Prairie Advisory LLC Buys 8,529 Shares of Alphabet Inc. $GOOGL

Prairie Advisory LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 99.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 17,102 shares of the information services provider’s stock after buying an additional 8,529 shares during the period. Alphabet accounts for approximately 0.7% of Prairie Advisory LLC’s holdings, making the stock its 27th biggest holding. Prairie Advisory LLC’s holdings in Alphabet were worth $5,885,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Strategic Wealth Advisors LLC boosted its holdings in Alphabet by 6.0% in the first quarter. Strategic Wealth Advisors LLC now owns 477 shares of the information services provider’s stock valued at $137,000 after acquiring an additional 27 shares during the last quarter. Rockbridge Investment Management LCC increased its stake in Alphabet by 0.5% during the first quarter. Rockbridge Investment Management LCC now owns 5,460 shares of the information services provider’s stock worth $1,570,000 after acquiring an additional 27 shares during the last quarter. Ruggaard & Associates LLC increased its stake in Alphabet by 0.9% during the first quarter. Ruggaard & Associates LLC now owns 2,921 shares of the information services provider’s stock worth $840,000 after acquiring an additional 27 shares during the last quarter. Cadia Private Client LLC raised its holdings in shares of Alphabet by 1.1% in the 1st quarter. Cadia Private Client LLC now owns 2,589 shares of the information services provider’s stock worth $744,000 after purchasing an additional 28 shares during the period. Finally, Evansbrook LLC raised its holdings in shares of Alphabet by 0.3% in the 1st quarter. Evansbrook LLC now owns 9,522 shares of the information services provider’s stock worth $2,738,000 after purchasing an additional 28 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google Cloud and AI demand remain key bullish factors. Coverage highlights accelerating Google Cloud growth, expanding demand for AI infrastructure, and Alphabet’s Gemini models and in-house chips as potential drivers of future revenue and margins. OpenAI’s decision to make its models available through Google Cloud could also increase enterprise cloud usage. OpenAI to bring AI models to Google’s cloud
• Positive Sentiment: Some analysts see substantial upside. Bullish commentary points to strong search and cloud fundamentals, a lower valuation than many large technology peers, and potential upside if Alphabet demonstrates that AI spending is translating into durable growth. TikTok’s reported shift of advertising toward YouTube may provide an additional, though smaller, benefit. Alphabet could still have room to run
• Positive Sentiment: Citizens JMP maintained an outperform rating. The firm lowered its price target from $515 to $450, but the revised target still implies considerable potential appreciation from current levels. Banking giant cuts Google stock price target

Insider Activity

In related news, CAO Marsida Saraci sold 449 shares of the business’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $333.20, for a total value of $149,606.80. Following the transaction, the chief accounting officer owned 27,386 shares in the company, valued at approximately $9,125,015.20. The trade was a 1.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 118,138 shares of the stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $18.90, for a total value of $2,232,808.20. The disclosure for this sale is available in the SEC filing. Insiders sold 315,765 shares of company stock worth $6,297,980 over the last ninety days. Corporate insiders own 11.61% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on GOOGL shares. Needham & Company LLC reaffirmed a “buy” rating and set a $450.00 price target on shares of Alphabet in a research report on Thursday, October 8th. KeyCorp dropped their price objective on shares of Alphabet from $435.00 to $410.00 and set an “overweight” rating for the company in a research report on Monday. Royal Bank Of Canada reissued an “outperform” rating and issued a $425.00 price objective on shares of Alphabet in a research report on Thursday, July 23rd. BMO Capital Markets reissued an “outperform” rating and issued a $480.00 target price (up from $465.00) on shares of Alphabet in a research note on Tuesday. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Alphabet in a report on Thursday, October 15th. Five equities research analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $425.04.

Alphabet Stock Performance

Alphabet stock opened at $324.22 on Friday. Alphabet Inc. has a 12-month low of $251.85 and a 12-month high of $408.61. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.72 and a quick ratio of 2.64. The company has a market capitalization of $3.97 trillion, a price-to-earnings ratio of 16.28, a price-to-earnings-growth ratio of 0.97 and a beta of 1.21. The firm’s fifty day moving average price is $343.31 and its 200 day moving average price is $353.04.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.89 by $6.22. The company had revenue of $119.80 billion during the quarter, compared to analysts’ expectations of $117.07 billion. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. On average, research analysts forecast that Alphabet Inc. will post 20.60 EPS for the current fiscal year.

Alphabet Profile

Alphabet Inc is a technology holding company best known for its Google subsidiary. Google operates a global internet-services business centered on online search, digital advertising, YouTube, Android, Chrome, Google Maps, Google Play, and a broad range of cloud-based productivity and collaboration tools.

Google Cloud provides infrastructure, data analytics, cybersecurity, artificial intelligence, and enterprise software services to businesses, governments, and other organizations. Alphabet also develops consumer hardware, including Pixel devices and products for connected homes, while investing in emerging businesses through its “Other Bets” segment, including autonomous transportation and life sciences initiatives.

Alphabet was established in 2015 as part of a corporate restructuring that made Google a subsidiary and provided a separate structure for its expanding portfolio of businesses.