Alphabet Inc. (NASDAQ:GOOG) is Invesco LLC’s Largest Position

Invesco LLC lessened its holdings in Alphabet Inc. (NASDAQ:GOOG) by 4.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 115,544 shares of the information services provider’s stock after selling 4,831 shares during the period. Alphabet accounts for approximately 7.6% of Invesco LLC’s holdings, making the stock its biggest position. Invesco LLC’s holdings in Alphabet were worth $16,284,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of GOOG. Tandem Wealth Advisors LLC purchased a new position in shares of Alphabet during the third quarter valued at about $25,000. Bruce G. Allen Investments LLC purchased a new position in Alphabet in the fourth quarter worth about $26,000. HWG Holdings LP purchased a new position in Alphabet in the second quarter worth about $26,000. Equitec Proprietary Markets LLC purchased a new position in Alphabet in the fourth quarter worth about $28,000. Finally, Buck Wealth Strategies LLC purchased a new position in Alphabet in the third quarter worth about $32,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the company. Oppenheimer lifted their price target on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Susquehanna lifted their price target on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. Stifel Nicolaus lifted their price target on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday. Raymond James lifted their price target on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a research note on Thursday, April 11th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $159.86.

Alphabet Stock Up 0.6 %

Shares of NASDAQ GOOG opened at $156.88 on Thursday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. The company has a market cap of $1.95 trillion, a P/E ratio of 27.05, a PEG ratio of 1.44 and a beta of 1.05. Alphabet Inc. has a 1 year low of $103.27 and a 1 year high of $161.70. The firm has a 50-day simple moving average of $147.15 and a two-hundred day simple moving average of $141.61.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share 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 firm had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $85.28 billion. During the same quarter in the previous year, the firm posted $1.05 earnings per share. The company’s revenue was up 13.5% on a year-over-year basis. Research analysts anticipate that Alphabet Inc. will post 6.78 earnings per share for the current year.

Insider Activity

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the completion of the sale, the chief executive officer now owns 2,377,691 shares of the company’s stock, valued at $347,832,416.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the transaction, the director now directly owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the transaction, the chief executive officer now directly owns 2,377,691 shares in the company, valued at $347,832,416.39. The disclosure for this sale can be found here. Over the last quarter, insiders sold 251,339 shares of company stock valued at $36,377,482. Corporate insiders own 12.99% of the company’s stock.

About Alphabet

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.