Aire Advisors LLC Has $1.11 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

Aire Advisors LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOGGet Rating) by 1,705.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,537 shares of the information services provider’s stock after buying an additional 10,898 shares during the period. Aire Advisors LLC’s holdings in Alphabet were worth $1,109,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Alphabet by 1,872.0% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 18,292,839 shares of the information services provider’s stock valued at $1,758,856,000 after purchasing an additional 17,365,189 shares during the last quarter. Baillie Gifford & Co. increased its holdings in shares of Alphabet by 1,879.5% in the third quarter. Baillie Gifford & Co. now owns 11,694,544 shares of the information services provider’s stock valued at $1,124,431,000 after purchasing an additional 11,103,769 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of Alphabet by 1,899.8% in the third quarter. Nordea Investment Management AB now owns 6,677,522 shares of the information services provider’s stock valued at $654,531,000 after purchasing an additional 6,343,615 shares during the last quarter. New York State Teachers Retirement System increased its holdings in shares of Alphabet by 1,835.5% in the third quarter. New York State Teachers Retirement System now owns 6,444,438 shares of the information services provider’s stock valued at $619,633,000 after purchasing an additional 6,111,475 shares during the last quarter. Finally, Truist Financial Corp increased its holdings in shares of Alphabet by 1,861.3% in the third quarter. Truist Financial Corp now owns 4,489,234 shares of the information services provider’s stock valued at $431,640,000 after purchasing an additional 4,260,344 shares during the last quarter. 28.69% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

Alphabet stock opened at $99.21 on Wednesday. The business has a 50 day moving average of $93.63 and a 200-day moving average of $102.00. Alphabet Inc. has a 1 year low of $83.45 and a 1 year high of $152.10. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.52 and a quick ratio of 2.47. The company has a market capitalization of $1.28 trillion, a P/E ratio of 19.70, a P/E/G ratio of 1.74 and a beta of 1.08.

Alphabet (NASDAQ:GOOGGet Rating) last released its quarterly earnings data on Tuesday, October 25th. The information services provider reported $1.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.25 by ($0.19). Alphabet had a net margin of 23.75% and a return on equity of 26.41%. The firm had revenue of $69.09 billion during the quarter, compared to analyst estimates of $70.67 billion. During the same period in the prior year, the company earned $1.40 EPS. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, equities research analysts predict that Alphabet Inc. will post 4.68 earnings per share for the current year.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 855 shares of the stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total transaction of $77,933.25. Following the completion of the sale, the chief accounting officer now owns 25,122 shares of the company’s stock, valued at approximately $2,289,870.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 855 shares of the stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total transaction of $77,933.25. Following the completion of the sale, the chief accounting officer now owns 25,122 shares of the company’s stock, valued at approximately $2,289,870.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Prabhakar Raghavan sold 22,203 shares of the stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the sale, the senior vice president now directly owns 76,579 shares of the company’s stock, valued at approximately $6,872,965.25. The disclosure for this sale can be found here. In the last 90 days, insiders bought 661,702 shares of company stock valued at $23,399,217 and sold 190,464 shares valued at $8,535,735. Insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on GOOG shares. Raymond James decreased their price objective on shares of Alphabet from $120.00 to $116.00 and set an “outperform” rating on the stock in a report on Tuesday. Societe Generale reduced their target price on shares of Alphabet from $147.00 to $132.00 and set a “buy” rating for the company in a research report on Wednesday, November 30th. The Goldman Sachs Group set a $135.00 target price on shares of Alphabet in a research report on Friday, November 18th. Cowen reduced their target price on shares of Alphabet from $150.00 to $135.00 and set an “outperform” rating for the company in a research report on Wednesday, October 26th. Finally, UBS Group set a $115.00 target price on shares of Alphabet in a research report on Thursday, January 12th. One equities research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $140.40.

About Alphabet

(Get Rating)

Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

Read More

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.