TriaGen Wealth Management LLC Grows Position in Alphabet Inc. (NASDAQ:GOOGL)

TriaGen Wealth Management LLC increased its holdings in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 1,882.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,580 shares of the information services provider’s stock after purchasing an additional 4,349 shares during the period. TriaGen Wealth Management LLC’s holdings in Alphabet were worth $438,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. boosted its holdings 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 acquiring an additional 331,945 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Alphabet by 1,884.3% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 17,922,978 shares of the information services provider’s stock worth $1,714,333,000 after acquiring an additional 17,019,726 shares in the last quarter. Fiera Capital Corp lifted its stake in shares of Alphabet by 1,957.3% in 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 acquiring an additional 16,989,271 shares in the last quarter. Nordea Investment Management AB lifted its stake in shares of Alphabet by 1,830.2% in 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 acquiring an additional 15,633,495 shares in the last quarter. Finally, Mackenzie Financial Corp increased its holdings in Alphabet by 1,876.5% in the third quarter. Mackenzie Financial Corp now owns 7,170,066 shares of the information services provider’s stock valued at $685,817,000 after buying an additional 6,807,300 shares during the last quarter. Hedge funds and other institutional investors own 34.06% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $88.42 on Wednesday. The company’s fifty day moving average is $92.47 and its two-hundred day moving average is $102.65. The company has a quick ratio of 2.47, a current ratio of 2.52 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a 12-month low of $83.34 and a 12-month high of $151.55. The company has a market cap of $1.14 trillion, a P/E ratio of 17.56, a price-to-earnings-growth ratio of 1.53 and a beta of 1.09.

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

Analyst Upgrades and Downgrades

Several research firms have recently commented on GOOGL. Citigroup lowered their target price on Alphabet from $140.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, October 26th. Susquehanna Bancshares lowered their target price 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 lowered their target price on Alphabet from $186.00 to $160.00 and set a “strong-buy” rating for the company in a report on Friday, January 6th. Cowen lowered their target price on Alphabet to $135.00 in a report on Thursday, October 27th. Finally, Sanford C. Bernstein lowered their target price on Alphabet from $130.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, October 26th. 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 company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $132.00.

Insider Buying and Selling at Alphabet

In other news, Director Ann Mather sold 280 shares of the company’s stock in a transaction on Tuesday, October 25th. The shares were sold at an average price of $103.23, for a total value of $28,904.40. Following the transaction, the director now directly owns 11,200 shares of the company’s stock, valued at $1,156,176. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, major shareholder 2019 Gp L.L.C. Gv purchased 800,000 shares of the company’s stock in a transaction dated Monday, October 24th. The shares were acquired 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 owns 11,522,248 shares of the company’s stock, valued at approximately $195,878,216. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ann Mather sold 280 shares of the company’s stock in a transaction on Tuesday, October 25th. The stock was sold at an average price of $103.23, for a total transaction of $28,904.40. Following the completion of the transaction, the director now directly owns 11,200 shares in the company, valued at $1,156,176. The disclosure for this sale can be found here. In the last three months, insiders have bought 1,461,702 shares of company stock valued at $36,999,217 and have sold 190,744 shares valued at $8,564,640. Company 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.

See Also

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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