Good Life Advisors LLC Has $1.78 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

Good Life Advisors LLC increased its stake in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 3.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,107 shares of the information services provider’s stock after acquiring an additional 622 shares during the quarter. Good Life Advisors LLC’s holdings in Alphabet were worth $1,784,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of GOOG. Vanguard Group Inc. increased its stake 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. increased its stake in Alphabet by 1,857.3% during 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 purchasing an additional 345,962,033 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Alphabet by 1,770.6% during 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 purchasing an additional 192,607,045 shares in the last quarter. State Street Corp increased its stake in Alphabet by 1,851.7% during 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 purchasing an additional 186,809,281 shares in the last quarter. Finally, Alliancebernstein L.P. increased its stake in Alphabet by 1,862.3% during 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 purchasing an additional 59,964,963 shares in the last quarter. Institutional investors own 28.69% of the company’s stock.

Alphabet Stock Performance

NASDAQ GOOG traded up $0.65 during trading on Friday, hitting $125.00. 15,602,457 shares of the company’s stock traded hands, compared to its average volume of 29,798,066. The stock has a market capitalization of $1.59 trillion, a price-to-earnings ratio of 27.53, a PEG ratio of 1.55 and a beta of 1.10. Alphabet Inc. has a 12-month low of $83.45 and a 12-month high of $127.05. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.32 and a current ratio of 2.35. The business has a 50 day moving average of $109.26 and a 200-day moving average of $99.67.

Alphabet (NASDAQ:GOOG – Get Rating) last released its quarterly earnings data on Tuesday, April 25th. The information services provider reported $1.17 EPS for the quarter, beating the consensus estimate of $1.06 by $0.11. The business had revenue of $69.79 billion for the quarter, compared to the consensus estimate of $68.80 billion. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. The company’s revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.23 earnings per share. As a group, equities research analysts anticipate that Alphabet Inc. will post 5.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have commented on GOOG. The Goldman Sachs Group set a $128.00 price target on shares of Alphabet in a research note on Friday, February 3rd. Royal Bank of Canada set a $130.00 price target on shares of Alphabet in a research note on Friday, February 3rd. Roth Capital reaffirmed a “buy” rating on shares of Alphabet in a report on Friday, February 3rd. Bank of America lifted their price objective on shares of Alphabet from $116.00 to $119.00 and gave the stock a “buy” rating in a report on Tuesday, January 31st. Finally, Robert W. Baird lifted their price objective on shares of Alphabet from $120.00 to $123.00 in a report on Wednesday, April 26th. One equities research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.80.

Insider Buying and Selling at Alphabet

In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the company’s stock in a transaction on Monday, March 13th. The shares were acquired at an average cost of $29.29 per share, with a total value of $12,155,350.00. Following the completion of the acquisition, the insider now directly owns 1,709,527 shares in the company, valued at $50,072,045.83. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, major shareholder 2019 Gp L.L.C. Gv sold 27,290 shares of the company’s stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $12.72, for a total transaction of $347,128.80. Following the sale, the insider now directly owns 10,958,925 shares in the company, valued at $139,397,526. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the firm’s stock in a transaction dated Monday, March 13th. The shares were bought at an average price of $29.29 per share, for a total transaction of $12,155,350.00. Following the completion of the transaction, 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. Over the last three months, insiders have acquired 732,217 shares of company stock valued at $21,135,371 and have sold 753,384 shares valued at $30,574,577. Insiders own 12.99% of the company’s stock.

Alphabet Profile

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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.