Alphabet Inc. (NASDAQ:GOOGL) Shares Purchased by Gradient Investments LLC

Gradient Investments LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 7.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,388 shares of the information services provider’s stock after purchasing an additional 490 shares during the quarter. Gradient Investments LLC’s holdings in Alphabet were worth $884,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Alphabet by 1,919.4% in the third quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock valued at $45,628,484,000 after purchasing an additional 453,413,389 shares during the period. State Street Corp boosted its holdings in Alphabet by 1,900.6% in the third quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock valued at $20,770,809,000 after purchasing an additional 206,300,042 shares during the period. Moneta Group Investment Advisors LLC boosted its holdings in Alphabet by 111,197.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 170,420,243 shares of the information services provider’s stock valued at $15,036,178,000 after purchasing an additional 170,267,122 shares during the period. Geode Capital Management LLC boosted its holdings in Alphabet by 1.3% in the first quarter. Geode Capital Management LLC now owns 118,576,618 shares of the information services provider’s stock valued at $12,271,705,000 after purchasing an additional 1,499,107 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Alphabet by 1,759.2% in the third quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock valued at $11,106,502,000 after purchasing an additional 109,870,525 shares during the period. 35.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on GOOGL shares. Citigroup raised their price target on Alphabet from $130.00 to $153.00 in a research note on Wednesday, July 26th. Piper Sandler raised their price target on Alphabet from $140.00 to $148.00 in a report on Wednesday, July 26th. Royal Bank of Canada raised their price target on Alphabet from $145.00 to $155.00 in a report on Wednesday, July 26th. Rosenblatt Securities raised their price target on Alphabet from $132.00 to $163.00 and gave the stock a “buy” rating in a report on Wednesday, July 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $140.00 price objective on shares of Alphabet in a report on Wednesday, September 13th. Four investment analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $143.89.

Alphabet Trading Up 0.6 %

Alphabet stock opened at $138.21 on Tuesday. The company has a 50 day moving average price of $129.60 and a 200 day moving average price of $117.88. Alphabet Inc. has a 52 week low of $83.34 and a 52 week high of $139.16. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.14 and a current ratio of 2.17. The firm has a market capitalization of $1.74 trillion, a price-to-earnings ratio of 29.28, a P/E/G ratio of 1.59 and a beta of 1.06.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.12. Alphabet had a net margin of 21.05% and a return on equity of 23.49%. The company had revenue of $74.60 billion during the quarter, compared to the consensus estimate of $60.24 billion. During the same quarter in the prior year, the firm earned $1.21 EPS. Research analysts forecast that Alphabet Inc. will post 5.68 EPS for the current year.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 200 shares of the stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $137.30, for a total value of $27,460.00. Following the completion of the sale, the director now owns 7,584 shares in the company, valued at approximately $1,041,283.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CAO Amie Thuener O’toole sold 3,749 shares of the firm’s stock in a transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction on Monday, September 11th. The shares were 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 in the company, valued at approximately $1,041,283.20. The disclosure for this sale can be found here. Insiders sold a total of 96,092 shares of company stock worth $12,221,941 in the last quarter. 0.88% of the stock is currently owned by corporate insiders.

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.