Merit Financial Group LLC boosted its stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 25.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 89,024 shares of the information services provider’s stock after acquiring an additional 17,946 shares during the quarter. Merit Financial Group LLC’s holdings in Alphabet were worth $7,855,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in GOOGL. Vanguard Group Inc. grew its stake in shares of Alphabet by 1,919.4% during the 3rd quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock worth $45,628,484,000 after acquiring an additional 453,413,389 shares in the last quarter. State Street Corp boosted its holdings in Alphabet by 1,900.6% during the third quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock worth $20,770,809,000 after purchasing an additional 206,300,042 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Alphabet by 1,759.2% in the third quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock valued at $11,106,502,000 after purchasing an additional 109,870,525 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Alphabet by 1,955.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 61,134,061 shares of the information services provider’s stock valued at $5,847,474,000 after buying an additional 58,159,150 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Alphabet by 1,896.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 58,060,946 shares of the information services provider’s stock worth $5,553,529,000 after buying an additional 55,153,448 shares in the last quarter. 34.06% of the stock is owned by institutional investors.
Alphabet Price Performance
GOOGL stock opened at $105.44 on Friday. The company’s 50-day moving average price is $96.46 and its two-hundred day moving average price is $96.11. Alphabet Inc. has a 12 month low of $83.34 and a 12 month high of $143.79. The company has a quick ratio of 2.34, a current ratio of 2.38 and a debt-to-equity ratio of 0.06. The firm has a market cap of $1.35 trillion, a P/E ratio of 23.17, a P/E/G ratio of 1.45 and a beta of 1.09.
Wall Street Analysts Forecast Growth
GOOGL has been the topic of a number of recent research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $115.00 target price on shares of Alphabet in a research report on Wednesday, March 8th. Wells Fargo & Company boosted their price target on Alphabet from $145.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, February 3rd. KeyCorp cut their price objective on Alphabet from $118.00 to $117.00 and set an “overweight” rating for the company in a report on Monday, January 30th. Roth Capital restated a “buy” rating on shares of Alphabet in a report on Friday, February 3rd. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $130.00 price target on shares of Alphabet in a research note on Friday, February 10th. Four research analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.83.
Insider Transactions at Alphabet
In other Alphabet news, Director Kavitark Ram Shriram sold 37,500 shares of Alphabet stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $100.00, for a total value of $3,750,000.00. Following the transaction, the director now owns 144,740 shares in the company, valued at $14,474,000. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Kavitark Ram Shriram sold 37,500 shares of the stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $100.00, for a total value of $3,750,000.00. Following the completion of the transaction, the director now owns 144,740 shares of the company’s stock, valued at approximately $14,474,000. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the firm’s stock in a transaction on Monday, March 13th. The shares were bought at an average cost of $29.29 per share, for a total transaction of $12,155,350.00. Following the purchase, the insider now owns 1,709,527 shares of the company’s stock, valued at approximately $50,072,045.83. The disclosure for this purchase can be found here. In the last quarter, insiders sold 74,245 shares of company stock valued at $7,174,078. Corporate insiders own 11.44% of the company’s stock.
Alphabet Profile
Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.
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