Alphabet Inc. (NASDAQ:GOOGL) is Adams Diversified Equity Fund Inc.’s 3rd Largest Position

Adams Diversified Equity Fund Inc. grew its holdings in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1,762.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 834,300 shares of the information services provider’s stock after buying an additional 789,500 shares during the quarter. Alphabet accounts for 4.0% of Adams Diversified Equity Fund Inc.’s investment portfolio, making the stock its 3rd largest position. Adams Diversified Equity Fund Inc.’s holdings in Alphabet were worth $79,801,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bornite Capital Management LP purchased a new stake in shares of Alphabet during the first quarter worth approximately $16,688,000. Markel Corp boosted its stake in Alphabet by 17.0% during the first quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock worth $43,110,000 after buying an additional 2,250 shares during the last quarter. United Bank boosted its stake in Alphabet by 5.9% during the first quarter. United Bank now owns 2,033 shares of the information services provider’s stock worth $5,654,000 after buying an additional 113 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Alphabet by 23.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock worth $900,929,000 after buying an additional 61,427 shares during the last quarter. Finally, Dakota Wealth Management boosted its stake in Alphabet by 20.4% during the first quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock worth $25,806,000 after buying an additional 1,570 shares during the last quarter. 34.06% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related 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, with a total value of $13,600,000.00. Following the transaction, the insider now owns 11,522,248 shares of the company’s stock, valued at $195,878,216. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv purchased 800,000 shares of Alphabet stock in a transaction dated Monday, October 24th. The stock was acquired at an average cost of $17.00 per share, with a total value of $13,600,000.00. Following the acquisition, the insider now directly owns 11,522,248 shares of the company’s stock, valued at $195,878,216. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 completion of the sale, the senior vice president now directly owns 76,579 shares of the company’s stock, valued at $6,872,965.25. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 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 insiders.

Analyst Ratings Changes

A number of research firms have weighed in on GOOGL. Wells Fargo & Company lowered their price objective on Alphabet from $160.00 to $145.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 26th. Evercore ISI lowered their price objective on Alphabet from $130.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 21st. Tigress Financial lowered their price objective on Alphabet from $186.00 to $160.00 and set a “strong-buy” rating on the stock in a research note on Friday, January 6th. MKM Partners decreased their price target on Alphabet from $140.00 to $134.00 and set a “buy” rating on the stock in a research note on Wednesday, October 19th. Finally, JMP Securities decreased their price target on Alphabet from $145.00 to $132.00 in a research note on Wednesday, November 23rd. Five research analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $132.13.

Alphabet Trading Up 2.1 %

GOOGL opened at $93.05 on Friday. The company has a market cap of $1.20 trillion, a P/E ratio of 18.48, 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 Inc. has a one year low of $83.34 and a one year high of $151.55. The business’s 50-day simple moving average is $93.00 and its 200-day simple moving average is $101.63.

Alphabet (NASDAQ:GOOGL – Get 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 analysts’ consensus estimates of $1.25 by ($0.19). The firm had revenue of $57.27 billion during the quarter, compared to analyst estimates of $58.36 billion. Alphabet had a net margin of 23.75% and a return on equity of 26.41%. During the same period last year, the company earned $1.40 earnings per share. As a group, equities research analysts expect that Alphabet Inc. will post 4.68 EPS for the current fiscal year.

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.