Invst LLC Acquires 504 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Invst LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 2.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 18,473 shares of the information services provider’s stock after buying an additional 504 shares during the quarter. Invst LLC’s holdings in Alphabet were worth $1,808,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in GOOGL. Vanguard Group Inc. lifted its holdings in Alphabet by 1,919.4% during 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 purchasing an additional 453,413,389 shares in the last quarter. State Street Corp lifted its holdings in shares of Alphabet by 1,900.6% in 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 buying an additional 206,300,042 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of 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 worth $11,106,502,000 after buying an additional 109,870,525 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Alphabet by 1,955.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 61,134,061 shares of the information services provider’s stock worth $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 holdings in shares of Alphabet by 1,896.9% in the third 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. Hedge funds and other institutional investors own 34.06% of the company’s stock.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 855 shares of the stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total value of $77,933.25. Following the completion of the transaction, the chief accounting officer now directly owns 25,122 shares of the company’s stock, valued at approximately $2,289,870.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Amie Thuener O’toole sold 855 shares of the stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total value of $77,933.25. Following the transaction, the chief accounting officer now owns 25,122 shares in the company, valued at approximately $2,289,870.30. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Ann Mather sold 380 shares of the stock in a transaction that occurred on Tuesday, December 27th. The stock was sold at an average price of $89.24, for a total transaction of $33,911.20. Following the completion of the transaction, the director now owns 11,300 shares in the company, valued at approximately $1,008,412. The disclosure for this sale can be found here. Insiders sold 74,245 shares of company stock valued at $7,174,078 in the last three months. 11.44% of the stock is owned by insiders.

Alphabet Stock Performance

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GOOGL stock opened at $100.32 on Friday. The firm has a market cap of $1.28 trillion, a price-to-earnings ratio of 22.04, a PEG ratio of 1.26 and a beta of 1.09. The firm has a 50-day simple moving average of $94.79 and a two-hundred day simple moving average of $96.32. Alphabet Inc. has a one year low of $83.34 and a one year high of $143.79. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.34 and a current ratio of 2.38.

Alphabet (NASDAQ:GOOGL – Get Rating) last released its quarterly earnings results on Thursday, February 2nd. The information services provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.09). The firm had revenue of $76.05 billion for the quarter, compared to analysts’ expectations of $63.15 billion. Alphabet had a net margin of 21.20% and a return on equity of 23.54%. During the same period in the previous year, the company posted $1.53 earnings per share. On average, equities analysts forecast that Alphabet Inc. will post 5.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GOOGL. New Street Research began coverage on shares of Alphabet in a report on Wednesday, January 4th. They issued a “buy” rating and a $118.00 target price on the stock. Wells Fargo & Company boosted their target price on shares of Alphabet from $145.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday, February 3rd. Jefferies Financial Group reissued a “buy” rating and issued a $130.00 target price on shares of Alphabet in a report on Friday, February 10th. Roth Capital restated a “buy” rating on shares of Alphabet in a research report on Friday, February 3rd. Finally, Barclays boosted their price target on shares of Alphabet from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, February 3rd. Five analysts have rated the stock with a hold rating, thirty-three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $132.32.

About Alphabet

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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.