American Money Management LLC Grows Holdings in Alphabet Inc. (NASDAQ:GOOGL)

American Money Management LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,754 shares of the information services provider’s stock after acquiring an additional 160 shares during the quarter. Alphabet accounts for approximately 1.4% of American Money Management LLC’s investment portfolio, making the stock its 21st biggest holding. American Money Management LLC’s holdings in Alphabet were worth $5,716,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Bornite Capital Management LP acquired a new position in shares of Alphabet during the first quarter valued at approximately $16,688,000. Markel Corp boosted its stake in Alphabet by 17.0% during the 1st quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock worth $43,110,000 after purchasing an additional 2,250 shares during the last quarter. United Bank grew its holdings in shares of Alphabet by 5.9% during the first quarter. United Bank now owns 2,033 shares of the information services provider’s stock worth $5,654,000 after buying an additional 113 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Alphabet by 23.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock valued at $900,929,000 after buying an additional 61,427 shares during the last quarter. Finally, Dakota Wealth Management lifted its stake in shares of Alphabet by 20.4% in the first quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock worth $25,806,000 after buying an additional 1,570 shares in the last quarter. 35.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In other news, Director Ann Mather sold 220 shares of the business’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $130.14, for a total transaction of $28,630.80. Following the completion of the sale, the director now owns 4,818 shares in the company, valued at approximately $627,014.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Alphabet news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $137.30, for a total transaction of $27,460.00. Following the transaction, the director now owns 7,584 shares of the company’s stock, valued at $1,041,283.20. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Ann Mather sold 220 shares of the business’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $130.14, for a total value of $28,630.80. Following the completion of the sale, the director now owns 4,818 shares of the company’s stock, valued at approximately $627,014.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 176,576 shares of company stock valued at $23,425,367. Corporate insiders own 0.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GOOGL. KeyCorp dropped their price objective on shares of Alphabet from $155.00 to $153.00 and set an “overweight” rating for the company in a research note on Wednesday, October 25th. Sanford C. Bernstein increased their price target on Alphabet from $130.00 to $135.00 in a report on Wednesday, July 26th. Citigroup boosted their price objective on Alphabet from $130.00 to $153.00 in a research note on Wednesday, July 26th. JPMorgan Chase & Co. raised their target price on Alphabet from $121.00 to $150.00 in a research note on Wednesday, July 26th. Finally, JMP Securities boosted their price target on shares of Alphabet from $138.00 to $140.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 25th. Five research analysts have rated the stock with a hold rating, twenty-nine have assigned 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 an average price target of $147.00.

Alphabet Trading Down 1.2 %

NASDAQ GOOGL opened at $135.31 on Monday. Alphabet Inc. has a 52 week low of $84.86 and a 52 week high of $141.22. The firm has a 50 day moving average of $133.44 and a two-hundred day moving average of $127.65. The company has a quick ratio of 2.01, a current ratio of 2.04 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $1.69 trillion, a PE ratio of 25.97, a price-to-earnings-growth ratio of 1.51 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, October 24th. The information services provider reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.10. The firm had revenue of $64.05 billion during the quarter, compared to the consensus estimate of $63.13 billion. Alphabet had a net margin of 22.46% and a return on equity of 25.24%. As a group, research analysts expect that Alphabet Inc. will post 5.74 EPS for the current fiscal year.

Alphabet Company 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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.