Outlook Wealth Advisors LLC Boosts Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Outlook Wealth Advisors LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 1,900.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 12,104 shares of the information services provider’s stock after acquiring an additional 11,499 shares during the period. Outlook Wealth Advisors LLC’s holdings in Alphabet were worth $1,158,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Louisiana State Employees Retirement System purchased a new position in Alphabet during the 3rd quarter worth $55,305,000. Griffin Asset Management Inc. grew its position in Alphabet by 1,900.0% during the 3rd quarter. Griffin Asset Management Inc. now owns 52,240 shares of the information services provider’s stock worth $4,997,000 after purchasing an additional 49,628 shares during the last quarter. Farmers Trust Co. grew its position in Alphabet by 2.2% during the 2nd quarter. Farmers Trust Co. now owns 5,924 shares of the information services provider’s stock worth $12,910,000 after purchasing an additional 129 shares during the last quarter. Ziegler Capital Management LLC lifted its stake in shares of Alphabet by 62.3% in the 2nd quarter. Ziegler Capital Management LLC now owns 33,282 shares of the information services provider’s stock worth $72,531,000 after acquiring an additional 12,774 shares during the period. Finally, Wilkinson Global Asset Management LLC lifted its stake in shares of Alphabet by 1,900.0% in the 3rd quarter. Wilkinson Global Asset Management LLC now owns 6,460 shares of the information services provider’s stock worth $618,000 after acquiring an additional 6,137 shares during the period. 34.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GOOGL has been the subject of several recent analyst reports. Truist Financial reduced their target price on shares of Alphabet from $136.00 to $130.00 and set a “buy” rating for the company in a research note on Wednesday, October 26th. Evercore ISI reduced their target price on shares of Alphabet from $130.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday, December 21st. Cowen reduced their target price on shares of Alphabet to $135.00 in a research note on Thursday, October 27th. Rosenblatt Securities reduced their target price on shares of Alphabet from $156.00 to $130.00 and set a “buy” rating for the company in a research note on Wednesday, October 26th. Finally, Mizuho reduced their price objective on shares of Alphabet from $140.00 to $135.00 and set a “buy” rating for the company in a research note on Wednesday, November 30th. Five analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.00.

Alphabet Price Performance

Alphabet stock opened at $92.12 on Tuesday. Alphabet Inc. has a 1 year low of $83.34 and a 1 year high of $151.55. The firm has a 50 day moving average price of $92.90 and a 200 day moving average price of $102.02. The company has a market cap of $1.19 trillion, a price-to-earnings ratio of 18.29, a PEG ratio of 1.62 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 (NASDAQ:GOOGLGet Rating) last released its quarterly earnings data 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 return on equity of 26.41% and a net margin of 23.75%. The business had revenue of $57.27 billion for the quarter, compared to analysts’ expectations of $58.36 billion. During the same quarter in the prior year, the firm earned $1.40 earnings per share. Sell-side analysts predict that Alphabet Inc. will post 4.68 earnings per share for the current year.

Insiders Place Their Bets

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv acquired 800,000 shares of the firm’s stock in a transaction on Monday, October 24th. The stock was bought at an average cost of $17.00 per share, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 completion of the transaction, the director now directly owns 11,200 shares in the company, valued at $1,156,176. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv bought 800,000 shares of the firm’s stock in a transaction dated Monday, October 24th. The stock was purchased 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 of the company’s stock, valued at approximately $195,878,216. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 1,461,702 shares of company stock worth $36,999,217 and sold 190,744 shares worth $8,564,640. 11.44% of the stock is owned by insiders.

About Alphabet

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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

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGLGet Rating).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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