Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 1.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,618,012 shares of the information services provider’s stock after purchasing an additional 18,963 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Alphabet were worth $168,273,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Alphabet by 1,885.5% in the third quarter. Vanguard Group Inc. now owns 422,194,039 shares of the information services provider’s stock worth $40,593,957,000 after acquiring an additional 400,930,216 shares during the period. BlackRock Inc. raised its position in shares of Alphabet by 1,857.3% in the third quarter. BlackRock Inc. now owns 364,589,580 shares of the information services provider’s stock worth $35,055,286,000 after acquiring an additional 345,962,033 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Alphabet by 1,770.6% in the third quarter. Price T Rowe Associates Inc. MD now owns 203,484,912 shares of the information services provider’s stock worth $19,639,414,000 after acquiring an additional 192,607,045 shares during the period. State Street Corp raised its position in shares of Alphabet by 1,851.7% in the third quarter. State Street Corp now owns 196,897,894 shares of the information services provider’s stock worth $18,931,733,000 after acquiring an additional 186,809,281 shares during the period. Finally, Moneta Group Investment Advisors LLC increased its stake in shares of Alphabet by 61,587.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 130,046,253 shares of the information services provider’s stock worth $11,539,004,000 after purchasing an additional 129,835,437 shares in the last quarter. 27.17% of the stock is currently owned by institutional investors and hedge funds.
Alphabet Stock Performance
NASDAQ:GOOG opened at $119.01 on Wednesday. The firm has a market capitalization of $1.51 trillion, a price-to-earnings ratio of 26.51, a PEG ratio of 1.57 and a beta of 1.09. Alphabet Inc. has a 1-year low of $83.45 and a 1-year high of $129.55. 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 company’s 50-day moving average is $117.86 and its two-hundred day moving average is $104.17.
Analysts Set New Price Targets
A number of analysts have recently commented on GOOG shares. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Alphabet from $120.00 to $125.00 in a research note on Wednesday, April 26th. Robert W. Baird boosted their target price on shares of Alphabet from $120.00 to $123.00 in a research note on Wednesday, April 26th. Raymond James boosted their target price on shares of Alphabet from $119.00 to $130.00 in a research note on Wednesday, April 26th. Oppenheimer cut their target price on shares of Alphabet from $155.00 to $135.00 in a research note on Monday, April 24th. Finally, UBS Group boosted their target price on shares of Alphabet from $120.00 to $123.00 and gave the stock a “buy” rating in a research note on Thursday, April 6th. One investment analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $132.80.
Insider Buying and Selling at Alphabet
In other Alphabet news, Director John L. Hennessy sold 200 shares of the stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $125.65, for a total value of $25,130.00. Following the sale, the director now directly owns 5,740 shares of the company’s stock, valued at approximately $721,231. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Alphabet news, Director John L. Hennessy sold 200 shares of the stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $125.65, for a total value of $25,130.00. Following the sale, the director now directly owns 5,740 shares of the company’s stock, valued at approximately $721,231. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 37,405 shares of the stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $15.06, for a total transaction of $563,319.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 848,358 shares of company stock valued at $27,417,164. Insiders own 12.99% of the company’s stock.
About Alphabet
Alphabet Inc offers 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 provides products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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