Gerber Kawasaki Wealth & Investment Management Boosts Stake in Alphabet Inc (NASDAQ:GOOG)

Gerber Kawasaki Wealth & Investment Management grew its holdings in shares of Alphabet Inc (NASDAQ:GOOG) by 31.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,394 shares of the information services provider’s stock after acquiring an additional 1,546 shares during the period. Alphabet comprises about 2.1% of Gerber Kawasaki Wealth & Investment Management’s investment portfolio, making the stock its 17th biggest holding. Gerber Kawasaki Wealth & Investment Management’s holdings in Alphabet were worth $7,642,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in GOOG. Private Advisor Group LLC lifted its holdings in Alphabet by 18,323.9% in the second quarter. Private Advisor Group LLC now owns 954,357 shares of the information services provider’s stock worth $1,064,798,000 after acquiring an additional 949,177 shares during the last quarter. Mainstay Capital Management LLC ADV lifted its holdings in Alphabet by 79,743.5% in the second quarter. Mainstay Capital Management LLC ADV now owns 796,838 shares of the information services provider’s stock worth $1,009,000 after acquiring an additional 795,840 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its holdings in Alphabet by 37,811.2% in the second quarter. Moneta Group Investment Advisors LLC now owns 354,849 shares of the information services provider’s stock worth $1,691,000 after acquiring an additional 353,913 shares during the last quarter. BlackRock Inc. lifted its holdings in Alphabet by 0.9% in the second quarter. BlackRock Inc. now owns 19,245,773 shares of the information services provider’s stock worth $21,471,546,000 after acquiring an additional 174,333 shares during the last quarter. Finally, Salem Investment Counselors Inc. lifted its holdings in Alphabet by 715.6% in the second quarter. Salem Investment Counselors Inc. now owns 187,334 shares of the information services provider’s stock worth $208,999,000 after acquiring an additional 164,366 shares during the last quarter. Institutional investors own 34.12% of the company’s stock.

A number of brokerages have issued reports on GOOG. Goldman Sachs Group reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday. Credit Suisse Group reissued a “buy” rating on shares of Alphabet in a report on Tuesday, February 5th. Deutsche Bank reissued a “buy” rating and set a $1,380.00 target price (up previously from $1,300.00) on shares of Alphabet in a report on Tuesday, February 5th. UBS Group reissued a “buy” rating on shares of Alphabet in a report on Tuesday, February 5th. Finally, Barclays decreased their price target on shares of Alphabet to $1,350.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-nine have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $1,327.66.

In other news, Director Ann Mather sold 194 shares of the business’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $1,120.68, for a total transaction of $217,411.92. Following the transaction, the director now owns 1,797 shares in the company, valued at approximately $2,013,861.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Amie Thuener O’toole sold 80 shares of the business’s stock in a transaction dated Tuesday, December 4th. The stock was sold at an average price of $1,103.12, for a total transaction of $88,249.60. Following the transaction, the vice president now owns 388 shares in the company, valued at approximately $428,010.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 79,495 shares of company stock valued at $83,512,036. Company insiders own 13.11% of the company’s stock.

Shares of GOOG stock traded down $3.65 on Friday, hitting $1,095.06. The company’s stock had a trading volume of 1,072,020 shares, compared to its average volume of 1,528,919. The company has a current ratio of 3.92, a quick ratio of 4.10 and a debt-to-equity ratio of 0.02. Alphabet Inc has a fifty-two week low of $970.11 and a fifty-two week high of $1,273.89. The firm has a market cap of $762.03 billion, a PE ratio of 23.05 and a beta of 1.06.

Alphabet (NASDAQ:GOOG) last released its earnings results on Monday, February 4th. The information services provider reported $12.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $10.86 by $1.91. The firm had revenue of $39.28 billion during the quarter, compared to analyst estimates of $38.91 billion. Alphabet had a net margin of 22.47% and a return on equity of 19.94%. The business’s revenue was up 21.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $9.70 EPS.

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Alphabet Profile

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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