Mirae Asset Global Investments Co. Ltd. Acquires 77,884 Shares of Alphabet Inc. (NASDAQ:GOOG)

Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 11.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 775,495 shares of the information services provider’s stock after buying an additional 77,884 shares during the period. Alphabet accounts for approximately 0.6% of Mirae Asset Global Investments Co. Ltd.’s holdings, making the stock its 28th biggest position. Mirae Asset Global Investments Co. Ltd.’s holdings in Alphabet were worth $128,182,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Firethorn Wealth Partners LLC raised its position in shares of Alphabet by 51.2% in the 1st quarter. Firethorn Wealth Partners LLC now owns 3,371 shares of the information services provider’s stock worth $513,000 after purchasing an additional 1,142 shares during the last quarter. Asio Capital LLC raised its position in shares of Alphabet by 1.9% in the 1st quarter. Asio Capital LLC now owns 81,229 shares of the information services provider’s stock worth $12,368,000 after purchasing an additional 1,526 shares during the last quarter. Kathmere Capital Management LLC raised its position in shares of Alphabet by 28.4% in the 1st quarter. Kathmere Capital Management LLC now owns 15,521 shares of the information services provider’s stock worth $2,363,000 after purchasing an additional 3,434 shares during the last quarter. Silverleafe Capital Partners LLC raised its position in shares of Alphabet by 184.6% in the 1st quarter. Silverleafe Capital Partners LLC now owns 9,387 shares of the information services provider’s stock worth $1,429,000 after purchasing an additional 6,089 shares during the last quarter. Finally, OneAscent Wealth Management LLC purchased a new position in shares of Alphabet in the 1st quarter worth about $289,000. Institutional investors own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GOOG. Wolfe Research raised Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. DA Davidson raised Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Oppenheimer decreased their target price on Alphabet from $210.00 to $185.00 and set an “outperform” rating for the company in a research report on Wednesday, September 25th. Scotiabank assumed coverage on Alphabet in a research report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 target price for the company. Finally, TD Cowen boosted their target price on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $186.90.

Insider Activity

In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the completion of the sale, the chief executive officer now owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the completion of the transaction, the chief executive officer now directly owns 2,182,385 shares in the company, valued at approximately $354,310,204.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the sale, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at $5,264,112. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 220,426 shares of company stock valued at $35,993,340 in the last quarter. 12.99% of the stock is currently owned by insiders.

Alphabet Price Performance

NASDAQ GOOG opened at $166.99 on Friday. Alphabet Inc. has a 52 week low of $121.46 and a 52 week high of $193.31. The firm has a market capitalization of $2.06 trillion, a P/E ratio of 23.96, a PEG ratio of 1.27 and a beta of 1.04. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The company has a 50-day moving average price of $163.35 and a 200-day moving average price of $170.04.

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.