Ellevest Inc. increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 16.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 32,591 shares of the information services provider’s stock after buying an additional 4,623 shares during the quarter. Ellevest Inc.’s holdings in Alphabet were worth $3,901,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in GOOGL. DC Investments Management LLC purchased a new stake in shares of Alphabet in the first quarter worth approximately $114,000. Bridgefront Capital LLC purchased a new stake in shares of Alphabet in the first quarter worth approximately $225,000. Worth Asset Management LLC purchased a new stake in shares of Alphabet in the first quarter worth approximately $206,000. Eudaimonia Advisors LLC raised its stake in shares of Alphabet by 15.1% in the first quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock worth $275,000 after purchasing an additional 13 shares during the last quarter. Finally, Aspire Capital Advisors LLC purchased a new stake in shares of Alphabet in the first quarter worth approximately $281,000. 35.08% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
GOOGL has been the subject of a number of research analyst reports. StockNews.com downgraded Alphabet from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 14th. Jefferies Financial Group increased their price target on Alphabet from $150.00 to $165.00 in a research report on Wednesday, July 26th. Monness Crespi & Hardt downgraded Alphabet from a “buy” rating to a “neutral” rating in a research report on Wednesday, October 25th. Susquehanna reaffirmed a “positive” rating and set a $150.00 price target on shares of Alphabet in a research report on Thursday, August 31st. Finally, Piper Sandler increased their price target on Alphabet from $147.00 to $150.00 and gave the company an “overweight” rating in a research report on Wednesday, October 25th. Five analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $147.00.
Alphabet Trading Up 0.7 %
Shares of GOOGL stock opened at $136.25 on Tuesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.01 and a current ratio of 2.04. Alphabet Inc. has a 52-week low of $84.86 and a 52-week high of $141.22. The company has a market capitalization of $1.71 trillion, a PE ratio of 26.15, a price-to-earnings-growth ratio of 1.51 and a beta of 1.05. The business’s fifty day moving average is $133.42 and its 200 day moving average is $127.88.
Alphabet (NASDAQ:GOOGL – Get Free Report) last released its quarterly earnings results on Tuesday, October 24th. The information services provider reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.10. Alphabet had a return on equity of 25.24% and a net margin of 22.46%. The business had revenue of $64.05 billion for the quarter, compared to the consensus estimate of $63.13 billion. On average, equities research analysts anticipate that Alphabet Inc. will post 5.74 EPS for the current fiscal year.
Insider Buying and Selling at Alphabet
In other Alphabet news, SVP Prabhakar Raghavan sold 16,083 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $133.82, for a total transaction of $2,152,227.06. Following the sale, the senior vice president now owns 75,621 shares in the company, valued at $10,119,602.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Prabhakar Raghavan sold 16,083 shares of Alphabet stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $133.82, for a total value of $2,152,227.06. Following the transaction, the senior vice president now owns 75,621 shares in the company, valued at $10,119,602.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider John Kent Walker sold 42,900 shares of Alphabet stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $136.51, for a total value of $5,856,279.00. Following the completion of the transaction, the insider now owns 10,383 shares in the company, valued at approximately $1,417,383.33. The disclosure for this sale can be found here. Insiders have sold 176,576 shares of company stock worth $23,425,367 over the last 90 days. 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.
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