Alphabet Inc. (NASDAQ:GOOGL) Shares Purchased by Riverbridge Partners LLC

Riverbridge Partners LLC boosted its position in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 2,333.1% during the third quarter, Holdings Channel.com reports. The fund owned 463,317 shares of the information services provider’s stock after purchasing an additional 444,275 shares during the quarter. Riverbridge Partners LLC’s holdings in Alphabet were worth $44,316,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Artemis Wealth Advisors LLC lifted its stake in shares of Alphabet by 1,900.0% during the third quarter. Artemis Wealth Advisors LLC now owns 280 shares of the information services provider’s stock worth $27,000 after purchasing an additional 266 shares in the last quarter. Horizons Wealth Management acquired a new position in shares of Alphabet during the second quarter worth about $33,000. Schubert & Co lifted its stake in shares of Alphabet by 1,200.0% during the third quarter. Schubert & Co now owns 364 shares of the information services provider’s stock worth $35,000 after purchasing an additional 336 shares in the last quarter. Carolina Wealth Advisors LLC lifted its stake in shares of Alphabet by 1,900.0% during the third quarter. Carolina Wealth Advisors LLC now owns 400 shares of the information services provider’s stock worth $38,000 after purchasing an additional 380 shares in the last quarter. Finally, Cardinal Capital Management Inc. acquired a new position in shares of Alphabet during the second quarter worth about $41,000. Institutional investors and hedge funds own 34.06% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $93.05 on Friday. The firm has a 50 day moving average of $93.00 and a 200-day moving average of $101.63. The stock has a market capitalization of $1.20 trillion, a PE ratio of 18.48, a PEG ratio of 1.62 and a beta of 1.09. 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 Inc. has a 12 month low of $83.34 and a 12 month high of $151.55.

Alphabet (NASDAQ:GOOGLGet Rating) last issued its earnings results on Tuesday, October 25th. The information services provider reported $1.06 EPS for the quarter, missing the consensus estimate 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 quarter in the previous year, the firm posted $1.40 earnings per share. On average, equities research analysts predict that Alphabet Inc. will post 4.68 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Prabhakar Raghavan sold 22,203 shares of the company’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 transaction of $1,992,719.25. Following the completion of the transaction, the senior vice president now directly owns 76,579 shares in the company, valued at approximately $6,872,965.25. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, SVP Prabhakar Raghavan sold 22,203 shares of the company’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 transaction of $1,992,719.25. Following the completion of the transaction, the senior vice president now directly owns 76,579 shares in the company, valued at approximately $6,872,965.25. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 855 shares of the company’s stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total transaction of $77,933.25. Following the completion of the transaction, the chief accounting officer now owns 25,122 shares of the company’s stock, valued at $2,289,870.30. The disclosure for this sale can be found here. In the last three months, insiders purchased 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 corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Atlantic Securities reduced their price objective on Alphabet to $115.00 in a research note on Thursday, October 27th. Robert W. Baird dropped their target price on Alphabet to $120.00 in a research report on Thursday, October 27th. Mizuho dropped 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. Bank of America dropped their target price on Alphabet from $125.00 to $114.00 and set a “buy” rating on the stock in a research report on Tuesday, October 4th. Finally, Susquehanna dropped their target price on Alphabet from $150.00 to $120.00 and set a “positive” rating on the stock in a research report on Wednesday, October 26th. Five investment analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average 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.

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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