Alphabet Inc. (NASDAQ:GOOG) Position Increased by United Asset Strategies Inc.

United Asset Strategies Inc. raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) by 6.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,695 shares of the information services provider’s stock after purchasing an additional 925 shares during the period. United Asset Strategies Inc.’s holdings in Alphabet were worth $1,938,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOG. Moneta Group Investment Advisors LLC grew its stake in shares of Alphabet by 61,587.1% in 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 acquiring an additional 129,835,437 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Alphabet by 0.9% in the second quarter. Geode Capital Management LLC now owns 98,217,816 shares of the information services provider’s stock worth $11,846,230,000 after acquiring an additional 882,830 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Alphabet by 20.6% in the second quarter. JPMorgan Chase & Co. now owns 86,237,704 shares of the information services provider’s stock worth $10,432,175,000 after acquiring an additional 14,746,989 shares during the last quarter. Morgan Stanley grew its stake in shares of Alphabet by 37.6% in the fourth quarter. Morgan Stanley now owns 71,779,112 shares of the information services provider’s stock worth $6,368,961,000 after acquiring an additional 19,612,974 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Alphabet by 1,807.4% in the third quarter. Bank of New York Mellon Corp now owns 57,069,444 shares of the information services provider’s stock worth $5,487,226,000 after acquiring an additional 54,077,519 shares during the last quarter. Institutional investors and hedge funds own 27.13% of the company’s stock.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $132.92, for a total value of $26,584.00. Following the completion of the sale, the director now directly owns 7,184 shares in the company, valued at $954,897.28. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total transaction of $35,433.80. Following the transaction, the director now owns 15,104 shares in the company, valued at approximately $2,326,922.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $132.92, for a total value of $26,584.00. Following the transaction, the director now owns 7,184 shares in the company, valued at approximately $954,897.28. The disclosure for this sale can be found here. Insiders sold a total of 189,674 shares of company stock worth $25,994,026 over the last three months. 12.99% of the stock is currently owned by company insiders.

Alphabet Stock Performance

Shares of NASDAQ:GOOG opened at $143.54 on Friday. Alphabet Inc. has a twelve month low of $88.86 and a twelve month high of $155.20. The firm has a market cap of $1.80 trillion, a PE ratio of 24.75, a price-to-earnings-growth ratio of 1.33 and a beta of 1.06. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.01 and a current ratio of 2.10. The business has a fifty day moving average of $141.06 and a 200-day moving average of $135.91.

Alphabet (NASDAQ:GOOGGet Free Report) last announced its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The company had revenue of $86.31 billion during the quarter, compared to analyst estimates of $85.28 billion. During the same period last year, the company posted $1.05 earnings per share. The firm’s quarterly revenue was up 13.5% compared to the same quarter last year. On average, equities research analysts predict that Alphabet Inc. will post 6.73 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GOOG. Oppenheimer restated an “outperform” rating and issued a $160.00 price objective on shares of Alphabet in a research note on Wednesday, October 25th. Raymond James raised their price objective on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Finally, Susquehanna raised their price objective on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research note on Wednesday. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $135.77.

Read Our Latest Research Report on GOOG

About Alphabet

(Free Report)

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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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