BlackDiamond Wealth Management Inc. Acquires 223 Shares of Alphabet Inc. (NASDAQ:GOOGL)

BlackDiamond Wealth Management Inc. boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 3.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 6,450 shares of the information services provider’s stock after buying an additional 223 shares during the quarter. Alphabet accounts for approximately 0.8% of BlackDiamond Wealth Management Inc.’s portfolio, making the stock its 26th biggest holding. BlackDiamond Wealth Management Inc.’s holdings in Alphabet were worth $674,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in GOOGL. Sumitomo Mitsui Trust Holdings Inc. grew its position 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 buying an additional 17,019,726 shares during the period. Fiera Capital Corp boosted its position in shares of Alphabet by 1,957.3% in the second quarter. Fiera Capital Corp now owns 17,857,280 shares of the information services provider’s stock worth $1,945,783,000 after purchasing an additional 16,989,271 shares during the period. Nordea Investment Management AB boosted its position in shares of Alphabet by 1,830.2% in the third quarter. Nordea Investment Management AB now owns 16,487,668 shares of the information services provider’s stock worth $1,605,074,000 after purchasing an additional 15,633,495 shares during the period. Raymond James & Associates boosted its position in shares of Alphabet by 1,927.0% in the third quarter. Raymond James & Associates now owns 8,284,714 shares of the information services provider’s stock worth $792,433,000 after purchasing an additional 7,875,993 shares during the period. Finally, Mackenzie Financial Corp boosted its position in shares of Alphabet by 1,876.5% in the third quarter. Mackenzie Financial Corp now owns 7,170,066 shares of the information services provider’s stock worth $685,817,000 after purchasing an additional 6,807,300 shares during the period. 34.06% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv bought 800,000 shares of the company’s stock in a transaction on Monday, October 24th. The shares were bought at an average cost of $17.00 per share, for a total transaction of $13,600,000.00. Following the acquisition, the insider now directly owns 11,522,248 shares in the company, valued at $195,878,216. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction, the director now directly owns 11,200 shares in the company, valued at approximately $1,156,176. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv purchased 800,000 shares of the stock in a transaction dated Monday, October 24th. The stock was purchased at an average price of $17.00 per share, for a total transaction of $13,600,000.00. Following the completion of the acquisition, the insider now directly 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. 11.44% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on GOOGL. MKM Partners dropped their price target on shares of Alphabet from $140.00 to $134.00 and set a “buy” rating for the company in a research report on Wednesday, October 19th. Truist Financial dropped their price target on shares of Alphabet from $136.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday, October 26th. Susquehanna Bancshares dropped 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. Credit Suisse Group dropped their target price on shares of Alphabet from $134.00 to $128.00 and set an “outperform” rating for the company in a research report on Wednesday, October 26th. Finally, Tigress Financial dropped 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 report on Friday, January 6th. Five equities research 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 company’s stock. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $132.13.

Alphabet Trading Up 5.3 %

NASDAQ GOOGL opened at $98.02 on Friday. The company’s 50-day moving average price is $93.03 and its 200-day moving average price is $101.55. 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 stock has a market cap of $1.27 trillion, a PE ratio of 19.47, a PEG ratio of 1.62 and a beta of 1.09. Alphabet Inc. has a 12 month low of $83.34 and a 12 month high of $151.55.

Alphabet (NASDAQ:GOOGLGet Rating) last posted its quarterly earnings results on Tuesday, October 25th. The information services provider reported $1.06 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 company had revenue of $57.27 billion during the quarter, compared to the consensus estimate of $58.36 billion. During the same quarter in the previous year, the company posted $1.40 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 4.68 earnings per share for the current year.

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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