Alphabet Inc. (NASDAQ:GOOGL) Position Raised by Deltec Asset Management LLC

Deltec Asset Management LLC increased its holdings in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 1,937.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 274,100 shares of the information services provider’s stock after acquiring an additional 260,645 shares during the quarter. Alphabet comprises 6.4% of Deltec Asset Management LLC’s investment portfolio, making the stock its 2nd biggest position. Deltec Asset Management LLC’s holdings in Alphabet were worth $26,218,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in GOOGL. Spreng Capital Management Inc. grew its stake in shares of Alphabet by 4.0% in the first quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock worth $364,000 after purchasing an additional 5 shares during the last quarter. Grand Central Investment Group grew its stake in shares of Alphabet by 1.4% in the second quarter. Grand Central Investment Group now owns 362 shares of the information services provider’s stock worth $789,000 after purchasing an additional 5 shares during the last quarter. Ignite Planners LLC grew its stake in shares of Alphabet by 1.4% in the second quarter. Ignite Planners LLC now owns 351 shares of the information services provider’s stock worth $834,000 after purchasing an additional 5 shares during the last quarter. Kaizen Financial Strategies grew its stake in shares of Alphabet by 0.7% in the second quarter. Kaizen Financial Strategies now owns 759 shares of the information services provider’s stock worth $1,654,000 after purchasing an additional 5 shares during the last quarter. Finally, West Family Investments Inc. grew its stake in shares of Alphabet by 0.3% in the first quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock worth $4,878,000 after purchasing an additional 6 shares during the last quarter. Hedge funds and other institutional investors own 34.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Royal Bank of Canada cut their price objective on Alphabet from $135.00 to $130.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 26th. Citigroup cut their price objective on Alphabet from $140.00 to $120.00 and set a “buy” rating on the stock in a research report on Wednesday, October 26th. 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 report on Wednesday, October 19th. The Goldman Sachs Group cut their price objective on Alphabet to $135.00 in a research report on Thursday, October 27th. Finally, Rosenblatt Securities cut their price objective on Alphabet from $156.00 to $130.00 and set a “buy” 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $132.13.

Alphabet Price Performance

Shares of GOOGL opened at $98.02 on Friday. The firm has a market cap of $1.27 trillion, a PE ratio of 19.47, a P/E/G 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. The firm has a fifty day simple moving average of $93.03 and a two-hundred day simple moving average of $101.55. Alphabet Inc. has a 1-year low of $83.34 and a 1-year high of $151.55.

Alphabet (NASDAQ:GOOGLGet Rating) last issued 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 net margin of 23.75% and a return on equity of 26.41%. The business had revenue of $57.27 billion for 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. On average, equities analysts anticipate that Alphabet Inc. will post 4.68 EPS for the current year.

Insider Activity

In other news, Director Ann Mather sold 280 shares of the business’s stock in a transaction on Tuesday, October 25th. The shares were sold at an average price of $103.23, for a total transaction of $28,904.40. Following the completion of the sale, the director now owns 11,200 shares of the company’s stock, valued at approximately $1,156,176. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Ann Mather sold 280 shares of the company’s stock in a transaction on Tuesday, October 25th. The shares were sold at an average price of $103.23, for a total value of $28,904.40. Following the completion of the transaction, the director now owns 11,200 shares of the company’s stock, valued at approximately $1,156,176. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $1,992,719.25. Following the completion of the transaction, the senior vice president now directly owns 76,579 shares of the company’s stock, valued at approximately $6,872,965.25. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 1,461,702 shares of company stock valued at $36,999,217 and sold 190,744 shares valued at $8,564,640. Insiders own 11.44% of the company’s stock.

About Alphabet

(Get Rating)

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.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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