Galvin Gaustad & Stein LLC Has $6.03 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Galvin Gaustad & Stein LLC raised its position in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 2,326.7% during the third quarter, Holdings Channel reports. The firm owned 63,022 shares of the information services provider’s stock after purchasing an additional 60,425 shares during the period. Galvin Gaustad & Stein LLC’s holdings in Alphabet were worth $6,028,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GOOGL. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Alphabet by 1,884.3% in the 3rd 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 purchasing an additional 17,019,726 shares during the period. Fiera Capital Corp lifted its position in shares of Alphabet by 1,957.3% in the 2nd quarter. Fiera Capital Corp now owns 17,857,280 shares of the information services provider’s stock worth $1,945,783,000 after purchasing an additional 16,989,271 shares during the period. Nordea Investment Management AB lifted its position in shares of Alphabet by 1,830.2% in the 3rd quarter. Nordea Investment Management AB now owns 16,487,668 shares of the information services provider’s stock worth $1,605,074,000 after purchasing an additional 15,633,495 shares during the period. Raymond James & Associates lifted its position in shares of Alphabet by 1,927.0% during the 3rd quarter. Raymond James & Associates now owns 8,284,714 shares of the information services provider’s stock valued at $792,433,000 after acquiring an additional 7,875,993 shares during the period. Finally, Mackenzie Financial Corp lifted its position in shares of Alphabet by 1,876.5% during the 3rd quarter. Mackenzie Financial Corp now owns 7,170,066 shares of the information services provider’s stock valued at $685,817,000 after acquiring an additional 6,807,300 shares during the period. Institutional investors and hedge funds own 34.06% of the company’s stock.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 855 shares of Alphabet stock in a transaction dated Wednesday, January 4th. The stock was sold at an average price of $91.15, for a total value 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 approximately $2,289,870.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CAO Amie Thuener O’toole sold 855 shares of Alphabet stock in a transaction dated Wednesday, January 4th. The stock was sold at an average price of $91.15, for a total value 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 approximately $2,289,870.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of Alphabet stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $38.64, for a total value of $4,149,665.52. The disclosure for this sale can be found here. In the last quarter, 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

GOOGL has been the topic of a number of research reports. KeyCorp dropped their target price on shares of Alphabet from $125.00 to $120.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 25th. Cowen dropped their target price on shares of Alphabet to $135.00 in a research report on Thursday, October 27th. Sanford C. Bernstein dropped their target price on shares of Alphabet from $130.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 26th. Atlantic Securities dropped their target price on shares of Alphabet to $115.00 in a research report on Thursday, October 27th. Finally, StockNews.com initiated coverage on shares of Alphabet in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Five 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 company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $132.13.

Alphabet Stock Performance

Shares of Alphabet stock opened at $93.05 on Friday. The company has a current ratio of 2.52, a quick ratio of 2.47 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $1.20 trillion, a P/E ratio of 18.48, a P/E/G ratio of 1.62 and a beta of 1.09. The business has a fifty day simple moving average of $93.00 and a two-hundred day simple moving average of $101.63. Alphabet Inc. has a 12 month low of $83.34 and a 12 month high of $151.55.

Alphabet (NASDAQ:GOOGL – Get Rating) last posted its quarterly earnings results 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). The company had revenue of $57.27 billion during the quarter, compared to analysts’ expectations of $58.36 billion. Alphabet had a return on equity of 26.41% and a net margin of 23.75%. During the same period in the prior year, the firm earned $1.40 EPS. On average, equities analysts forecast that Alphabet Inc. will post 4.68 earnings per share for the current fiscal year.

Alphabet Company 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.