New Century Financial Group LLC Acquires 6,160 Shares of Alphabet Inc. (NASDAQ:GOOGL)

New Century Financial Group LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 43.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,348 shares of the information services provider’s stock after acquiring an additional 6,160 shares during the quarter. Alphabet comprises 1.7% of New Century Financial Group LLC’s portfolio, making the stock its 9th biggest holding. New Century Financial Group LLC’s holdings in Alphabet were worth $3,902,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. State Street Corp grew its holdings in Alphabet by 0.3% in the 3rd quarter. State Street Corp now owns 222,555,548 shares of the information services provider’s stock valued at $36,910,838,000 after buying an additional 743,369 shares in the last quarter. Geode Capital Management LLC grew its holdings in Alphabet by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock valued at $22,154,651,000 after buying an additional 2,626,431 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Alphabet by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock valued at $10,559,240,000 after buying an additional 4,567,275 shares in the last quarter. Fisher Asset Management LLC grew its holdings in Alphabet by 2.5% in the 3rd quarter. Fisher Asset Management LLC now owns 49,857,900 shares of the information services provider’s stock valued at $8,268,933,000 after buying an additional 1,237,385 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Alphabet by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 37,233,079 shares of the information services provider’s stock valued at $6,175,106,000 after acquiring an additional 523,416 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Trading Up 1.8 %

NASDAQ GOOGL opened at $195.30 on Wednesday. The business has a 50 day simple moving average of $186.79 and a 200 day simple moving average of $173.61. Alphabet Inc. has a one year low of $130.66 and a one year high of $202.29. The stock has a market capitalization of $2.39 trillion, a P/E ratio of 25.90, a P/E/G ratio of 1.27 and a beta of 0.98. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. During the same quarter last year, the firm posted $1.55 earnings per share. Research analysts expect that Alphabet Inc. will post 8.02 earnings per share for the current year.

Insider Buying and Selling

In other Alphabet news, Director Frances Arnold sold 441 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the sale, the director now owns 16,490 shares of the company’s stock, valued at approximately $2,820,779.40. This trade represents a 2.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,834 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $194.32, for a total value of $550,702.88. Following the completion of the sale, the chief accounting officer now directly owns 17,847 shares of the company’s stock, valued at $3,468,029.04. This trade represents a 13.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 122,887 shares of company stock valued at $22,470,464 over the last 90 days. Company insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of a number of recent analyst reports. China Renaissance upgraded Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. KeyCorp upped their target price on Alphabet from $215.00 to $225.00 and gave the company an “overweight” rating in a research report on Friday, January 10th. Wedbush upped their target price on Alphabet from $210.00 to $220.00 and gave the company an “outperform” rating in a research report on Monday, January 6th. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Finally, Royal Bank of Canada upped their target price on Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Nine equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $209.82.

Alphabet Company 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.