Parsons Capital Management Inc. RI Raises Position in Alphabet Inc. (NASDAQ:GOOGL)

Parsons Capital Management Inc. RI boosted its stake in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 1,912.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 133,954 shares of the information services provider’s stock after buying an additional 127,297 shares during the quarter. Alphabet comprises 1.2% of Parsons Capital Management Inc. RI’s holdings, making the stock its 13th largest holding. Parsons Capital Management Inc. RI’s holdings in Alphabet were worth $12,813,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of GOOGL. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of 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 increased its stake in shares of 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 increased its stake in shares of 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. Raymond James & Associates increased its stake in shares of 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. Finally, Mackenzie Financial Corp increased its stake in shares of Alphabet by 1,876.5% during the third quarter. Mackenzie Financial Corp now owns 7,170,066 shares of the information services provider’s stock valued at $685,817,000 after purchasing an additional 6,807,300 shares in the last quarter. 34.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 855 shares of the business’s stock in a transaction dated Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total value of $77,933.25. Following the sale, the chief accounting officer now directly owns 25,122 shares in the company, valued at approximately $2,289,870.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CAO Amie Thuener O’toole sold 855 shares of Alphabet stock in a transaction dated 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 directly owns 25,122 shares of the company’s stock, valued at approximately $2,289,870.30. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 shares were purchased 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 approximately $195,878,216. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 1,461,702 shares of company stock worth $36,999,217 and have sold 190,744 shares worth $8,564,640. Insiders own 11.44% of the company’s stock.

Alphabet Stock Performance

Alphabet stock opened at $93.05 on Friday. The company’s 50-day moving average price is $93.00 and its 200-day moving average price is $101.63. Alphabet Inc. has a twelve month low of $83.34 and a twelve month high of $151.55. 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 company has a market cap of $1.20 trillion, a PE ratio of 18.48, a price-to-earnings-growth ratio of 1.62 and a beta of 1.09.

Alphabet (NASDAQ:GOOGLGet Rating) last posted its earnings results 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). Alphabet had a return on equity of 26.41% and a net margin of 23.75%. The business had revenue of $57.27 billion during the quarter, compared to the consensus estimate of $58.36 billion. During the same quarter last year, the firm earned $1.40 earnings per share. On average, equities research analysts forecast that Alphabet Inc. will post 4.68 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on GOOGL shares. Tigress Financial decreased their target price on shares of Alphabet from $186.00 to $160.00 and set a “strong-buy” rating for the company in a research note on Friday, January 6th. Rosenblatt Securities reduced their price target on shares of Alphabet from $156.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday, October 26th. Susquehanna reduced their price target on shares of Alphabet from $150.00 to $120.00 and set a “positive” rating for the company in a research report on Wednesday, October 26th. Morgan Stanley raised their price target on shares of Alphabet from $120.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Bank of America reduced their price target on shares of Alphabet from $125.00 to $114.00 and set a “buy” rating for the company in a research report on Tuesday, October 4th. Five 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.13.

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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