Alphabet Inc. (NASDAQ:GOOG) Stock Position Increased by Austin Private Wealth LLC


Austin Private Wealth LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGGet Rating) by 7,304.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,622 shares of the information services provider’s stock after purchasing an additional 21,330 shares during the period. Austin Private Wealth LLC’s holdings in Alphabet were worth $2,079,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of GOOG. Sumitomo Mitsui Trust Holdings Inc. grew its stake in 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 in the last quarter. Baillie Gifford & Co. boosted its stake in shares of Alphabet by 1,879.5% during the 3rd quarter. Baillie Gifford & Co. now owns 11,694,544 shares of the information services provider’s stock worth $1,124,431,000 after acquiring an additional 11,103,769 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of Alphabet by 1,899.8% during the 3rd quarter. Nordea Investment Management AB now owns 6,677,522 shares of the information services provider’s stock worth $654,531,000 after acquiring an additional 6,343,615 shares in the last quarter. Truist Financial Corp boosted its stake in shares of Alphabet by 1,861.3% during the 3rd quarter. Truist Financial Corp now owns 4,489,234 shares of the information services provider’s stock worth $431,640,000 after acquiring an additional 4,260,344 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Alphabet by 2,162.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,441,092 shares of the information services provider’s stock worth $427,010,000 after acquiring an additional 4,244,758 shares in the last quarter. 28.69% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 855 shares of the company’s stock in a transaction 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 sale, the chief accounting officer now owns 25,122 shares of the company’s stock, valued at $2,289,870.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, major shareholder 2019 Gp L.L.C. Gv acquired 800,000 shares of the company’s stock in a transaction dated Monday, October 24th. The shares were purchased at an average price of $17.00 per share, for a total transaction of $13,600,000.00. Following the completion of the acquisition, the insider now owns 11,522,248 shares of the company’s stock, valued at $195,878,216. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 855 shares of the company’s stock in a transaction dated Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total transaction of $77,933.25. Following the transaction, the chief accounting officer now owns 25,122 shares in the company, valued at approximately $2,289,870.30. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 1,461,702 shares of company stock valued at $36,999,217 and have sold 190,744 shares valued at $8,564,640. Insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on GOOG shares. UBS Group set a $115.00 price target on Alphabet in a report on Thursday, January 12th. The Goldman Sachs Group set a $135.00 price target on Alphabet in a research report on Friday, November 18th. Cowen decreased their price objective on Alphabet from $135.00 to $125.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 11th. Raymond James cut their price target on Alphabet from $143.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 26th. Finally, JPMorgan Chase & Co. set a $115.00 price target on Alphabet in a research note on Wednesday, October 26th. One equities research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $140.56.

Alphabet Trading Up 5.7 %

Alphabet stock opened at $99.28 on Friday. The stock has a 50-day simple moving average of $93.52 and a 200 day simple moving average of $102.16. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.47 and a current ratio of 2.52. The stock has a market capitalization of $1.28 trillion, a P/E ratio of 19.72, a PEG ratio of 1.63 and a beta of 1.08. Alphabet Inc. has a 52 week low of $83.45 and a 52 week high of $152.10.

Alphabet (NASDAQ:GOOGGet Rating) last issued 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 return on equity of 26.41% and a net margin of 23.75%. The company had revenue of $69.09 billion for the quarter, compared to analyst estimates of $70.67 billion. During the same quarter last year, the business earned $1.40 earnings per share. The company’s revenue was up 6.1% on a year-over-year basis. Analysts expect that Alphabet Inc. will post 4.68 earnings per share for the current year.

Alphabet Profile

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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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)



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