Gilliland Jeter Wealth Management LLC Purchases Shares of 20,339 Alphabet Inc. (NASDAQ:GOOG)

Gilliland Jeter Wealth Management LLC acquired a new position in Alphabet Inc. (NASDAQ:GOOG) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 20,339 shares of the information services provider’s stock, valued at approximately $2,866,000. Alphabet accounts for 1.2% of Gilliland Jeter Wealth Management LLC’s holdings, making the stock its 21st largest position.

A number of other hedge funds and other institutional investors also recently modified their holdings of GOOG. JPMorgan Chase & Co. boosted its position in Alphabet by 11.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock valued at $12,649,838,000 after buying an additional 9,703,425 shares during the period. International Assets Investment Management LLC bought a new stake in shares of Alphabet in the fourth quarter worth about $11,600,970,000. FMR LLC increased its holdings in Alphabet by 3.8% during the 3rd quarter. FMR LLC now owns 120,234,117 shares of the information services provider’s stock valued at $15,852,868,000 after purchasing an additional 4,348,188 shares during the period. Cerity Partners LLC raised its position in Alphabet by 198.7% during the 4th quarter. Cerity Partners LLC now owns 3,882,882 shares of the information services provider’s stock valued at $547,215,000 after purchasing an additional 2,583,128 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in Alphabet by 93.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 4,591,383 shares of the information services provider’s stock worth $647,064,000 after buying an additional 2,222,950 shares during the period. Institutional investors own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Oppenheimer upped their target price on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a research report on Thursday, April 11th. Susquehanna lifted their target price on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Raymond James increased their price target on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Finally, Stifel Nicolaus lifted their price objective on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Alphabet currently has an average rating of “Buy” and an average price target of $165.67.

Insider Activity at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 3,258 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the sale, the senior vice president now directly owns 144,685 shares of the company’s stock, valued at $22,566,519.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider John Kent Walker sold 48,076 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $142.20, for a total transaction of $6,836,407.20. Following the completion of the sale, the insider now owns 12,725 shares of the company’s stock, valued at $1,809,495. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Prabhakar Raghavan sold 3,258 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the transaction, the senior vice president now owns 144,685 shares of the company’s stock, valued at $22,566,519.45. The disclosure for this sale can be found here. Insiders sold a total of 253,439 shares of company stock valued at $36,746,578 in the last 90 days. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Up 10.0 %

Shares of Alphabet stock traded up $15.74 during trading on Friday, hitting $173.69. The company’s stock had a trading volume of 56,500,787 shares, compared to its average volume of 18,324,858. Alphabet Inc. has a 52 week low of $104.42 and a 52 week high of $176.42. The company has a market capitalization of $2.16 trillion, a PE ratio of 26.64, a P/E/G ratio of 1.60 and a beta of 1.05. The company has a fifty day simple moving average of $149.12 and a two-hundred day simple moving average of $142.77. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 30.01%. The business had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $78.75 billion. During the same quarter in the prior year, the company earned $1.17 earnings per share. The business’s revenue was up 15.4% compared to the same quarter last year. Equities research analysts predict that Alphabet Inc. will post 6.8 earnings per share for the current year.

Alphabet 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.