Principle Wealth Partners LLC Buys 303 Shares of Alphabet Inc (NASDAQ:GOOG)

Principle Wealth Partners LLC lifted its stake in Alphabet Inc (NASDAQ:GOOG) by 11.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,845 shares of the information services provider’s stock after purchasing an additional 303 shares during the period. Alphabet accounts for approximately 1.2% of Principle Wealth Partners LLC’s holdings, making the stock its 19th largest holding. Principle Wealth Partners LLC’s holdings in Alphabet were worth $3,468,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of GOOG. Vanguard Group Inc. raised its stake in shares of Alphabet by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 22,708,312 shares of the information services provider’s stock valued at $24,545,641,000 after purchasing an additional 259,979 shares during the period. BlackRock Inc. raised its stake in shares of Alphabet by 3.1% in the 2nd quarter. BlackRock Inc. now owns 20,205,186 shares of the information services provider’s stock valued at $21,839,988,000 after purchasing an additional 612,804 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Alphabet by 6.2% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 11,480,467 shares of the information services provider’s stock valued at $12,409,352,000 after purchasing an additional 674,924 shares during the period. Northern Trust Corp raised its stake in shares of Alphabet by 0.8% in the 2nd quarter. Northern Trust Corp now owns 4,199,889 shares of the information services provider’s stock valued at $4,539,702,000 after purchasing an additional 31,873 shares during the period. Finally, Invesco Ltd. raised its stake in shares of Alphabet by 5.7% in the 2nd quarter. Invesco Ltd. now owns 3,715,122 shares of the information services provider’s stock valued at $4,015,713,000 after purchasing an additional 199,097 shares during the period. Institutional investors and hedge funds own 33.78% of the company’s stock.

In other news, SVP David C. Drummond sold 28,430 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $1,266.89, for a total value of $36,017,682.70. Following the sale, the senior vice president now directly owns 45,806 shares of the company’s stock, valued at $58,031,163.34. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP David C. Drummond sold 1,600 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $1,179.44, for a total transaction of $1,887,104.00. Following the completion of the sale, the senior vice president now directly owns 44,482 shares in the company, valued at $52,463,850.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,043 shares of company stock worth $40,364,988. Insiders own 12.99% of the company’s stock.

GOOG has been the topic of several recent research reports. Bank of America reissued a “buy” rating and issued a $1,450.00 price target (up previously from $1,350.00) on shares of Alphabet in a research note on Friday, July 26th. William Blair reissued an “outperform” rating on shares of Alphabet in a research note on Tuesday, October 29th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Alphabet in a research note on Friday, October 25th. Oppenheimer lifted their price target on Alphabet from $1,370.00 to $1,530.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Finally, Zacks Investment Research raised Alphabet from a “hold” rating to a “buy” rating and set a $1,412.00 price target on the stock in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $1,460.27.

Shares of NASDAQ:GOOG traded up $2.51 during midday trading on Friday, reaching $1,311.37. The company had a trading volume of 1,251,300 shares, compared to its average volume of 1,446,592. The stock has a market cap of $895.89 billion, a PE ratio of 27.60, a P/E/G ratio of 1.58 and a beta of 1.00. Alphabet Inc has a 1-year low of $970.11 and a 1-year high of $1,323.74. The company has a quick ratio of 3.75, a current ratio of 3.78 and a debt-to-equity ratio of 0.07. The business’s 50 day moving average price is $1,241.41 and its 200 day moving average price is $1,179.65.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Monday, October 28th. The information services provider reported $10.12 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $12.57 by ($2.45). The business had revenue of $40.50 billion for the quarter, compared to analysts’ expectations of $40.17 billion. Alphabet had a net margin of 21.04% and a return on equity of 18.34%. Alphabet’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same period last year, the company earned $13.06 earnings per share. On average, research analysts expect that Alphabet Inc will post 49.05 earnings per share for the current fiscal year.

About Alphabet

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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