Miracle Mile Advisors LLC Buys 65 Shares of Alphabet Inc (GOOG)

Miracle Mile Advisors LLC increased its stake in shares of Alphabet Inc (NASDAQ:GOOG) by 18.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 418 shares of the information services provider’s stock after buying an additional 65 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Alphabet were worth $401,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Perennial Advisors LLC lifted its position in shares of Alphabet by 8.7% during the 2nd quarter. Perennial Advisors LLC now owns 3,232 shares of the information services provider’s stock valued at $2,937,000 after buying an additional 260 shares during the last quarter. One Capital Management LLC raised its holdings in shares of Alphabet by 5.0% in the 2nd quarter. One Capital Management LLC now owns 3,213 shares of the information services provider’s stock valued at $2,920,000 after acquiring an additional 154 shares in the last quarter. Northeast Investment Management raised its holdings in shares of Alphabet by 4.4% in the 2nd quarter. Northeast Investment Management now owns 12,678 shares of the information services provider’s stock valued at $11,521,000 after acquiring an additional 537 shares in the last quarter. Taurus Asset Management LLC raised its holdings in shares of Alphabet by 0.9% in the 2nd quarter. Taurus Asset Management LLC now owns 25,960 shares of the information services provider’s stock valued at $23,591,000 after acquiring an additional 220 shares in the last quarter. Finally, AKO Capital LLP raised its holdings in shares of Alphabet by 6.8% in the 2nd quarter. AKO Capital LLP now owns 51,624 shares of the information services provider’s stock valued at $46,912,000 after acquiring an additional 3,289 shares in the last quarter. Institutional investors and hedge funds own 34.63% of the company’s stock.

GOOG has been the topic of several recent analyst reports. SunTrust Banks reiterated a “buy” rating and set a $1,100.00 price objective on shares of Alphabet in a research report on Saturday, September 23rd. UBS Group reiterated a “buy” rating and set a $1,080.00 price objective on shares of Alphabet in a research report on Monday, September 11th. Morgan Stanley reiterated a “buy” rating on shares of Alphabet in a research report on Friday, September 29th. Bank of America restated a “buy” rating and set a $1,100.00 price target on shares of Alphabet in a research report on Tuesday, September 26th. Finally, Wells Fargo & Co restated a “buy” rating on shares of Alphabet in a research report on Friday, October 6th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and thirty-eight have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $1,046.04.

Shares of Alphabet Inc (NASDAQ:GOOG) opened at $1,102.23 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.77 and a quick ratio of 5.73. The company has a market capitalization of $779,810.00, a PE ratio of 36.72 and a beta of 0.94. Alphabet Inc has a 52-week low of $790.52 and a 52-week high of $1,104.25.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, October 26th. The information services provider reported $9.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.31 by $1.26. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. The business had revenue of $27.77 billion for the quarter, compared to the consensus estimate of $27.17 billion. During the same period in the prior year, the business posted $9.06 earnings per share. The company’s quarterly revenue was up 23.7% compared to the same quarter last year.

In other Alphabet news, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $1,065.21, for a total transaction of $4,260,840.00. Following the sale, the chief executive officer now owns 1,031 shares of the company’s stock, valued at approximately $1,098,231.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ann Mather sold 38 shares of the stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $1,017.21, for a total value of $38,653.98. Following the sale, the director now directly owns 1,805 shares in the company, valued at approximately $1,836,064.05. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,900 shares of company stock worth $37,877,147. Company insiders own 13.92% of the company’s stock.

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Alphabet Profile

Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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