Diamant Asset Management Inc. Buys 38,023 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Diamant Asset Management Inc. raised its holdings in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 1,966.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,957 shares of the information services provider’s stock after buying an additional 38,023 shares during the period. Alphabet comprises about 3.7% of Diamant Asset Management Inc.’s holdings, making the stock its 6th largest position. Diamant Asset Management Inc.’s holdings in Alphabet were worth $3,822,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Alphabet by 1.4% in the first quarter. Vanguard Group Inc. now owns 23,304,411 shares of the information services provider’s stock valued at $64,817,723,000 after buying an additional 331,945 shares in the last quarter. Fiera Capital Corp grew its holdings in shares of Alphabet by 1,957.3% during the second quarter. Fiera Capital Corp now owns 17,857,280 shares of the information services provider’s stock worth $1,945,783,000 after purchasing an additional 16,989,271 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of Alphabet by 1,830.2% during the third quarter. Nordea Investment Management AB now owns 16,487,668 shares of the information services provider’s stock worth $1,605,074,000 after purchasing an additional 15,633,495 shares during the last quarter. Mackenzie Financial Corp grew its holdings in shares of Alphabet by 1,876.5% during the third quarter. Mackenzie Financial Corp now owns 7,170,066 shares of the information services provider’s stock worth $685,817,000 after purchasing an additional 6,807,300 shares during the last quarter. Finally, Bishop Rock Capital L.P. grew its holdings in shares of Alphabet by 95,776.8% during the second quarter. Bishop Rock Capital L.P. now owns 5,500,452 shares of the information services provider’s stock worth $2,524,000 after purchasing an additional 5,494,715 shares during the last quarter. 34.06% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 855 shares of Alphabet stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total value of $77,933.25. Following the completion of the sale, the chief accounting officer now directly owns 25,122 shares of the company’s stock, valued at approximately $2,289,870.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other 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 completion of the sale, the chief accounting officer now directly owns 25,122 shares of the company’s stock, valued at approximately $2,289,870.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder 2019 Gp L.L.C. Gv acquired 800,000 shares of the stock in a transaction dated Monday, October 24th. The shares were bought at an average cost 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 $195,878,216. The disclosure for this purchase can be found here. In the last three months, insiders bought 1,461,702 shares of company stock valued at $36,999,217 and sold 190,744 shares valued at $8,564,640. 11.44% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Cowen dropped their price objective on Alphabet to $135.00 in a report on Thursday, October 27th. Robert W. Baird dropped their price objective on Alphabet to $120.00 in a report on Thursday, October 27th. Citigroup lowered their price target on Alphabet from $140.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday, October 26th. KeyCorp lowered their price target on Alphabet from $125.00 to $120.00 and set an “overweight” rating on the stock in a report on Tuesday, October 25th. Finally, Atlantic Securities lowered their price target on Alphabet to $115.00 in a report on Thursday, October 27th. Five investment analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $132.00.

Alphabet Stock Up 1.3 %

GOOGL stock opened at $87.34 on Monday. The stock has a market capitalization of $1.13 trillion, a P/E ratio of 17.34, a PEG ratio of 1.53 and a beta of 1.09. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.47 and a current ratio of 2.52. Alphabet Inc. has a one year low of $83.34 and a one year high of $151.55. The company has a 50 day moving average price of $92.64 and a two-hundred day moving average price of $102.95.

Alphabet (NASDAQ:GOOGLGet Rating) last released its earnings results on Tuesday, October 25th. The information services provider reported $1.06 EPS for the quarter, missing the consensus estimate of $1.25 by ($0.19). The firm had revenue of $57.27 billion during the quarter, compared to analysts’ expectations 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 earnings per share. As a group, sell-side analysts expect that Alphabet Inc. will post 4.68 EPS for the current year.

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.

Further Reading

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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