Alphabet Inc. (NASDAQ:GOOGL) Shares Acquired by Cornerstone Advisory LLC

Cornerstone Advisory LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1,906.7% in the 3rd quarter, Holdings Channel reports. The firm owned 100,979 shares of the information services provider’s stock after buying an additional 95,947 shares during the period. Alphabet makes up approximately 2.2% of Cornerstone Advisory LLC’s portfolio, making the stock its 10th largest holding. Cornerstone Advisory LLC’s holdings in Alphabet were worth $9,659,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Alphabet by 1.4% during the first quarter. Vanguard Group Inc. now owns 23,304,411 shares of the information services provider’s stock valued at $64,817,723,000 after purchasing an additional 331,945 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in 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 during the last quarter. Fiera Capital Corp lifted its stake in 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 during the last quarter. Nordea Investment Management AB lifted its stake in 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 during the last quarter. Finally, Raymond James & Associates raised its holdings 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 acquiring an additional 7,875,993 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. 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. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.47 and a current ratio of 2.52. The firm has a fifty day moving average of $93.03 and a 200-day moving average of $101.55.

Alphabet (NASDAQ:GOOGL – Get Rating) last announced 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 during the quarter, compared to analyst estimates of $58.36 billion. During the same quarter in the prior 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.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on GOOGL shares. Atlantic Securities cut their price target on shares of Alphabet to $115.00 in a report on Thursday, October 27th. The Goldman Sachs Group cut their price target on shares of Alphabet to $135.00 in a report on Thursday, October 27th. Evercore ISI dropped their price objective on shares of Alphabet from $130.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 21st. Cowen dropped their price objective on shares of Alphabet to $135.00 in a research note on Thursday, October 27th. Finally, Wells Fargo & Company dropped their price objective on shares of Alphabet from $160.00 to $145.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 26th. 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 company’s stock. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $132.13.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 855 shares of the stock in a transaction dated Wednesday, November 2nd. The shares were sold at an average price of $90.85, for a total transaction of $77,676.75. Following the completion of the sale, the chief accounting officer now owns 24,694 shares in the company, valued at approximately $2,243,449.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Prabhakar Raghavan sold 22,203 shares of the stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the completion of the sale, the senior vice president now owns 76,579 shares in the company, valued at approximately $6,872,965.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 855 shares of the stock in a transaction dated Wednesday, November 2nd. The stock was sold at an average price of $90.85, for a total transaction of $77,676.75. Following the sale, the chief accounting officer now owns 24,694 shares of the company’s stock, valued at approximately $2,243,449.90. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 1,461,702 shares of company stock worth $36,999,217 and sold 190,744 shares worth $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.