Alphabet Inc. $GOOGL Holdings Raised by Alliance Wealth Management Group

Alliance Wealth Management Group increased its stake in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 134.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,170 shares of the information services provider’s stock after purchasing an additional 2,390 shares during the quarter. Alliance Wealth Management Group’s holdings in Alphabet were worth $1,014,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Alphabet by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 516,559,609 shares of the information services provider’s stock worth $91,033,300,000 after purchasing an additional 6,733,278 shares during the period. State Street Corp lifted its holdings in shares of Alphabet by 1.8% in the second quarter. State Street Corp now owns 229,954,269 shares of the information services provider’s stock valued at $40,524,841,000 after purchasing an additional 4,008,374 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Alphabet by 3.1% in the second quarter. Geode Capital Management LLC now owns 141,615,284 shares of the information services provider’s stock worth $24,857,017,000 after buying an additional 4,224,497 shares during the period. Norges Bank acquired a new stake in shares of Alphabet in the second quarter worth $21,944,208,000. Finally, Invesco Ltd. grew its holdings in shares of Alphabet by 1.2% during the second quarter. Invesco Ltd. now owns 44,151,820 shares of the information services provider’s stock valued at $7,780,875,000 after buying an additional 503,306 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Activity

In other news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $283.48, for a total value of $9,213,100.00. Following the completion of the sale, the chief executive officer directly owned 2,337,119 shares in the company, valued at approximately $662,526,494.12. The trade was a 1.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 17,829 shares of the company’s stock in a transaction on Tuesday, December 30th. The stock was sold at an average price of $314.89, for a total transaction of $5,614,173.81. Following the sale, the insider directly owned 42,972 shares of the company’s stock, valued at approximately $13,531,453.08. This represents a 29.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 222,297 shares of company stock valued at $68,531,851 over the last 90 days. 11.55% of the stock is currently owned by company insiders.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $336.01 on Thursday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 1.75. The firm has a market cap of $4.05 trillion, a price-to-earnings ratio of 33.14, a P/E/G ratio of 1.84 and a beta of 1.08. The business’s 50-day simple moving average is $318.48 and its 200-day simple moving average is $263.38. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $340.49.

Alphabet (NASDAQ:GOOGLGet Free Report) last posted its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.58. The firm had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a return on equity of 35.00% and a net margin of 32.23%. As a group, equities research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on GOOGL shares. Rosenblatt Securities increased their price objective on Alphabet from $224.00 to $279.00 and gave the stock a “neutral” rating in a research note on Thursday, October 30th. Wolfe Research upped their target price on Alphabet from $380.00 to $390.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. Bank of America raised their price target on shares of Alphabet from $335.00 to $370.00 and gave the stock a “buy” rating in a report on Tuesday, January 13th. Phillip Securities raised shares of Alphabet from a “moderate buy” rating to a “strong-buy” rating in a research report on Friday, November 7th. Finally, Royal Bank Of Canada reiterated a “buy” rating on shares of Alphabet in a research report on Monday. Four investment analysts have rated the stock with a Strong Buy rating, forty-two have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $334.60.

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About Alphabet

(Free Report)

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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