Joseph P. Lucia & Associates LLC Buys 2,242 Shares of Alphabet Inc. (NASDAQ:GOOG)


Joseph P. Lucia & Associates LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGGet Rating) by 1,900.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,360 shares of the information services provider’s stock after acquiring an additional 2,242 shares during the quarter. Joseph P. Lucia & Associates LLC’s holdings in Alphabet were worth $227,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Alphabet by 1,872.0% during 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. raised its stake in Alphabet by 1,879.5% during 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 in the last quarter. Nordea Investment Management AB raised its stake in Alphabet by 1,899.8% during 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 in the last quarter. New York State Teachers Retirement System raised its stake in Alphabet by 1,835.5% during 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 in the last quarter. Finally, Truist Financial Corp raised its stake in Alphabet by 1,861.3% during 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 in the last quarter. Institutional investors own 28.69% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv bought 182,312 shares of the company’s stock in a transaction on Wednesday, November 9th. The shares were bought at an average cost of $34.60 per share, for a total transaction of $6,307,995.20. Following the acquisition, the insider now directly owns 1,294,527 shares in the company, valued at $44,790,634.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of the firm’s stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $38.64, for a total value of $4,149,665.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder 2021 Gp L.L.C. Gv purchased 182,312 shares of the stock in a transaction dated Wednesday, November 9th. The stock was purchased at an average price of $34.60 per share, for a total transaction of $6,307,995.20. Following the completion of the acquisition, the insider now directly owns 1,294,527 shares in the company, valued at approximately $44,790,634.20. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 661,702 shares of company stock worth $23,399,217 and have sold 190,464 shares worth $8,535,735. 12.99% of the stock is owned by company insiders.

Analyst Ratings Changes

GOOG has been the topic of a number of recent research reports. UBS Group set a $115.00 price target on shares of Alphabet in a research note on Thursday, January 12th. Oppenheimer decreased their price target on shares of Alphabet from $155.00 to $135.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 26th. Piper Sandler reduced their target price on shares of Alphabet from $135.00 to $122.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 26th. Societe Generale reduced their target price on shares of Alphabet from $147.00 to $132.00 and set a “buy” rating on the stock in a research note on Wednesday, November 30th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Alphabet from $135.00 to $130.00 and set a “buy” rating on the stock in a research note on Friday, October 21st. One analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $140.56.

Alphabet Stock Up 1.9 %

Shares of Alphabet stock opened at $101.21 on Tuesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.52 and a quick ratio of 2.47. Alphabet Inc. has a 1 year low of $83.45 and a 1 year high of $152.10. The firm’s 50-day moving average is $93.62 and its two-hundred day moving average is $102.10. The stock has a market cap of $1.31 trillion, a price-to-earnings ratio of 20.10, a PEG ratio of 1.74 and a beta of 1.08.

Alphabet (NASDAQ:GOOGGet Rating) last issued its earnings results 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 business had revenue of $69.09 billion for the quarter, compared to the consensus estimate of $70.67 billion. During the same quarter in the previous year, the company earned $1.40 earnings per share. The firm’s revenue was up 6.1% on a year-over-year basis. As a group, research analysts expect that Alphabet Inc. will post 4.68 earnings per share for the current fiscal 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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