BIP Wealth LLC Has $896,000 Holdings in Alphabet Inc. (NASDAQ:GOOG)

BIP Wealth LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 1.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,356 shares of the information services provider’s stock after acquiring an additional 112 shares during the quarter. BIP Wealth LLC’s holdings in Alphabet were worth $896,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of GOOG. FMR LLC raised its position in shares of Alphabet by 3.8% during the 3rd quarter. FMR LLC now owns 120,234,117 shares of the information services provider’s stock valued at $15,852,868,000 after acquiring an additional 4,348,188 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Alphabet by 11.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock valued at $12,649,838,000 after acquiring an additional 9,703,425 shares during the last quarter. Northern Trust Corp raised its position in shares of Alphabet by 2.3% during the 3rd quarter. Northern Trust Corp now owns 57,269,184 shares of the information services provider’s stock valued at $7,550,942,000 after acquiring an additional 1,275,060 shares during the last quarter. Sanders Capital LLC raised its position in shares of Alphabet by 0.3% during the 3rd quarter. Sanders Capital LLC now owns 27,744,572 shares of the information services provider’s stock valued at $3,658,122,000 after acquiring an additional 92,741 shares during the last quarter. Finally, Jennison Associates LLC raised its position in shares of Alphabet by 2.0% during the 3rd quarter. Jennison Associates LLC now owns 19,822,203 shares of the information services provider’s stock valued at $2,613,557,000 after acquiring an additional 390,118 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Performance

GOOG stock traded up $14.42 during mid-day trading on Friday, hitting $172.37. 22,014,553 shares of the company were exchanged, compared to its average volume of 22,186,350. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 1-year low of $104.42 and a 1-year high of $176.42. The business has a 50 day simple moving average of $148.48 and a 200-day simple moving average of $142.51. The stock has a market capitalization of $2.14 trillion, a PE ratio of 29.72, a price-to-earnings-growth ratio of 1.48 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The company had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $78.75 billion. During the same period in the previous year, the business earned $1.17 earnings per share. The firm’s quarterly revenue was up 15.4% on a year-over-year basis. On average, equities analysts forecast that Alphabet Inc. will post 6.79 earnings per share for the current year.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total transaction of $94,769.40. Following the sale, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total value of $2,985,750.00. Following the sale, the chief executive officer now owns 2,332,691 shares of the company’s stock, valued at $309,548,095.70. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 660 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of the sale, the chief accounting officer now directly owns 27,920 shares in the company, valued at approximately $4,009,032.80. The disclosure for this sale can be found here. Insiders sold a total of 251,339 shares of company stock worth $36,377,482 over the last three months. Corporate insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Morgan Stanley reiterated an “overweight” rating and set a $165.00 target price on shares of Alphabet in a research report on Thursday, April 11th. Oppenheimer upped their price objective on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Stifel Nicolaus upped their price objective on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Raymond James upped their price objective on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Finally, Susquehanna upped their target price on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research note on Wednesday, January 31st. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $159.86.

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, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.