Smithbridge Asset Management Inc. DE Acquires 8,060 Shares of Alphabet Inc. (NASDAQ:GOOG)

by · The Markets Daily

Smithbridge Asset Management Inc. DE boosted its holdings in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 14.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 65,405 shares of the information services provider’s stock after purchasing an additional 8,060 shares during the period. Alphabet comprises 1.9% of Smithbridge Asset Management Inc. DE’s holdings, making the stock its 13th largest position. Smithbridge Asset Management Inc. DE’s holdings in Alphabet were worth $10,935,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Capital International Investors lifted its position in shares of Alphabet by 9.3% during 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 buying an additional 7,470,042 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in 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 purchasing an additional 13,876,534 shares during the last quarter. Capital World Investors boosted its position in Alphabet by 2.2% during the first quarter. Capital World Investors now owns 45,731,826 shares of the information services provider’s stock worth $6,963,128,000 after purchasing an additional 979,083 shares during the period. Capital Research Global Investors boosted its position in Alphabet by 2.0% during the first quarter. Capital Research Global Investors now owns 35,558,778 shares of the information services provider’s stock worth $5,414,179,000 after purchasing an additional 684,968 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Alphabet by 4.5% in the second quarter. Dimensional Fund Advisors LP now owns 14,657,421 shares of the information services provider’s stock worth $2,688,743,000 after purchasing an additional 636,008 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the transaction, the chief executive officer now directly owns 2,182,385 shares of the company’s stock, valued at approximately $354,310,204.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet 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 owns 2,182,385 shares in the company, valued at approximately $354,310,204.75. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction dated Thursday, August 15th. The shares were 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. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 220,426 shares of company stock worth $35,993,340 over the last 90 days. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. DA Davidson raised shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. TD Cowen raised their price target on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Oppenheimer dropped their price objective on Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a report on Wednesday, September 25th. Scotiabank assumed coverage on Alphabet in a research report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price target on the stock. Finally, UBS Group reduced their price objective on shares of Alphabet from $204.00 to $187.00 and set a “neutral” rating for the company in a research note on Monday, October 7th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $186.90.

Read Our Latest Report on GOOG

Alphabet Stock Performance

Alphabet stock opened at $168.34 on Tuesday. Alphabet Inc. has a fifty-two week low of $123.88 and a fifty-two week high of $193.31. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The stock has a market cap of $2.08 trillion, a P/E ratio of 25.82, a price-to-earnings-growth ratio of 1.27 and a beta of 1.04. The firm’s fifty day moving average price is $163.35 and its 200-day moving average price is $170.18.

About Alphabet

(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.

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