Lancaster Investment Management Purchases New Shares in Alphabet Inc. (NASDAQ:GOOGL)

Lancaster Investment Management bought a new stake in Alphabet Inc. (NASDAQ:GOOGLGet Rating) during the 2nd quarter, HoldingsChannel reports. The firm bought 112 shares of the information services provider’s stock, valued at approximately $244,000. Alphabet accounts for 0.3% of Lancaster Investment Management’s investment portfolio, making the stock its 5th biggest holding.

Several other institutional investors have also modified their holdings of GOOGL. Dravo Bay LLC acquired a new stake in shares of Alphabet in the first quarter valued at about $28,000. Financial Enhancement Group LLC acquired a new stake in shares of Alphabet in the first quarter valued at about $31,000. Wealthgate Family Office LLC acquired a new stake in shares of Alphabet in the fourth quarter valued at about $32,000. Verity Asset Management Inc. grew its position in shares of Alphabet by 536,206.4% in the first quarter. Verity Asset Management Inc. now owns 589,937 shares of the information services provider’s stock valued at $39,000 after purchasing an additional 589,827 shares during the period. Finally, Advocacy Wealth Management Services LLC lifted its stake in shares of Alphabet by 72.7% in the second quarter. Advocacy Wealth Management Services LLC now owns 19 shares of the information services provider’s stock worth $41,000 after buying an additional 8 shares in the last quarter. Institutional investors and hedge funds own 1.88% of the company’s stock.

Wall Street Analyst Weigh In

GOOGL has been the topic of several research reports. BNP Paribas downgraded shares of Alphabet from an “outperform” rating to a “neutral” rating and set a $118.00 price target on the stock. in a research note on Wednesday, July 20th. MKM Partners decreased their price target on shares of Alphabet from $165.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, July 18th. UBS Group decreased their price target on shares of Alphabet from $133.00 to $132.00 and set a “buy” rating on the stock in a research note on Wednesday, July 27th. JMP Securities decreased their price target on shares of Alphabet from $165.00 to $160.00 and set a “market outperform” rating on the stock in a research note on Thursday, June 30th. Finally, Susquehanna decreased their price target on shares of Alphabet from $187.50 to $150.00 and set a “positive” rating on the stock in a research note on Wednesday, July 27th. Five research analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $147.41.

Alphabet Trading Down 0.1 %

Shares of Alphabet stock opened at $102.80 on Monday. The company has a fifty day simple moving average of $112.93 and a 200-day simple moving average of $118.84. Alphabet Inc. has a 12-month low of $100.94 and a 12-month high of $151.55. 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 stock has a market cap of $1.34 trillion, a price-to-earnings ratio of 19.13, a PEG ratio of 1.66 and a beta of 1.09.

Alphabet (NASDAQ:GOOGLGet Rating) last issued its earnings results on Tuesday, July 26th. The information services provider reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.06). Alphabet had a net margin of 25.89% and a return on equity of 28.65%. The company had revenue of $57.47 billion during the quarter, compared to analyst estimates of $57.55 billion. During the same quarter in the previous year, the company posted $27.26 EPS. On average, equities analysts forecast that Alphabet Inc. will post 5.21 EPS for the current fiscal year.

Insider Activity

In related news, Director Ann Mather sold 300 shares of the company’s stock in a transaction on Monday, July 25th. The shares were sold at an average price of $108.94, for a total value of $32,682.00. Following the completion of the sale, the director now owns 11,360 shares in the company, valued at approximately $1,237,558.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CAO Amie Thuener O’toole sold 42 shares of the company’s stock in a transaction on Friday, July 1st. The shares were sold at an average price of $2,166.74, for a total value of $91,003.08. Following the completion of the sale, the chief accounting officer now owns 1,192 shares in the company, valued at approximately $2,582,754.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Ann Mather sold 300 shares of the company’s stock in a transaction on Monday, July 25th. The shares were sold at an average price of $108.94, for a total transaction of $32,682.00. Following the completion of the sale, the director now owns 11,360 shares of the company’s stock, valued at approximately $1,237,558.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,536 shares of company stock worth $15,729,998. Corporate insiders own 11.44% of the company’s stock.

About Alphabet

(Get Rating)

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.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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