Advisor Resource Council Buys 2,712 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Advisor Resource Council grew its stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 83.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,949 shares of the information services provider’s stock after acquiring an additional 2,712 shares during the quarter. Advisor Resource Council’s holdings in Alphabet were worth $569,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in GOOGL. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in 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 boosted its holdings in 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 boosted its holdings in 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. Raymond James & Associates boosted its holdings in Alphabet by 1,927.0% in the third quarter. Raymond James & Associates now owns 8,284,714 shares of the information services provider’s stock worth $792,433,000 after acquiring an additional 7,875,993 shares in the last quarter. Finally, Mackenzie Financial Corp boosted 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 worth $685,817,000 after acquiring an additional 6,807,300 shares in the last quarter. 34.06% of the stock is owned by institutional investors.

Insider Activity at Alphabet

In other news, major shareholder 2019 Gp L.L.C. Gv purchased 800,000 shares of the company’s stock in a transaction that occurred on Monday, October 24th. The stock was 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 owns 11,522,248 shares in the company, valued at $195,878,216. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Alphabet news, Director Ann Mather sold 280 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 11,200 shares in the company, valued at $1,156,176. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 shares were bought at an average price of $17.00 per share, for a total transaction of $13,600,000.00. Following the completion of the transaction, the insider now owns 11,522,248 shares of the company’s stock, valued at $195,878,216. The disclosure for this purchase can be found here. Over 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.

Alphabet Stock Performance

NASDAQ GOOGL opened at $93.05 on Friday. The firm has a market cap of $1.20 trillion, a price-to-earnings ratio of 18.48, a price-to-earnings-growth ratio of 1.62 and a beta of 1.09. The company has a quick ratio of 2.47, a current ratio of 2.52 and a debt-to-equity ratio of 0.06. The business has a 50-day moving average price of $93.00 and a 200-day moving average price of $101.63. Alphabet Inc. has a twelve month low of $83.34 and a twelve month high of $151.55.

Alphabet (NASDAQ:GOOGL – Get Rating) last released its quarterly earnings data 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 business had revenue of $57.27 billion during 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 last year, the company earned $1.40 EPS. As a group, equities research analysts predict that Alphabet Inc. will post 4.68 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on GOOGL shares. KeyCorp decreased their price target on Alphabet from $125.00 to $120.00 and set an “overweight” rating for the company in a research note on Tuesday, October 25th. Susquehanna decreased their price target on Alphabet from $150.00 to $120.00 and set a “positive” rating for the company in a research note on Wednesday, October 26th. Bank of America decreased their price target on Alphabet from $125.00 to $114.00 and set a “buy” rating for the company in a research note on Tuesday, October 4th. Evercore ISI decreased their price target on Alphabet from $130.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday, December 21st. Finally, Rosenblatt Securities decreased their price target on Alphabet from $156.00 to $130.00 and set a “buy” rating for the company in a research note on Wednesday, October 26th. Five investment analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.13.

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.