Braun Bostich & Associates Inc. Acquires 10 Shares of Alphabet Inc (NASDAQ:GOOG)

Braun Bostich & Associates Inc. raised its stake in Alphabet Inc (NASDAQ:GOOG) by 9.6% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 114 shares of the information services provider’s stock after acquiring an additional 10 shares during the period. Braun Bostich & Associates Inc.’s holdings in Alphabet were worth $126,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its position in Alphabet by 1.5% in the 1st quarter. BlackRock Inc. now owns 20,264,225 shares of the information services provider’s stock valued at $23,563,444,000 after acquiring an additional 295,467 shares in the last quarter. Capital International Investors raised its stake in shares of Alphabet by 0.5% in the 4th quarter. Capital International Investors now owns 4,337,057 shares of the information services provider’s stock valued at $5,798,732,000 after purchasing an additional 22,290 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Alphabet by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 4,254,922 shares of the information services provider’s stock valued at $5,676,066,000 after purchasing an additional 91,374 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of Alphabet by 1.9% during the fourth quarter. Alliancebernstein L.P. now owns 3,662,488 shares of the information services provider’s stock worth $4,896,820,000 after buying an additional 69,103 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Alphabet by 1.1% in the 1st quarter. Bank of New York Mellon Corp now owns 3,382,100 shares of the information services provider’s stock valued at $3,932,742,000 after buying an additional 37,260 shares during the last quarter. Institutional investors own 33.61% of the company’s stock.

Shares of Alphabet stock traded down $2.26 on Friday, hitting $1,400.54. The stock had a trading volume of 61,956 shares, compared to its average volume of 1,806,928. The stock has a market cap of $960.25 billion, a price-to-earnings ratio of 28.31, a price-to-earnings-growth ratio of 2.11 and a beta of 1.06. The company has a quick ratio of 3.64, a current ratio of 3.66 and a debt-to-equity ratio of 0.08. Alphabet Inc has a twelve month low of $1,013.54 and a twelve month high of $1,532.11. The business’s 50 day moving average is $1,279.53 and its two-hundred day moving average is $1,331.21.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, April 28th. The information services provider reported $9.87 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $11.27 by ($1.40). The firm had revenue of $41.16 billion during the quarter, compared to the consensus estimate of $40.29 billion. Alphabet had a net margin of 20.71% and a return on equity of 17.43%. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter last year, the firm earned $9.50 earnings per share. As a group, equities analysts predict that Alphabet Inc will post 41.47 earnings per share for the current fiscal year.

In other Alphabet news, Director John L. Hennessy sold 60 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $1,363.61, for a total transaction of $81,816.60. Following the transaction, the director now owns 592 shares in the company, valued at approximately $807,257.12. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ann Mather sold 31 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $1,352.66, for a total transaction of $41,932.46. Following the transaction, the director now directly owns 1,119 shares in the company, valued at $1,513,626.54. The disclosure for this sale can be found here. Insiders sold 325 shares of company stock worth $409,753 over the last 90 days. 12.99% of the stock is currently owned by corporate insiders.

A number of analysts have recently issued reports on the stock. Oppenheimer lowered their price objective on shares of Alphabet from $1,465.00 to $1,445.00 and set an “outperform” rating on the stock in a report on Friday, April 17th. Piper Sandler increased their price objective on shares of Alphabet from $1,500.00 to $1,600.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Citigroup lifted their target price on Alphabet from $1,500.00 to $1,700.00 and gave the company a “positive” rating in a research report on Friday, February 7th. Mizuho increased their price target on Alphabet from $1,450.00 to $1,650.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Alphabet in a research report on Tuesday, April 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Alphabet currently has an average rating of “Buy” and a consensus target price of $1,580.52.

Alphabet Profile

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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