Good Life Advisors LLC Increases Position in Alphabet Inc. (NASDAQ:GOOG)

Good Life Advisors LLC grew its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 56.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 415 shares of the information services provider’s stock after acquiring an additional 149 shares during the quarter. Good Life Advisors LLC’s holdings in Alphabet were worth $343,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Adviser Investments LLC acquired a new stake in shares of Alphabet in the first quarter valued at about $1,276,000. Carret Asset Management LLC boosted its holdings in Alphabet by 1.5% in the first quarter. Carret Asset Management LLC now owns 9,982 shares of the information services provider’s stock valued at $8,281,000 after purchasing an additional 145 shares during the last quarter. Farmers & Merchants Investments Inc. boosted its holdings in Alphabet by 0.3% in the first quarter. Farmers & Merchants Investments Inc. now owns 5,464 shares of the information services provider’s stock valued at $4,533,000 after purchasing an additional 18 shares during the last quarter. Hartford Investment Management Co. boosted its holdings in Alphabet by 6.1% in the first quarter. Hartford Investment Management Co. now owns 79,529 shares of the information services provider’s stock valued at $65,974,000 after purchasing an additional 4,602 shares during the last quarter. Finally, Financial Consulate Inc. purchased a new position in Alphabet in the first quarter valued at about $215,000. Institutional investors own 34.52% of the company’s stock.

A number of research analysts recently commented on the company. Morgan Stanley reissued a “buy” rating on shares of Alphabet in a report on Monday, May 29th. J P Morgan Chase & Co reaffirmed a “buy” rating on shares of Alphabet in a report on Tuesday, July 25th. Canaccord Genuity reaffirmed a “hold” rating and set a $1,000.00 target price on shares of Alphabet in a report on Thursday, July 27th. SunTrust Banks, Inc. initiated coverage on Alphabet in a report on Wednesday, August 16th. They set a “buy” rating and a $1,100.00 target price on the stock. Finally, UBS AG reaffirmed a “buy” rating and set a $1,080.00 target price on shares of Alphabet in a report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and forty-one have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $1,031.14.

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Alphabet Inc. (NASDAQ GOOG) opened at 928.53 on Friday. The company has a market capitalization of $643.36 billion, a price-to-earnings ratio of 33.65 and a beta of 0.94. Alphabet Inc. has a 52 week low of $727.54 and a 52 week high of $988.25. The company’s 50-day moving average price is $924.03 and its 200 day moving average price is $909.94.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 EPS for the quarter, beating the Zacks’ consensus estimate of $4.43 by $0.58. The company had revenue of $26.01 billion for the quarter, compared to analysts’ expectations of $25.61 billion. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. Alphabet’s revenue was up 21.0% compared to the same quarter last year. During the same period in the prior year, the company posted $8.42 EPS. On average, analysts predict that Alphabet Inc. will post $30.59 EPS for the current year.

In other news, SVP David C. Drummond sold 1,496 shares of the stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $939.76, for a total value of $1,405,880.96. Following the transaction, the senior vice president now owns 52 shares of the company’s stock, valued at approximately $48,867.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ann Mather sold 629 shares of the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $932.28, for a total transaction of $586,404.12. Following the completion of the transaction, the director now directly owns 1,781 shares in the company, valued at approximately $1,660,390.68. The disclosure for this sale can be found here. Insiders have sold a total of 42,680 shares of company stock worth $39,700,363 over the last 90 days. 13.92% of the stock is currently owned by corporate insiders.

Alphabet Profile

Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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