AJ Wealth Strategies LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 5.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 92,464 shares of the information services provider’s stock after purchasing an additional 5,143 shares during the period. AJ Wealth Strategies LLC’s holdings in Alphabet were worth $8,204,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Alphabet by 1,885.5% in the 3rd quarter. Vanguard Group Inc. now owns 422,194,039 shares of the information services provider’s stock valued at $40,593,957,000 after acquiring an additional 400,930,216 shares in the last quarter. BlackRock Inc. lifted its position in shares of Alphabet by 1,857.3% in the 3rd quarter. BlackRock Inc. now owns 364,589,580 shares of the information services provider’s stock valued at $35,055,286,000 after acquiring an additional 345,962,033 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Alphabet by 1,770.6% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 203,484,912 shares of the information services provider’s stock valued at $19,639,414,000 after acquiring an additional 192,607,045 shares in the last quarter. State Street Corp lifted its position in shares of Alphabet by 1,851.7% in the 3rd quarter. State Street Corp now owns 196,897,894 shares of the information services provider’s stock valued at $18,931,733,000 after acquiring an additional 186,809,281 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its position in shares of Alphabet by 1,862.3% in the 3rd quarter. Alliancebernstein L.P. now owns 63,184,850 shares of the information services provider’s stock valued at $6,075,223,000 after acquiring an additional 59,964,963 shares in the last quarter. 28.69% of the stock is owned by institutional investors and hedge funds.
Alphabet Stock Up 3.8 %
Shares of NASDAQ:GOOG opened at $108.90 on Friday. The company has a 50 day moving average of $98.63 and a 200-day moving average of $96.46. Alphabet Inc. has a one year low of $83.45 and a one year high of $137.70. The stock has a market cap of $1.39 trillion, a price-to-earnings ratio of 23.93, a P/E/G ratio of 1.45 and a beta of 1.10. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.38 and a quick ratio of 2.34.
Insider Buying and Selling
In related news, SVP Prabhakar Raghavan sold 32,379 shares of Alphabet stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $103.46, for a total transaction of $3,349,931.34. Following the transaction, the senior vice president now owns 76,580 shares of the company’s stock, valued at approximately $7,922,966.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 637 shares of Alphabet stock in a transaction that occurred on Wednesday, February 1st. The shares were sold at an average price of $99.87, for a total value of $63,617.19. Following the transaction, the chief accounting officer now owns 25,282 shares of the company’s stock, valued at $2,524,913.34. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Prabhakar Raghavan sold 32,379 shares of Alphabet stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $103.46, for a total transaction of $3,349,931.34. Following the completion of the transaction, the senior vice president now directly owns 76,580 shares in the company, valued at approximately $7,922,966.80. The disclosure for this sale can be found here. Insiders have sold 112,192 shares of company stock valued at $11,373,417 in the last 90 days. 12.99% of the stock is owned by insiders.
Analysts Set New Price Targets
Several equities research analysts recently commented on the stock. Sanford C. Bernstein set a $130.00 price target on shares of Alphabet in a research report on Monday, February 6th. Cowen dropped their price objective on shares of Alphabet from $135.00 to $125.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 11th. Raymond James upped their price objective on shares of Alphabet from $116.00 to $119.00 and gave the company an “outperform” rating in a research note on Friday, February 3rd. The Goldman Sachs Group set a $128.00 price objective on shares of Alphabet in a research note on Friday, February 3rd. Finally, JPMorgan Chase & Co. set a $118.00 price objective on shares of Alphabet in a research note on Thursday, February 9th. One equities research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $135.24.
About Alphabet
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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