Bridgewater Advisors Inc. Has $8 Million Stake in Alphabet Inc. $GOOG

Bridgewater Advisors Inc. boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,742 shares of the information services provider’s stock after acquiring an additional 835 shares during the quarter. Bridgewater Advisors Inc.’s holdings in Alphabet were worth $8,003,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. RDA Financial Network raised its position in shares of Alphabet by 5.3% in the 2nd quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock worth $1,968,000 after acquiring an additional 554 shares in the last quarter. Bleakley Financial Group LLC increased its holdings in shares of Alphabet by 1.4% during the second quarter. Bleakley Financial Group LLC now owns 170,020 shares of the information services provider’s stock valued at $30,160,000 after acquiring an additional 2,304 shares in the last quarter. Oldfather Financial Services LLC acquired a new position in shares of Alphabet during the second quarter worth approximately $213,000. Tower View Wealth Management LLC lifted its holdings in shares of Alphabet by 6.9% in the 2nd quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock worth $4,904,000 after purchasing an additional 1,776 shares in the last quarter. Finally, Dock Street Asset Management Inc. grew its position in Alphabet by 0.8% in the 2nd quarter. Dock Street Asset Management Inc. now owns 234,306 shares of the information services provider’s stock valued at $41,563,000 after purchasing an additional 1,970 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on GOOG shares. Robert W. Baird upped their price objective on shares of Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a report on Monday, September 22nd. Hsbc Global Res raised shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, October 7th. UBS Group reaffirmed a “neutral” rating on shares of Alphabet in a research report on Thursday, October 30th. Rosenblatt Securities set a $279.00 price target on Alphabet in a research note on Thursday, October 30th. Finally, Oppenheimer boosted their price objective on Alphabet from $300.00 to $345.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Five analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average price target of $324.81.

Alphabet Stock Down 2.1%

Alphabet stock opened at $278.06 on Wednesday. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $291.93. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The firm’s 50-day simple moving average is $247.49 and its 200 day simple moving average is $203.10. The stock has a market cap of $3.36 trillion, a PE ratio of 27.42, a price-to-earnings-growth ratio of 1.86 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The firm had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. During the same quarter last year, the firm earned $2.12 EPS. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. Research analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 954 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $282.33, for a total transaction of $269,342.82. Following the completion of the sale, the chief accounting officer directly owned 14,517 shares of the company’s stock, valued at $4,098,584.61. This trade represents a 6.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the completion of the transaction, the chief executive officer directly owned 2,369,619 shares in the company, valued at $592,760,192.85. This trade represents a 1.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 190,896 shares of company stock valued at $45,092,175 in the last ninety days. 12.99% of the stock is owned by corporate insiders.

Alphabet Company 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.