Litman Gregory Wealth Management LLC Has $11.37 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

Litman Gregory Wealth Management LLC grew its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 67,979 shares of the information services provider’s stock after purchasing an additional 305 shares during the quarter. Alphabet comprises approximately 1.0% of Litman Gregory Wealth Management LLC’s investment portfolio, making the stock its 27th largest position. Litman Gregory Wealth Management LLC’s holdings in Alphabet were worth $11,365,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. grew its position 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 period. Swedbank AB acquired a new position in 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 first 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 in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Alphabet by 51.8% during 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 last quarter. Finally, Vima LLC increased its position in shares of Alphabet by 178,253.1% during the first 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 in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Down 1.4 %

Shares of NASDAQ GOOG opened at $164.48 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The stock has a market capitalization of $2.03 trillion, a PE ratio of 25.23, a P/E/G ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a one year low of $121.46 and a one year high of $193.31. The business’s fifty day moving average price is $163.28 and its 200-day moving average price is $169.92.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.85 by $0.04. The business had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company’s revenue was up 13.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.44 earnings per share. On average, equities research analysts anticipate that Alphabet Inc. will post 7.64 EPS for the current year.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total value of $3,652,875.00. Following the completion of 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the 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 sale, the chief executive officer now owns 2,182,385 shares of the company’s stock, valued at approximately $354,310,204.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet 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 transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 220,426 shares of company stock valued at $35,993,340 over the last quarter. Company insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on GOOG shares. UBS Group cut their price target on Alphabet from $204.00 to $187.00 and set a “neutral” rating for the company in a research note on Monday, October 7th. TD Cowen lifted their target price on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Scotiabank began coverage on Alphabet in a research report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price target for the company. Oppenheimer dropped their price objective on Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 25th. Finally, Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price for the company. in a research note on Friday, June 28th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average 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.