Steel Peak Wealth Management LLC Acquires 307,425 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Steel Peak Wealth Management LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 1,762.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 324,864 shares of the information services provider’s stock after acquiring an additional 307,425 shares during the quarter. Alphabet makes up approximately 2.3% of Steel Peak Wealth Management LLC’s holdings, making the stock its 8th biggest holding. Steel Peak Wealth Management LLC’s holdings in Alphabet were worth $31,073,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of GOOGL. Cardinal Capital Management Inc. acquired a new stake in shares of Alphabet during the second quarter valued at about $41,000. Belmont Capital LLC boosted its stake in shares of Alphabet by 110.0% during the second quarter. Belmont Capital LLC now owns 21 shares of the information services provider’s stock valued at $46,000 after purchasing an additional 11 shares in the last quarter. Newfound Research LLC boosted its stake in shares of Alphabet by 53.8% during the second quarter. Newfound Research LLC now owns 40 shares of the information services provider’s stock valued at $87,000 after purchasing an additional 14 shares in the last quarter. DC Investments Management LLC acquired a new stake in shares of Alphabet during the first quarter valued at about $114,000. Finally, Bridgefront Capital LLC acquired a new stake in shares of Alphabet during the first quarter valued at about $225,000. 34.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. MKM Partners cut their price objective on Alphabet from $140.00 to $134.00 and set a “buy” rating on the stock in a research note on Wednesday, October 19th. Citigroup cut their price objective on Alphabet from $140.00 to $120.00 and set a “buy” rating on the stock in a research note on Wednesday, October 26th. Susquehanna Bancshares cut their price objective on Alphabet from $150.00 to $120.00 and set a “positive” rating on the stock in a research note on Wednesday, October 26th. Needham & Company LLC cut their price objective on Alphabet from $160.00 to $115.00 and set a “buy” rating on the stock in a research note on Thursday, December 22nd. Finally, Atlantic Securities cut their price objective on Alphabet to $115.00 in a research note on Thursday, October 27th. Five investment analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $132.13.

Alphabet Stock Up 2.1 %

NASDAQ GOOGL 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. Alphabet Inc. has a 12 month low of $83.34 and a 12 month high of $151.55. The stock’s 50 day moving average is $93.00 and its 200 day moving average is $101.63. The stock has a market cap of $1.20 trillion, a PE ratio of 18.48, a P/E/G ratio of 1.62 and a beta of 1.09.

Alphabet (NASDAQ:GOOGLGet Rating) last released its quarterly earnings data 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). Alphabet had a return on equity of 26.41% and a net margin of 23.75%. The firm had revenue of $57.27 billion during the quarter, compared to the consensus estimate of $58.36 billion. During the same period in the previous year, the firm earned $1.40 EPS. Research analysts predict that Alphabet Inc. will post 4.68 EPS for the current fiscal year.

Insider Activity

In other news, Director Ann Mather sold 280 shares of the business’s stock in a transaction that occurred on Tuesday, October 25th. The stock was sold at an average price of $103.23, for a total transaction of $28,904.40. Following the transaction, the director now owns 11,200 shares of the company’s stock, valued at approximately $1,156,176. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Ann Mather sold 280 shares of the business’s stock in a transaction that occurred on Tuesday, October 25th. The stock was sold at an average price of $103.23, for a total transaction of $28,904.40. Following the transaction, the director now owns 11,200 shares of the company’s stock, valued at approximately $1,156,176. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 855 shares of the business’s stock in a transaction that occurred on Wednesday, November 2nd. The shares were sold at an average price of $90.85, for a total value of $77,676.75. Following the transaction, the chief accounting officer now directly owns 24,694 shares in the company, valued at approximately $2,243,449.90. The disclosure for this sale can be found here. In 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. Corporate insiders own 11.44% of the company’s stock.

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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