Professional Advisory Services Inc. Raises Position in Alphabet Inc. (NASDAQ:GOOG)

Professional Advisory Services Inc. increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 18.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 232,690 shares of the information services provider’s stock after buying an additional 36,507 shares during the quarter. Alphabet accounts for about 5.1% of Professional Advisory Services Inc.’s holdings, making the stock its 2nd biggest holding. Professional Advisory Services Inc.’s holdings in Alphabet were worth $38,903,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. JPMorgan Chase & Co. lifted its stake 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. Swedbank AB acquired a new position in shares of Alphabet during the first quarter worth $1,378,708,000. Capital International Investors lifted its stake in shares of 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 acquiring an additional 7,470,042 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Alphabet by 51.8% during 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 acquiring an additional 2,190,795 shares in the last quarter. Finally, Vima LLC grew its position 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 acquiring an additional 2,000,000 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $165.05 on Friday. The company has a market capitalization of $2.04 trillion, a PE ratio of 25.31, a P/E/G ratio of 1.21 and a beta of 1.04. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a twelve month low of $121.46 and a twelve month high of $193.31. The firm has a fifty day simple moving average of $163.18 and a 200 day simple moving average of $169.58.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data 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. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $84.74 billion during the quarter, compared to analyst estimates of $84.22 billion. During the same period last year, the company posted $1.44 EPS. The business’s quarterly revenue was up 13.6% on a year-over-year basis. On average, sell-side analysts forecast that Alphabet Inc. will post 7.64 EPS for the current year.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $5,264,112. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, August 7th. The shares were 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 owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated 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 directly owns 31,334 shares of the company’s stock, valued at $5,264,112. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 220,426 shares of company stock valued at $35,993,340. 12.99% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have commented on GOOG shares. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a research report on Thursday, September 5th. DA Davidson upgraded shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. 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 price target for the company. Finally, Pivotal Research assumed coverage on shares of Alphabet in a report on Tuesday, October 1st. They set a “buy” rating and a $215.00 price target on the stock. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $186.90.

About Alphabet

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.