18,870 Shares in Alphabet Inc. (NASDAQ:GOOG) Purchased by Highline Wealth Partners LLC

Highline Wealth Partners LLC purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOG) during the third quarter, Holdings Channel reports. The firm purchased 18,870 shares of the information services provider’s stock, valued at approximately $3,155,000. Alphabet comprises about 1.1% of Highline Wealth Partners LLC’s holdings, making the stock its 24th largest holding.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital International Investors boosted its holdings in Alphabet by 9.3% in the 1st quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock valued at $13,355,724,000 after purchasing an additional 7,470,042 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Alphabet by 19.7% in the 1st quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock valued at $12,815,986,000 after purchasing an additional 13,876,534 shares during the last quarter. Capital World Investors boosted its holdings in Alphabet by 2.2% in the 1st quarter. Capital World Investors now owns 45,731,826 shares of the information services provider’s stock valued at $6,963,128,000 after purchasing an additional 979,083 shares during the last quarter. Capital Research Global Investors boosted its holdings in Alphabet by 2.0% in the 1st quarter. Capital Research Global Investors now owns 35,558,778 shares of the information services provider’s stock valued at $5,414,179,000 after purchasing an additional 684,968 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Alphabet by 4.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 14,657,421 shares of the information services provider’s stock valued at $2,688,743,000 after purchasing an additional 636,008 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GOOG has been the topic of several recent analyst reports. Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. UBS Group upped their target price on shares of Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research note on Wednesday. Jefferies Financial Group upped their target price on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a research note on Thursday, September 5th. Finally, DA Davidson raised shares of Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $200.56.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the sale, the chief accounting officer now owns 31,334 shares in the company, valued at $5,264,112. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the sale, the chief accounting officer now owns 31,334 shares in the company, valued at approximately $5,264,112. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the sale, the senior vice president now owns 312,210 shares of the company’s stock, valued at $50,765,346. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 220,426 shares of company stock worth $35,993,340 in the last 90 days. Company insiders own 12.99% of the company’s stock.

Alphabet Trading Up 2.9 %

NASDAQ GOOG opened at $176.14 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The firm’s fifty day moving average price is $163.56 and its 200 day moving average price is $170.30. The company has a market capitalization of $2.18 trillion, a price-to-earnings ratio of 27.02, a price-to-earnings-growth ratio of 1.27 and a beta of 1.04. Alphabet Inc. has a 12 month low of $123.93 and a 12 month high of $193.31.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company’s revenue was up 15.1% on a year-over-year basis. During the same period last year, the firm posted $1.55 EPS. On average, sell-side analysts expect that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet Profile

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.