Exchange Traded Concepts LLC Buys 98 Shares of Alphabet Inc. (NASDAQ:GOOG)

Exchange Traded Concepts LLC grew its stake in Alphabet Inc. (NASDAQ:GOOG) by 1.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,609 shares of the information services provider’s stock after purchasing an additional 98 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Alphabet were worth $1,259,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. FMR LLC boosted its position in Alphabet by 5.2% during the 3rd quarter. FMR LLC now owns 114,802,133 shares of the information services provider’s stock valued at $19,193,768,000 after acquiring an additional 5,655,022 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Alphabet by 0.3% during the third quarter. Geode Capital Management LLC now owns 103,557,486 shares of the information services provider’s stock valued at $17,247,208,000 after purchasing an additional 259,213 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Alphabet by 10.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider’s stock valued at $5,573,125,000 after purchasing an additional 3,113,395 shares in the last quarter. Jennison Associates LLC grew its stake in Alphabet by 9.1% in the third quarter. Jennison Associates LLC now owns 15,424,324 shares of the information services provider’s stock worth $2,578,793,000 after purchasing an additional 1,291,274 shares during the period. Finally, Principal Financial Group Inc. lifted its position in Alphabet by 2.5% during the third quarter. Principal Financial Group Inc. now owns 11,024,276 shares of the information services provider’s stock valued at $1,843,149,000 after buying an additional 264,962 shares during the period. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Price Performance

NASDAQ GOOG opened at $193.64 on Tuesday. The stock has a market capitalization of $2.37 trillion, a price-to-earnings ratio of 25.68, a PEG ratio of 1.27 and a beta of 0.99. Alphabet Inc. has a 1-year low of $131.55 and a 1-year high of $203.84. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The business’s fifty day moving average price is $187.95 and its 200-day moving average price is $175.08.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. Alphabet’s revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.55 earnings per share. On average, equities analysts predict that Alphabet Inc. will post 8.02 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on GOOG shares. Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Oppenheimer upped their price objective on shares of Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Scotiabank lifted their target price on shares of Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a report on Friday. Canaccord Genuity Group upped their price target on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Citigroup raised their price objective on Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, twelve have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.13.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $171.42, for a total value of $234,331.14. Following the transaction, the chief accounting officer now directly owns 26,349 shares of the company’s stock, valued at approximately $4,516,745.58. This trade represents a 4.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frances Arnold sold 441 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the sale, the director now directly owns 16,490 shares of the company’s stock, valued at $2,820,779.40. This represents a 2.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 133,387 shares of company stock worth $24,368,654 in the last quarter. Company insiders own 12.99% of the company’s stock.

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.