Rhumbline Advisers increased its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 1.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,900,912 shares of the information services provider’s stock after purchasing an additional 119,238 shares during the period. Alphabet accounts for 1.6% of Rhumbline Advisers’ holdings, making the stock its 5th biggest holding. Rhumbline Advisers owned 0.09% of Alphabet worth $1,424,539,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in GOOGL. Live Oak Investment Partners purchased a new stake in shares of Alphabet in the fourth quarter worth about $26,000. Armor Investment Advisors LLC bought a new stake in Alphabet in the 2nd quarter worth approximately $28,000. CarsonAllaria Wealth Management Ltd. raised its holdings in shares of Alphabet by 136.7% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 284 shares of the information services provider’s stock worth $34,000 after acquiring an additional 164 shares in the last quarter. Sanctuary Wealth Management L.L.C. bought a new position in shares of Alphabet during the 4th quarter valued at approximately $34,000. Finally, Turim 21 Investimentos Ltda. purchased a new position in shares of Alphabet in the third quarter valued at $38,000. 35.08% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts recently issued reports on GOOGL shares. JMP Securities upped their price target on shares of Alphabet from $138.00 to $140.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 25th. Wedbush reaffirmed an “outperform” rating and issued a $160.00 price target on shares of Alphabet in a report on Wednesday, October 25th. Bank of America boosted their price objective on Alphabet from $142.00 to $146.00 and gave the stock a “buy” rating in a research note on Wednesday, October 4th. Truist Financial raised their price objective on Alphabet from $122.00 to $160.00 in a research note on Wednesday, July 26th. Finally, Loop Capital increased their price target on Alphabet from $125.00 to $140.00 and gave the company a “hold” rating in a report on Friday, August 18th. Five investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $147.00.
Alphabet Trading Down 1.2 %
Shares of NASDAQ GOOGL opened at $135.31 on Monday. Alphabet Inc. has a 1-year low of $84.86 and a 1-year high of $141.22. The business has a fifty day moving average price of $133.44 and a 200 day moving average price of $127.65. The stock has a market capitalization of $1.69 trillion, a P/E ratio of 25.97, a price-to-earnings-growth ratio of 1.51 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.04 and a quick ratio of 2.01.
Alphabet (NASDAQ:GOOGL – Get Free Report) last released its quarterly earnings results on Tuesday, October 24th. The information services provider reported $1.55 EPS for the quarter, beating the consensus estimate of $1.45 by $0.10. Alphabet had a net margin of 22.46% and a return on equity of 25.24%. The business had revenue of $64.05 billion during the quarter, compared to analyst estimates of $63.13 billion. Equities research analysts expect that Alphabet Inc. will post 5.74 EPS for the current fiscal year.
Insider Buying and Selling at Alphabet
In other news, Director Ann Mather sold 220 shares of the company’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $130.14, for a total transaction of $28,630.80. Following the transaction, the director now directly owns 4,818 shares of the company’s stock, valued at $627,014.52. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 3,749 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $136.28, for a total transaction of $510,913.72. Following the transaction, the chief accounting officer now owns 25,568 shares in the company, valued at approximately $3,484,407.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ann Mather sold 220 shares of the firm’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $130.14, for a total transaction of $28,630.80. Following the completion of the transaction, the director now directly owns 4,818 shares of the company’s stock, valued at approximately $627,014.52. The disclosure for this sale can be found here. Insiders sold a total of 176,576 shares of company stock worth $23,425,367 over the last three months. Corporate insiders own 0.88% of the company’s stock.
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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
- Five stocks we like better than Alphabet
- Biggest Stock Losers – Today’s Biggest Percentage Decliners
- S&P 500’s Whirlwind: Big gains, warning whispers & tactical moves
- How to Invest in EV Charging Stations
- MarketBeat Week in Review – 11/13 – 11/17
- How to Invest in Apparel Stocks
- 3 large caps with red hot RSIs with upside
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.