Alphabet Inc. (NASDAQ:GOOGL) Shares Acquired by Connable Office Inc.

Connable Office Inc. increased its holdings in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 1,853.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 29,322 shares of the information services provider’s stock after buying an additional 27,821 shares during the period. Connable Office Inc.’s holdings in Alphabet were worth $2,805,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of GOOGL. Louisiana State Employees Retirement System acquired a new position in Alphabet during the 3rd quarter valued at about $55,305,000. Griffin Asset Management Inc. raised its holdings in shares of Alphabet by 1,900.0% in the 3rd quarter. Griffin Asset Management Inc. now owns 52,240 shares of the information services provider’s stock worth $4,997,000 after purchasing an additional 49,628 shares in the last quarter. Farmers Trust Co. raised its holdings in shares of Alphabet by 2.2% in the 2nd quarter. Farmers Trust Co. now owns 5,924 shares of the information services provider’s stock worth $12,910,000 after purchasing an additional 129 shares in the last quarter. Ziegler Capital Management LLC raised its holdings in shares of Alphabet by 62.3% in the 2nd quarter. Ziegler Capital Management LLC now owns 33,282 shares of the information services provider’s stock worth $72,531,000 after purchasing an additional 12,774 shares in the last quarter. Finally, Wilkinson Global Asset Management LLC raised its holdings in shares of Alphabet by 1,900.0% during the third quarter. Wilkinson Global Asset Management LLC now owns 6,460 shares of the information services provider’s stock valued at $618,000 after acquiring an additional 6,137 shares during the period. 34.06% of the stock is owned by institutional investors and hedge funds.

Alphabet Trading Up 5.3 %

Shares of GOOGL stock opened at $98.02 on Friday. The firm has a fifty day moving average of $93.03 and a 200-day moving average of $101.55. 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 52-week low of $83.34 and a 52-week high of $151.55. The stock has a market cap of $1.27 trillion, a price-to-earnings ratio of 19.47, a P/E/G 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 the consensus estimate 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 company posted $1.40 EPS. On average, equities research analysts forecast that Alphabet Inc. will post 4.68 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of a number of recent analyst reports. StockNews.com began coverage on shares of Alphabet in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Susquehanna Bancshares lowered their price objective on shares of Alphabet from $150.00 to $120.00 and set a “positive” rating on the stock in a research report on Wednesday, October 26th. Mizuho decreased their target price on shares of Alphabet from $140.00 to $135.00 and set a “buy” rating for the company in a research report on Wednesday, November 30th. Royal Bank of Canada decreased their target price on shares of Alphabet from $135.00 to $130.00 and set an “outperform” rating for the company in a research report on Wednesday, October 26th. Finally, Rosenblatt Securities decreased their target price 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. Five equities research 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 data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $132.13.

Insiders Place Their Bets

In other Alphabet news, Director Ann Mather sold 280 shares of the stock in a transaction dated Tuesday, October 25th. The shares were sold at an average price of $103.23, for a total transaction of $28,904.40. Following 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 can be accessed through this hyperlink. In other news, Director Ann Mather sold 280 shares of the firm’s stock in a transaction dated Tuesday, October 25th. The shares were sold at an average price of $103.23, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 855 shares of the firm’s stock in a transaction dated Thursday, December 1st. The shares were sold at an average price of $101.13, for a total transaction of $86,466.15. Following the completion of the transaction, the chief accounting officer now directly owns 24,908 shares in the company, valued at approximately $2,518,946.04. 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. Insiders own 11.44% of the company’s stock.

About Alphabet

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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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