,269,184 shares of the information services provider’s stock worth $7,550,942,000 after acquiring an additional 1,275,060 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Frances Arnold sold 230 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the transaction, the director now directly owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, Director Frances Arnold sold 230 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the transaction, the director now directly owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Kent Walker sold 12,084 shares of the business’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $151.19, for a total transaction of $1,826,979.96. Following the transaction, the insider now directly owns 48,717 shares of the company’s stock, valued at $7,365,523.23. The disclosure for this sale can be found here. Insiders sold 246,799 shares of company stock valued at $34,971,139 in the last ninety days. Company insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

GOOG has been the subject of several recent analyst reports. Susquehanna raised their price objective on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Raymond James raised their price objective on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $146.33.

Get Our Latest Research Report on GOOG

Alphabet Trading Up 2.8 %

NASDAQ GOOG opened at $156.50 on Tuesday. Alphabet Inc. has a one year low of $102.38 and a one year high of $157.00. The company has a 50-day simple moving average of $144.98 and a 200-day simple moving average of $139.62. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. The firm has a market capitalization of $1.95 trillion, a PE ratio of 26.98, a price-to-earnings-growth ratio of 1.41 and a beta of 1.05.

Alphabet (NASDAQ:GOOGGet Free Report) last posted its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The business had revenue of $86.31 billion during the quarter, compared to analyst estimates of $85.28 billion. During the same period in the previous year, the business posted $1.05 EPS. The company’s quarterly revenue was up 13.5% on a year-over-year basis. On average, equities analysts forecast that Alphabet Inc. will post 6.77 earnings per share for the current year.

About Alphabet

(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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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