Scharf Investments LLC Acquires 8,782 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Scharf Investments LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 1,759.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 9,281 shares of the information services provider’s stock after buying an additional 8,782 shares during the period. Scharf Investments LLC’s holdings in Alphabet were worth $888,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Spreng Capital Management Inc. lifted its holdings in shares of Alphabet by 4.0% during the 1st quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock valued at $364,000 after purchasing an additional 5 shares during the last quarter. WP Advisors LLC lifted its holdings in shares of Alphabet by 2.1% during the 2nd quarter. WP Advisors LLC now owns 239 shares of the information services provider’s stock valued at $521,000 after purchasing an additional 5 shares during the last quarter. Grand Central Investment Group lifted its holdings in shares of Alphabet by 1.4% during the 2nd quarter. Grand Central Investment Group now owns 362 shares of the information services provider’s stock valued at $789,000 after purchasing an additional 5 shares during the last quarter. Ignite Planners LLC lifted its holdings in shares of Alphabet by 1.4% during the 2nd quarter. Ignite Planners LLC now owns 351 shares of the information services provider’s stock valued at $834,000 after purchasing an additional 5 shares during the last quarter. Finally, Kaizen Financial Strategies increased its position in shares of Alphabet by 0.7% in the 2nd quarter. Kaizen Financial Strategies now owns 759 shares of the information services provider’s stock valued at $1,654,000 after acquiring an additional 5 shares during the period. Institutional investors own 34.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on GOOGL. Credit Suisse Group cut their target price on Alphabet from $134.00 to $128.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 26th. Mizuho cut their target price on Alphabet from $140.00 to $135.00 and set a “buy” rating on the stock in a research report on Wednesday, November 30th. KeyCorp cut their target price on Alphabet from $125.00 to $120.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 25th. Wells Fargo & Company cut their target price on Alphabet from $160.00 to $145.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 26th. Finally, Cowen cut their target price on Alphabet to $135.00 in a research report on Thursday, October 27th. Five 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 company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $132.00.

Alphabet Trading Up 1.1 %

Shares of Alphabet stock opened at $92.12 on Monday. The firm has a market capitalization of $1.19 trillion, a PE ratio of 18.29, a P/E/G ratio of 1.62 and a beta of 1.09. Alphabet Inc. has a twelve month low of $83.34 and a twelve month high of $151.55. The firm’s 50-day moving average price is $92.82 and its 200 day moving average price is $102.19. The company has a current ratio of 2.52, a quick ratio of 2.47 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOGLGet Rating) last issued its quarterly 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 during the quarter, compared to analysts’ expectations of $58.36 billion. Alphabet had a net margin of 23.75% and a return on equity of 26.41%. During the same period in the prior year, the business posted $1.40 earnings per share. On average, sell-side analysts predict that Alphabet Inc. will post 4.68 EPS for the current fiscal year.

Insiders Place Their Bets

In other Alphabet news, Director Ann Mather sold 280 shares of the firm’s stock in a transaction that occurred 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 approximately $1,156,176. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 22,203 shares of the firm’s stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $89.75, for a total value of $1,992,719.25. Following the transaction, the senior vice president now directly owns 76,579 shares of the company’s stock, valued at approximately $6,872,965.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ann Mather sold 280 shares of Alphabet stock in a transaction that occurred on Tuesday, October 25th. The shares were sold at an average price of $103.23, for a total transaction of $28,904.40. Following the sale, the director now directly owns 11,200 shares in the company, valued at approximately $1,156,176. The disclosure for this sale can be found here. In the last ninety days, insiders have acquired 1,461,702 shares of company stock valued at $36,999,217 and have sold 190,744 shares valued at $8,564,640. 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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