Gateway Wealth Partners LLC Raises Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Gateway Wealth Partners LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 16.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,747 shares of the information services provider’s stock after buying an additional 525 shares during the quarter. Gateway Wealth Partners LLC’s holdings in Alphabet were worth $714,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. FMR LLC lifted its stake in shares of Alphabet by 5.2% in 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 purchasing an additional 5,655,022 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Alphabet by 10.3% in 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 worth $5,573,125,000 after buying an additional 3,113,395 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Alphabet by 65.9% during the third quarter. Assenagon Asset Management S.A. now owns 6,294,332 shares of the information services provider’s stock worth $1,052,349,000 after buying an additional 2,500,621 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Alphabet by 182.1% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,526,055 shares of the information services provider’s stock valued at $422,331,000 after acquiring an additional 1,630,701 shares during the period. Finally, Jennison Associates LLC lifted its holdings in shares of Alphabet by 9.1% in the 3rd quarter. Jennison Associates LLC now owns 15,424,324 shares of the information services provider’s stock worth $2,578,793,000 after acquiring an additional 1,291,274 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

Shares of Alphabet stock opened at $205.60 on Friday. The company has a 50 day moving average price of $189.70 and a 200 day moving average price of $175.54. The firm has a market capitalization of $2.52 trillion, a P/E ratio of 27.27, a PEG ratio of 1.27 and a beta of 0.99. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52 week low of $131.55 and a 52 week high of $207.08.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data 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 firm had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.55 earnings per share. Sell-side analysts expect that Alphabet Inc. will post 8.02 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GOOG. Citigroup upped their price target on shares of Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Canaccord Genuity Group raised 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. Barclays upped their price objective on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. UBS Group lifted their target price on Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. upped their price target on shares of Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $209.13.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the sale, the chief accounting officer now owns 23,515 shares in the company, valued at $4,007,191.15. This represents a 5.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $194.22, for a total transaction of $291,330.00. Following the transaction, the director now directly owns 23,324 shares of the company’s stock, valued at $4,529,987.28. This represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 121,630 shares of company stock valued at $22,258,133. 12.99% of the stock is owned by company insiders.

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.