Drive Wealth Management LLC Has $3.43 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

Drive Wealth Management LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.5% in the 4th quarter, Holdings Channel reports. The fund owned 17,998 shares of the information services provider’s stock after selling 97 shares during the period. Alphabet accounts for 0.8% of Drive Wealth Management LLC’s investment portfolio, making the stock its 21st largest holding. Drive Wealth Management LLC’s holdings in Alphabet were worth $3,428,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in GOOG. SPC Financial Inc. bought a new stake in shares of Alphabet during the second quarter worth about $287,000. New Century Financial Group LLC bought a new stake in Alphabet during the 2nd quarter worth approximately $385,000. RiverFront Investment Group LLC increased its position in Alphabet by 14.0% in the 2nd quarter. RiverFront Investment Group LLC now owns 214,555 shares of the information services provider’s stock valued at $39,354,000 after acquiring an additional 26,430 shares during the period. Farmers National Bank raised its stake in shares of Alphabet by 91.9% during the second quarter. Farmers National Bank now owns 8,927 shares of the information services provider’s stock valued at $1,637,000 after acquiring an additional 4,274 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Alphabet during the second quarter worth $607,000. Institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Barclays upped their price target on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Oppenheimer raised their price target on shares of Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Jefferies Financial Group boosted their target price on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Canaccord Genuity Group increased their price target on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $205.13.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $177.36, for a total value of $3,990,600.00. Following the transaction, the chief executive officer now owns 2,084,306 shares in the company, valued at $369,672,512.16. The trade was a 1.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $171.42, for a total value of $234,331.14. Following the sale, the chief accounting officer now directly owns 26,349 shares of the company’s stock, valued at $4,516,745.58. The trade was a 4.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 122,887 shares of company stock worth $22,470,464. Corporate insiders own 12.99% of the company’s stock.

Alphabet Trading Up 0.1 %

NASDAQ:GOOG opened at $197.18 on Thursday. Alphabet Inc. has a one year low of $131.55 and a one year high of $203.84. The company has a market cap of $2.41 trillion, a PE ratio of 26.15, a PEG ratio of 1.27 and a beta of 0.99. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The firm has a 50-day moving average of $188.64 and a 200-day moving average of $175.20.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. During the same quarter last year, the company earned $1.55 earnings per share. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. As a group, equities research analysts expect that Alphabet Inc. will post 8.02 EPS for the current fiscal 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.