Marietta Wealth Management LLC Acquires 80,199 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Marietta Wealth Management LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 1,112.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 87,405 shares of the information services provider’s stock after acquiring an additional 80,199 shares during the quarter. Alphabet makes up 2.1% of Marietta Wealth Management LLC’s portfolio, making the stock its 8th biggest position. Marietta Wealth Management LLC’s holdings in Alphabet were worth $8,367,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Bornite Capital Management LP acquired a new stake in shares of Alphabet in the 1st quarter valued at about $16,688,000. Markel Corp raised its stake in shares of Alphabet by 17.0% in the 1st quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock valued at $43,110,000 after purchasing an additional 2,250 shares during the period. United Bank raised its stake in shares of Alphabet by 5.9% in the 1st quarter. United Bank now owns 2,033 shares of the information services provider’s stock valued at $5,654,000 after purchasing an additional 113 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Alphabet by 23.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock valued at $900,929,000 after purchasing an additional 61,427 shares during the period. Finally, Barings LLC grew its holdings in shares of Alphabet by 3.4% in the 1st quarter. Barings LLC now owns 1,564 shares of the information services provider’s stock valued at $4,350,000 after acquiring an additional 51 shares in the last quarter. Institutional investors and hedge funds own 34.06% of the company’s stock.

Alphabet Stock Up 1.3 %

Shares of GOOGL opened at $87.34 on Friday. Alphabet Inc. has a one year low of $83.34 and a one year high of $151.55. The company has a market cap of $1.13 trillion, a P/E ratio of 17.34, a P/E/G ratio of 1.54 and a beta of 1.09. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.52 and a quick ratio of 2.47. The firm has a 50 day simple moving average of $92.64 and a two-hundred day simple moving average of $102.95.

Alphabet (NASDAQ:GOOGLGet Rating) last posted its earnings results on Tuesday, October 25th. The information services provider reported $1.06 earnings per share for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.19). The company had revenue of $57.27 billion for the quarter, compared to the consensus estimate of $58.36 billion. Alphabet had a return on equity of 26.41% and a net margin of 23.75%. During the same period in the previous year, the firm posted $1.40 EPS. Research analysts forecast that Alphabet Inc. will post 4.68 EPS for the current fiscal year.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 855 shares of the business’s stock in a transaction on Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total transaction of $77,933.25. Following the sale, the chief accounting officer now owns 25,122 shares of the company’s stock, valued at $2,289,870.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv acquired 800,000 shares of Alphabet stock in a transaction that occurred on Monday, October 24th. The shares were bought at an average price of $17.00 per share, with a total value of $13,600,000.00. Following the completion of the purchase, the insider now directly owns 11,522,248 shares in the company, valued at approximately $195,878,216. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 855 shares of the business’s stock in a transaction on Wednesday, January 4th. The stock was sold at an average price of $91.15, for a total transaction of $77,933.25. Following the completion of the sale, the chief accounting officer now directly owns 25,122 shares in the company, valued at approximately $2,289,870.30. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 1,461,702 shares of company stock valued at $36,999,217 and have sold 190,744 shares valued at $8,564,640. Insiders own 11.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on GOOGL shares. Wells Fargo & Company decreased their price objective on Alphabet from $160.00 to $145.00 and set an “overweight” rating for the company in a report on Wednesday, October 26th. Credit Suisse Group decreased their price objective on Alphabet from $134.00 to $128.00 and set an “outperform” rating for the company in a report on Wednesday, October 26th. Susquehanna Bancshares decreased their price objective on Alphabet from $150.00 to $120.00 and set a “positive” rating for the company in a report on Wednesday, October 26th. Tigress Financial decreased their price objective on Alphabet from $186.00 to $160.00 and set a “strong-buy” rating for the company in a report on Friday. Finally, Atlantic Securities decreased their price objective on Alphabet to $115.00 in a report on Thursday, October 27th. Five analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $132.00.

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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