Clarity Financial LLC Buys 8,163 Shares of Alphabet Inc. (NASDAQ:GOOG)

Clarity Financial LLC raised its stake in Alphabet Inc. (NASDAQ:GOOG) by 6.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 142,773 shares of the information services provider’s stock after purchasing an additional 8,163 shares during the period. Alphabet comprises 3.3% of Clarity Financial LLC’s investment portfolio, making the stock its 8th biggest position. Clarity Financial LLC’s holdings in Alphabet were worth $27,190,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in GOOG. FMR LLC increased its holdings in shares of Alphabet by 5.2% in the 3rd quarter. FMR LLC now owns 114,802,133 shares of the information services provider’s stock valued at $19,193,768,000 after acquiring an additional 5,655,022 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Alphabet by 10.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider’s stock valued at $5,573,125,000 after buying an additional 3,113,395 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Alphabet by 65.9% in the third quarter. Assenagon Asset Management S.A. now owns 6,294,332 shares of the information services provider’s stock valued at $1,052,349,000 after acquiring an additional 2,500,621 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Alphabet by 182.1% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,526,055 shares of the information services provider’s stock valued at $422,331,000 after acquiring an additional 1,630,701 shares in the last quarter. Finally, Jennison Associates LLC grew its holdings in shares of Alphabet by 9.1% during the third quarter. Jennison Associates LLC now owns 15,424,324 shares of the information services provider’s stock worth $2,578,793,000 after purchasing an additional 1,291,274 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Up 1.5 %

Shares of NASDAQ:GOOG opened at $205.60 on Monday. The firm has a market cap of $2.52 trillion, a price-to-earnings ratio of 27.27, a PEG ratio of 1.27 and a beta of 0.99. Alphabet Inc. has a 12-month low of $131.55 and a 12-month high of $207.08. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock’s 50-day moving average price is $190.48 and its two-hundred day moving average price is $175.60.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $177.36, for a total value of $3,990,600.00. Following the completion of the sale, the chief executive officer now owns 2,084,306 shares of the company’s stock, valued at $369,672,512.16. This represents a 1.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the transaction, the chief accounting officer now directly owns 23,515 shares in the company, valued at $4,007,191.15. This trade represents a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 121,189 shares of company stock valued at $22,182,696. Insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on GOOG shares. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Wedbush reaffirmed an “outperform” rating and set a $220.00 price target on shares of Alphabet in a report on Thursday. Wells Fargo & Company boosted their price target on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Oppenheimer increased their price objective on Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Jefferies Financial Group lifted their price target on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research 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. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $209.13.

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.