Wealth Alliance Advisory Group LLC Acquires 924 Shares of Alphabet Inc. (NASDAQ:GOOG)

Wealth Alliance Advisory Group LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,672 shares of the information services provider’s stock after acquiring an additional 924 shares during the quarter. Alphabet accounts for about 0.7% of Wealth Alliance Advisory Group LLC’s portfolio, making the stock its 26th largest position. Wealth Alliance Advisory Group LLC’s holdings in Alphabet were worth $3,456,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its holdings in Alphabet by 19.7% in 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 bought a new stake in shares of Alphabet in the 1st quarter valued at $1,378,708,000. Capital International Investors increased its position in shares of Alphabet by 9.3% during the first quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock worth $13,355,724,000 after buying an additional 7,470,042 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Alphabet by 51.8% in the first 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 buying an additional 2,190,795 shares during the period. Finally, Vima LLC boosted its position in Alphabet by 178,253.1% during the first quarter. Vima LLC now owns 2,001,122 shares of the information services provider’s stock valued at $304,691,000 after acquiring an additional 2,000,000 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the transaction, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at $50,765,346. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the sale, the chief executive officer now directly owns 2,106,806 shares in the company, valued at $350,361,837.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 transaction of $5,570,188.20. Following the transaction, the senior vice president now owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 220,426 shares of company stock valued at $35,993,340 in the last three months. 12.99% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

GOOG has been the subject of several research analyst reports. DA Davidson raised Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a report on Thursday, September 5th. Pivotal Research started coverage on Alphabet in a report on Tuesday, October 1st. They set a “buy” rating and a $215.00 price target on the stock. Oppenheimer lowered their price objective on shares of Alphabet from $210.00 to $185.00 and set an “outperform” rating for the company in a research note on Wednesday, September 25th. Finally, Scotiabank began coverage on shares of Alphabet in a research note on Friday, October 11th. They set a “sector outperform” rating and a $212.00 target price on the stock. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $186.90.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $165.05 on Monday. 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 firm’s 50-day simple moving average is $163.18 and its 200 day simple moving average is $169.77. The stock has a market cap of $2.04 trillion, a price-to-earnings ratio of 25.31, a PEG ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a fifty-two week low of $121.46 and a fifty-two week high of $193.31.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.04. The company had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. Alphabet’s quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.44 earnings per share. As a group, research analysts anticipate 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.