abrdn plc Has $994.24 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

abrdn plc grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 8.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,000,048 shares of the information services provider’s stock after acquiring an additional 457,870 shares during the quarter. Alphabet accounts for approximately 1.8% of abrdn plc’s investment portfolio, making the stock its 6th largest position. abrdn plc’s holdings in Alphabet were worth $994,238,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Abich Financial Wealth Management LLC raised its stake in shares of Alphabet by 9,200.0% during the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after acquiring an additional 184 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new position in Alphabet during the 2nd quarter worth about $37,000. HWG Holdings LP bought a new stake in shares of Alphabet in the 2nd quarter valued at about $40,000. Slocum Gordon & Co LLP acquired a new stake in shares of Alphabet in the second quarter valued at about $44,000. Finally, Hoese & Co LLP raised its position in shares of Alphabet by 62.5% during the second quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

GOOG has been the subject of a number of recent analyst reports. TD Cowen increased their target price on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Pivotal Research assumed coverage on shares of Alphabet in a report on Tuesday, October 1st. They issued a “buy” rating and a $215.00 target price on the stock. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a report on Thursday, September 5th. Wolfe Research raised Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Finally, DA Davidson upgraded Alphabet to a “hold” rating in a report on Tuesday, September 10th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $186.90.

Alphabet Stock Up 1.7 %

Alphabet stock opened at $171.14 on Wednesday. The firm has a market capitalization of $2.11 trillion, a price-to-earnings ratio of 26.25, a price-to-earnings-growth ratio of 1.27 and a beta of 1.04. The firm’s fifty day moving average price is $163.39 and its two-hundred day moving average price is $170.26. Alphabet Inc. has a 1-year low of $123.88 and a 1-year high of $193.31. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the completion of the transaction, the chief executive officer now owns 2,106,806 shares in the company, valued at approximately $350,361,837.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the transaction, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at $50,765,346. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the completion of the sale, the chief executive officer now owns 2,106,806 shares of the company’s stock, valued at approximately $350,361,837.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 220,426 shares of company stock worth $35,993,340 in the last quarter. Insiders own 12.99% of the company’s stock.

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.