Alphabet Inc. (NASDAQ:GOOGL) Stake Boosted by Bell & Brown Wealth Advisors LLC

Bell & Brown Wealth Advisors LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1,639.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 56,900 shares of the information services provider’s stock after buying an additional 53,628 shares during the period. Alphabet comprises approximately 3.4% of Bell & Brown Wealth Advisors LLC’s holdings, making the stock its 6th largest holding. Bell & Brown Wealth Advisors LLC’s holdings in Alphabet were worth $5,442,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Alphabet by 1.4% during the first quarter. Vanguard Group Inc. now owns 23,304,411 shares of the information services provider’s stock valued at $64,817,723,000 after purchasing an additional 331,945 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Alphabet by 1,884.3% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 17,922,978 shares of the information services provider’s stock valued at $1,714,333,000 after purchasing an additional 17,019,726 shares in the last quarter. Fiera Capital Corp boosted its position in Alphabet by 1,957.3% during the second quarter. Fiera Capital Corp now owns 17,857,280 shares of the information services provider’s stock valued at $1,945,783,000 after purchasing an additional 16,989,271 shares in the last quarter. Nordea Investment Management AB boosted its position in Alphabet by 1,830.2% during the third quarter. Nordea Investment Management AB now owns 16,487,668 shares of the information services provider’s stock valued at $1,605,074,000 after purchasing an additional 15,633,495 shares in the last quarter. Finally, Raymond James & Associates boosted its position in Alphabet by 1,927.0% during the third quarter. Raymond James & Associates now owns 8,284,714 shares of the information services provider’s stock valued at $792,433,000 after purchasing an additional 7,875,993 shares in the last quarter. Hedge funds and other institutional investors own 34.06% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, SVP Prabhakar Raghavan sold 22,203 shares of the business’s stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the transaction, the senior vice president now owns 76,579 shares of the company’s stock, valued at $6,872,965.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Prabhakar Raghavan sold 22,203 shares of the company’s stock in a transaction on Tuesday, January 3rd. The stock was 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 owns 76,579 shares of the company’s stock, valued at approximately $6,872,965.25. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv purchased 800,000 shares of the firm’s stock in a transaction dated Monday, October 24th. The stock was acquired at an average cost of $17.00 per share, for a total transaction of $13,600,000.00. Following the purchase, the insider now owns 11,522,248 shares in the company, valued at $195,878,216. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 1,461,702 shares of company stock valued at $36,999,217 and have sold 190,744 shares valued at $8,564,640. 11.44% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Citigroup lowered their price target on Alphabet from $140.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, October 26th. Cowen lowered their price target on Alphabet to $135.00 in a report on Thursday, October 27th. StockNews.com assumed coverage on Alphabet in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Tigress Financial decreased their target price on Alphabet from $186.00 to $160.00 and set a “strong-buy” rating for the company in a report on Friday, January 6th. Finally, Royal Bank of Canada decreased their target price on Alphabet from $135.00 to $130.00 and set an “outperform” rating for the company in a report 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.13.

Alphabet Stock Performance

NASDAQ GOOGL opened at $93.05 on Friday. The stock’s fifty day moving average is $93.00 and its two-hundred day moving average is $101.63. The firm has a market capitalization of $1.20 trillion, a P/E ratio of 18.48, a price-to-earnings-growth 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 fifty-two week low of $83.34 and a fifty-two week 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 company had revenue of $57.27 billion for the quarter, compared to analyst estimates 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 firm posted $1.40 EPS. On average, research analysts anticipate that Alphabet Inc. will post 4.68 earnings per share for the current year.

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.