IFP Advisors Inc boosted its position in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 2.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 226,093 shares of the information services provider’s stock after purchasing an additional 5,477 shares during the period. Alphabet comprises 4.4% of IFP Advisors Inc’s investment portfolio, making the stock its biggest position. IFP Advisors Inc’s holdings in Alphabet were worth $165,099,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in GOOGL. Vanguard Group Inc. boosted its stake in Alphabet by 1,919.4% in the third quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock valued at $45,628,484,000 after acquiring an additional 453,413,389 shares during the last quarter. State Street Corp lifted its stake in shares of Alphabet by 1,900.6% during the 3rd quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock valued at $20,770,809,000 after buying an additional 206,300,042 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Alphabet by 1,759.2% during the 3rd 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 buying an additional 109,870,525 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Alphabet by 1,955.0% during 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 in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of 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 valued at $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 Stock Performance
NASDAQ GOOGL opened at $105.57 on Monday. The company has a market cap of $1.34 trillion, a P/E ratio of 23.51, a P/E/G ratio of 1.34 and a beta of 1.10. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.35 and a quick ratio of 2.32. The stock has a 50-day moving average of $101.61 and a two-hundred day moving average of $96.85. Alphabet Inc. has a 1-year low of $83.34 and a 1-year high of $122.43.
Insider Buying and Selling
In related news, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the business’s stock in a transaction that occurred on Monday, March 13th. The shares were purchased at an average cost of $29.29 per share, for a total transaction of $12,155,350.00. Following the purchase, the insider now directly owns 1,709,527 shares of the company’s stock, valued at $50,072,045.83. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Alphabet news, Director Ann Mather sold 380 shares of the firm’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $90.05, for a total transaction of $34,219.00. Following the transaction, the director now directly owns 11,300 shares of the company’s stock, valued at approximately $1,017,565. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the stock in a transaction dated Monday, March 13th. The stock was purchased at an average cost of $29.29 per share, for a total transaction of $12,155,350.00. Following the acquisition, the insider now owns 1,709,527 shares of the company’s stock, valued at $50,072,045.83. The disclosure for this purchase can be found here. Insiders have sold 138,039 shares of company stock worth $14,153,031 in the last ninety days. 11.44% of the stock is owned by corporate insiders.
Analyst Ratings Changes
GOOGL has been the topic of several recent analyst reports. Wells Fargo & Company increased their target price on shares of Alphabet from $145.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, February 3rd. Barclays increased their price target on shares of Alphabet from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, February 3rd. Truist Financial increased their price target on shares of Alphabet from $120.00 to $122.00 and gave the stock a “buy” rating in a report on Wednesday, April 26th. Royal Bank of Canada increased their target price on shares of Alphabet from $130.00 to $132.00 in a report on Wednesday, April 26th. Finally, Loop Capital raised their price target on shares of Alphabet from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, February 8th. Three research analysts have rated the stock with a hold rating, thirty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $130.06.
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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