Stratos Investment Management LLC Increases Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

by · The Markets Daily

Stratos Investment Management LLC increased its stake in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 4.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 23,584 shares of the information services provider’s stock after acquiring an additional 908 shares during the quarter. Stratos Investment Management LLC’s holdings in Alphabet were worth $3,943,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings in shares of Alphabet by 19.7% during the first quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock valued at $12,815,986,000 after acquiring an additional 13,876,534 shares during the last quarter. Swedbank AB purchased a new stake in shares of Alphabet during the first quarter worth approximately $1,378,708,000. Capital International Investors raised its stake 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. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Alphabet by 51.8% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,416,150 shares of the information services provider’s stock valued at $976,923,000 after purchasing an additional 2,190,795 shares in the last quarter. Finally, Vima LLC boosted its stake in Alphabet by 178,253.1% during the 1st quarter. Vima LLC now owns 2,001,122 shares of the information services provider’s stock worth $304,691,000 after purchasing an additional 2,000,000 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the sale, the senior vice president now owns 312,210 shares of the company’s stock, valued at $50,765,346. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the sale, the senior vice president now owns 312,210 shares in the company, valued at approximately $50,765,346. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total value of $3,652,875.00. Following the transaction, the chief executive officer now directly owns 2,182,385 shares in the company, valued at approximately $354,310,204.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 220,426 shares of company stock valued at $35,993,340. Company insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

GOOG has been the subject of several research reports. TD Cowen upped their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. UBS Group reduced their price objective on Alphabet from $204.00 to $187.00 and set a “neutral” rating on the stock in a research report on Monday, October 7th. Oppenheimer dropped their target price on Alphabet from $210.00 to $185.00 and set an “outperform” rating for the company in a report on Wednesday, September 25th. Finally, Pivotal Research initiated coverage on Alphabet in a research note on Tuesday, October 1st. They issued a “buy” rating and a $215.00 target price for the company. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $186.90.

Check Out Our Latest Stock Analysis on GOOG

Alphabet Stock Performance

NASDAQ GOOG opened at $165.05 on Friday. The stock has a fifty day simple moving average of $163.18 and a 200-day simple moving average of $169.67. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock has a market cap of $2.04 trillion, a PE ratio of 25.31, a P/E/G ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a twelve month low of $121.46 and a twelve month high of $193.31.

Alphabet (NASDAQ:GOOG – Get Free Report) last announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. The company had revenue of $84.74 billion during the quarter, compared to analyst estimates of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. Alphabet’s revenue was up 13.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.44 earnings per share. Equities analysts anticipate that Alphabet Inc. will post 7.64 earnings per share for the current year.

Alphabet Profile

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

See Also

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