Fisher Asset Management LLC Buys 579,305 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Fisher Asset Management LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,725,279 shares of the information services provider’s stock after buying an additional 579,305 shares during the period. Alphabet accounts for approximately 2.8% of Fisher Asset Management LLC’s holdings, making the stock its 4th biggest holding. Fisher Asset Management LLC owned about 0.34% of Alphabet worth $5,114,215,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Live Oak Investment Partners acquired a new position in Alphabet during the 4th quarter valued at about $26,000. Armor Investment Advisors LLC acquired a new position in Alphabet during the 2nd quarter valued at about $28,000. CarsonAllaria Wealth Management Ltd. lifted its position in Alphabet by 136.7% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 284 shares of the information services provider’s stock valued at $34,000 after purchasing an additional 164 shares during the period. Sanctuary Wealth Management L.L.C. acquired a new position in Alphabet during the 4th quarter valued at about $34,000. Finally, Turim 21 Investimentos Ltda. acquired a new position in Alphabet during the 3rd quarter valued at about $38,000. Institutional investors and hedge funds own 35.08% of the company’s stock.

Insider Activity at Alphabet

In other Alphabet news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $139.93, for a total transaction of $27,986.00. Following the completion of the sale, the director now owns 7,384 shares of the company’s stock, valued at approximately $1,033,243.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, 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 sale, the director now owns 4,818 shares of the company’s stock, valued at approximately $627,014.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $139.93, for a total value of $27,986.00. Following the sale, the director now directly owns 7,384 shares of the company’s stock, valued at approximately $1,033,243.12. The disclosure for this sale can be found here. Over the last three months, insiders sold 176,576 shares of company stock valued at $23,425,367. 0.88% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

GOOGL has been the topic of a number of research reports. Piper Sandler upped their target price on shares of Alphabet from $147.00 to $150.00 and gave the company an “overweight” rating in a research report on Wednesday, October 25th. Susquehanna restated a “positive” rating and set a $150.00 target price on shares of Alphabet in a research report on Thursday, August 31st. Roth Mkm upped their target price on shares of Alphabet from $146.00 to $152.00 and gave the company a “buy” rating in a research report on Wednesday, October 25th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $155.00 price target on shares of Alphabet in a research note on Wednesday, October 25th. Finally, Jefferies Financial Group upped their price target on Alphabet from $150.00 to $165.00 in a research note on Wednesday, July 26th. Five research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $147.00.

Alphabet Price Performance

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 company has a current ratio of 2.04, a quick ratio of 2.01 and a debt-to-equity ratio of 0.05. The firm has a fifty day simple moving average of $133.44 and a 200 day simple moving average of $127.65. The stock has a market capitalization of $1.69 trillion, a PE ratio of 25.97, a P/E/G ratio of 1.51 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, October 24th. The information services provider reported $1.55 earnings per share 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 analysts’ expectations of $63.13 billion. On average, research analysts expect that Alphabet Inc. will post 5.74 EPS for the current fiscal year.

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