Alphabet Inc. $GOOG Shares Bought by Bessemer Group Inc.

Bessemer Group Inc. raised its position in Alphabet Inc. (NASDAQ:GOOG) by 6.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 11,628,171 shares of the information services provider’s stock after acquiring an additional 690,109 shares during the period. Alphabet makes up 3.3% of Bessemer Group Inc.’s investment portfolio, making the stock its 5th largest holding. Bessemer Group Inc.’s holdings in Alphabet were worth $2,062,722,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. ACT Advisors LLC. lifted its stake in shares of Alphabet by 3.5% in the second quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider’s stock valued at $288,000 after purchasing an additional 55 shares during the period. Moser Wealth Advisors LLC lifted its stake in shares of Alphabet by 2.2% in the second quarter. Moser Wealth Advisors LLC now owns 2,545 shares of the information services provider’s stock valued at $451,000 after purchasing an additional 55 shares during the period. LongView Wealth Management increased its holdings in Alphabet by 1.1% during the 2nd quarter. LongView Wealth Management now owns 5,126 shares of the information services provider’s stock valued at $909,000 after acquiring an additional 56 shares in the last quarter. Kooman & Associates increased its holdings in Alphabet by 1.4% during the 2nd quarter. Kooman & Associates now owns 4,127 shares of the information services provider’s stock valued at $732,000 after acquiring an additional 56 shares in the last quarter. Finally, Greenup Street Wealth Management LLC increased its holdings in Alphabet by 0.5% during the 2nd quarter. Greenup Street Wealth Management LLC now owns 11,656 shares of the information services provider’s stock valued at $2,068,000 after acquiring an additional 56 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Jefferies Financial Group lifted their price target on shares of Alphabet from $230.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. Roth Capital reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Alphabet in a research report on Wednesday, July 9th. Pivotal Research boosted their target price on shares of Alphabet from $245.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, September 3rd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Alphabet from $260.00 to $300.00 and gave the stock an “overweight” rating in a research note on Monday. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $280.45.

Alphabet Stock Down 0.6%

Alphabet stock opened at $268.43 on Wednesday. The company has a 50-day simple moving average of $239.97 and a 200-day simple moving average of $198.46. The firm has a market capitalization of $3.25 trillion, a P/E ratio of 28.59, a P/E/G ratio of 1.82 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a one year low of $142.66 and a one year high of $271.38.

Insider Transactions at Alphabet

In other news, insider John Kent Walker sold 23,820 shares of the company’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the transaction, the chief accounting officer owned 17,293 shares of the company’s stock, valued at $4,236,785. This represents a 13.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 246,150 shares of company stock worth $55,805,379. Insiders own 12.99% of the company’s stock.

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.