Commonwealth Equity Services LLC Raises Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Commonwealth Equity Services LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 8.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 107,934 shares of the information services provider’s stock after acquiring an additional 8,015 shares during the quarter. Alphabet makes up approximately 0.7% of Commonwealth Equity Services LLC’s holdings, making the stock its 20th biggest holding. Commonwealth Equity Services LLC’s holdings in Alphabet were worth $300,202,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Ropes Wealth Advisors LLC grew its holdings in Alphabet by 24.5% in the first quarter. Ropes Wealth Advisors LLC now owns 4,064 shares of the information services provider’s stock worth $11,303,000 after purchasing an additional 799 shares during the last quarter. Thoroughbred Financial Services LLC grew its holdings in Alphabet by 60.5% in the first quarter. Thoroughbred Financial Services LLC now owns 2,957 shares of the information services provider’s stock worth $8,224,000 after purchasing an additional 1,115 shares during the last quarter. swisspartners Ltd. grew its holdings in Alphabet by 472.5% in the first quarter. swisspartners Ltd. now owns 10,854 shares of the information services provider’s stock worth $975,000 after purchasing an additional 8,958 shares during the last quarter. Brio Consultants LLC lifted its stake in shares of Alphabet by 7.5% during the first quarter. Brio Consultants LLC now owns 401 shares of the information services provider’s stock worth $1,115,000 after buying an additional 28 shares during the period. Finally, Carl Stuart Investment Advisor Inc. acquired a new stake in shares of Alphabet during the first quarter worth $571,000. 41.70% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Up 2.6 %

Shares of NASDAQ GOOGL opened at $118.08 on Thursday. Alphabet Inc. has a 12-month low of $101.88 and a 12-month high of $151.55. The stock has a market cap of $1.56 trillion, a PE ratio of 21.97, a P/E/G ratio of 1.85 and a beta of 1.08. The company has a current ratio of 2.81, a quick ratio of 2.78 and a debt-to-equity ratio of 0.06. The company has a 50-day moving average of $154.96 and a 200 day moving average of $138.24.

Alphabet (NASDAQ:GOOGLGet Rating) last announced its quarterly earnings data on Tuesday, July 26th. The information services provider reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.11). Alphabet had a net margin of 25.89% and a return on equity of 28.65%. During the same quarter in the previous year, the firm posted $27.26 EPS. As a group, sell-side analysts predict that Alphabet Inc. will post 5.22 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on GOOGL shares. UBS Group lowered their price objective on shares of Alphabet from $133.00 to $132.00 and set a “buy” rating for the company in a research note on Wednesday, July 27th. Moffett Nathanson lowered their price objective on shares of Alphabet to $132.50 in a research note on Thursday, May 26th. Barclays lowered their price objective on shares of Alphabet from $160.00 to $150.00 and set an “overweight” rating for the company in a research note on Tuesday, July 5th. Wedbush lowered their price objective on shares of Alphabet from $190.00 to $155.65 in a research note on Wednesday, April 27th. Finally, Itaú Unibanco started coverage on shares of Alphabet in a research report on Tuesday, July 26th. They set a “market perform” rating and a $113.00 target price for the company. Five equities research analysts have rated the stock with a hold rating, thirty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $147.36.

Insider Activity at Alphabet

In related news, Director Ann Mather sold 20 shares of the company’s stock in a transaction dated Monday, June 27th. The shares were sold at an average price of $2,383.32, for a total transaction of $47,666.40. Following the completion of the sale, the director now owns 565 shares of the company’s stock, valued at approximately $1,346,575.80. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Alphabet news, Director Ann Mather sold 20 shares of the business’s stock in a transaction dated Monday, June 27th. The shares were sold at an average price of $2,383.32, for a total value of $47,666.40. Following 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 31 shares of the business’s stock in a transaction dated Monday, May 9th. The shares were sold at an average price of $2,280.98, for a total transaction of $70,710.38. Following the completion of the transaction, the director now owns 265 shares in the company, valued at $604,459.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,584 shares of company stock valued at $11,646,684. Corporate insiders own 11.44% of the company’s stock.

Alphabet 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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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