Arthur M. Cohen & Associates LLC Purchases 6,855 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Arthur M. Cohen & Associates LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 1,096.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,480 shares of the information services provider’s stock after purchasing an additional 6,855 shares during the quarter. Alphabet comprises 4.4% of Arthur M. Cohen & Associates LLC’s portfolio, making the stock its 7th largest holding. Arthur M. Cohen & Associates LLC’s holdings in Alphabet were worth $20,892,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the stock. State Street Corp boosted its position in Alphabet by 1.4% during the fourth quarter. State Street Corp now owns 11,252,792 shares of the information services provider’s stock worth $32,599,789,000 after purchasing an additional 157,280 shares during the period. Geode Capital Management LLC boosted its position in Alphabet by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 5,322,633 shares of the information services provider’s stock worth $15,381,257,000 after purchasing an additional 116,084 shares during the period. Norges Bank bought a new stake in Alphabet during the fourth quarter worth approximately $14,477,662,000. Massachusetts Financial Services Co. MA boosted its position in Alphabet by 0.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,825,959 shares of the information services provider’s stock worth $8,186,916,000 after purchasing an additional 20,120 shares during the period. Finally, Invesco Ltd. boosted its position in Alphabet by 14.1% during the fourth quarter. Invesco Ltd. now owns 2,292,059 shares of the information services provider’s stock worth $6,640,190,000 after purchasing an additional 283,907 shares during the period. Institutional investors own 41.70% of the company’s stock.

Alphabet Price Performance

Shares of GOOGL stock opened at $116.32 on Monday. The stock has a 50-day moving average price of $154.46 and a 200 day moving average price of $138.72. The company has a quick ratio of 2.85, a current ratio of 2.87 and a debt-to-equity ratio of 0.06. The firm has a market cap of $1.53 trillion, a price-to-earnings ratio of 21.04, a PEG ratio of 1.12 and a beta of 1.10. Alphabet Inc. has a 12 month low of $101.88 and a 12 month high of $151.55.

Alphabet (NASDAQ:GOOGLGet Rating) last announced its quarterly earnings data on Tuesday, July 26th. The information services provider reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.11). Alphabet had a return on equity of 30.18% and a net margin of 27.57%. During the same period last year, the business earned $27.26 earnings per share. Research analysts expect that Alphabet Inc. will post 5.37 EPS for the current year.

Insider Buying and Selling

In other news, Director Ann Mather sold 20 shares of the business’s stock in a transaction dated Monday, June 27th. The stock was sold at an average price of $2,383.32, for a total transaction of $47,666.40. Following the completion of the transaction, the director now directly owns 565 shares in the company, valued at approximately $1,346,575.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director John L. Hennessy sold 33 shares of the business’s stock in a transaction dated Thursday, June 9th. The stock was sold at an average price of $2,348.39, for a total transaction of $77,496.87. Following the completion of the transaction, the director now directly owns 78 shares in the company, valued at approximately $183,174.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ann Mather sold 20 shares of the business’s stock in a transaction dated Monday, June 27th. The stock was sold at an average price of $2,383.32, for a total value of $47,666.40. Following the transaction, the director now owns 565 shares of the company’s stock, valued at $1,346,575.80. The disclosure for this sale can be found here. Insiders sold a total of 7,269 shares of company stock worth $12,792,226 over the last three months. 11.44% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Bank of America reduced their price objective on Alphabet from $132.00 to $125.00 and set a “buy” rating for the company in a research report on Wednesday, July 27th. Moffett Nathanson reduced their price objective on Alphabet to $132.50 in a research report on Thursday, May 26th. Monness Crespi & Hardt reduced their price objective on Alphabet to $145.00 in a research report on Tuesday, July 5th. Citigroup reduced their price objective on Alphabet from $145.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, July 27th. Finally, Morgan Stanley increased their price objective on Alphabet from $140.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, July 27th. Five equities research analysts have rated the stock with a hold rating, thirty-three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $147.29.

Alphabet Company Profile

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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

See Also

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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