Elite Life Management LLC Makes New Investment in Alphabet Inc. (NASDAQ:GOOG)

Elite Life Management LLC purchased a new stake in Alphabet Inc. (NASDAQ:GOOG) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 3,900 shares of the information services provider’s stock, valued at approximately $550,000. Alphabet accounts for 3.3% of Elite Life Management LLC’s holdings, making the stock its 9th largest position.

Other institutional investors have also modified their holdings of the company. FMR LLC grew its position in shares of Alphabet by 3.8% during the third quarter. FMR LLC now owns 120,234,117 shares of the information services provider’s stock worth $15,852,868,000 after acquiring an additional 4,348,188 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Alphabet by 11.3% in the third quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock valued at $12,649,838,000 after purchasing an additional 9,703,425 shares during the period. Northern Trust Corp raised its holdings in shares of Alphabet by 2.3% during the third quarter. Northern Trust Corp now owns 57,269,184 shares of the information services provider’s stock valued at $7,550,942,000 after buying an additional 1,275,060 shares during the last quarter. Sanders Capital LLC increased its position in Alphabet by 0.3% in the 3rd quarter. Sanders Capital LLC now owns 27,744,572 shares of the information services provider’s stock valued at $3,658,122,000 after acquiring an additional 92,741 shares during the period. Finally, Jennison Associates LLC raised its stake in Alphabet by 2.0% during the 3rd quarter. Jennison Associates LLC now owns 19,822,203 shares of the information services provider’s stock valued at $2,613,557,000 after acquiring an additional 390,118 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on GOOG shares. Susquehanna raised their price target on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Oppenheimer raised their target price on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Stifel Nicolaus upped their price target on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Morgan Stanley reissued an “overweight” rating and set a $165.00 target price on shares of Alphabet in a report on Thursday, April 11th. Finally, Raymond James increased their price target on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $159.86.

Insider Activity

In other Alphabet news, Director Frances Arnold sold 230 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total transaction of $35,433.80. Following the sale, the director now owns 15,104 shares in the company, valued at approximately $2,326,922.24. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CAO Amie Thuener O’toole sold 660 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value of $94,769.40. Following the completion of the sale, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Frances Arnold sold 230 shares of the company’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the transaction, the director now directly owns 15,104 shares in the company, valued at $2,326,922.24. The disclosure for this sale can be found here. Insiders sold a total of 251,339 shares of company stock valued at $36,377,482 over the last three months. Insiders own 12.99% of the company’s stock.

Alphabet Stock Up 1.2 %

GOOG stock opened at $159.92 on Wednesday. The firm has a market cap of $1.99 trillion, a PE ratio of 27.57, a P/E/G ratio of 1.46 and a beta of 1.05. Alphabet Inc. has a 12 month low of $103.27 and a 12 month high of $161.70. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. The firm has a 50 day simple moving average of $147.92 and a 200 day simple moving average of $142.27.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $85.28 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The company’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.05 EPS. Equities research analysts forecast that Alphabet Inc. will post 6.78 earnings per share for the current fiscal year.

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.