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

Bessemer Group Inc. lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 6.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,628,171 shares of the information services provider’s stock after buying an additional 690,109 shares during the period. Alphabet makes up approximately 3.3% of Bessemer Group Inc.’s investment portfolio, making the stock its 5th biggest holding. Bessemer Group Inc. owned 0.10% of Alphabet worth $2,062,722,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GOOG. Brighton Jones LLC lifted its position in Alphabet by 5.6% during the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock valued at $22,901,000 after purchasing an additional 6,410 shares during the period. Revisor Wealth Management LLC increased its holdings in Alphabet by 107.9% in the first quarter. Revisor Wealth Management LLC now owns 3,659 shares of the information services provider’s stock valued at $572,000 after buying an additional 1,899 shares in the last quarter. Golden State Wealth Management LLC increased its holdings in Alphabet by 6.2% in the first quarter. Golden State Wealth Management LLC now owns 10,160 shares of the information services provider’s stock valued at $1,587,000 after buying an additional 594 shares in the last quarter. Waterfront Wealth Inc. increased its holdings in Alphabet by 1.9% in the first quarter. Waterfront Wealth Inc. now owns 4,695 shares of the information services provider’s stock valued at $734,000 after buying an additional 89 shares in the last quarter. Finally, Crown Wealth Group LLC increased its holdings in Alphabet by 1.5% in the first quarter. Crown Wealth Group LLC now owns 5,595 shares of the information services provider’s stock valued at $874,000 after buying an additional 82 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the completion of the sale, the chief executive officer owned 2,369,619 shares in the company, valued at $592,760,192.85. This represents a 1.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction on Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the sale, the insider owned 42,985 shares of the company’s stock, valued at $10,635,348.70. This trade represents a 29.30% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 246,150 shares of company stock worth $55,805,379. Corporate insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

GOOG has been the subject of a number of recent analyst reports. Cowen reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, October 8th. Mizuho raised shares of Alphabet to a “strong-buy” rating in a report on Monday, September 29th. Piper Sandler reaffirmed a “neutral” rating on shares of Alphabet in a report on Wednesday, July 9th. Robert W. Baird lifted their price objective on shares of Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. Finally, 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 note on Wednesday, September 3rd. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average price target of $280.45.

Alphabet Stock Performance

Shares of GOOG stock opened at $268.43 on Wednesday. The firm’s 50 day moving average price is $239.97 and its 200-day moving average price is $198.46. 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. The firm has a market cap 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.

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.