Cranbrook Wealth Management LLC Grows Position in Alphabet Inc. (NASDAQ:GOOGL)

Cranbrook Wealth Management LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 1,899.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 2,439 shares of the information services provider’s stock after acquiring an additional 2,317 shares during the quarter. Cranbrook Wealth Management LLC’s holdings in Alphabet were worth $233,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Artemis Wealth Advisors LLC grew its holdings in Alphabet by 1,900.0% in the third quarter. Artemis Wealth Advisors LLC now owns 280 shares of the information services provider’s stock valued at $27,000 after purchasing an additional 266 shares during the last quarter. Horizons Wealth Management acquired a new stake in Alphabet in the second quarter valued at $33,000. Schubert & Co grew its holdings in Alphabet by 1,200.0% in the third quarter. Schubert & Co now owns 364 shares of the information services provider’s stock valued at $35,000 after purchasing an additional 336 shares during the last quarter. Carolina Wealth Advisors LLC grew its holdings in Alphabet by 1,900.0% in the third quarter. Carolina Wealth Advisors LLC now owns 400 shares of the information services provider’s stock valued at $38,000 after purchasing an additional 380 shares during the last quarter. Finally, Cardinal Capital Management Inc. acquired a new stake in Alphabet in the second quarter valued at $41,000. Hedge funds and other institutional investors own 34.06% of the company’s stock.

Analysts Set New Price Targets

GOOGL has been the topic of several research reports. Truist Financial lowered their target price on Alphabet from $136.00 to $130.00 and set a “buy” rating on the stock in a report on Wednesday, October 26th. Morgan Stanley increased their price objective on Alphabet from $120.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday. StockNews.com assumed coverage on Alphabet in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Mizuho decreased their price objective on Alphabet from $140.00 to $135.00 and set a “buy” rating on the stock in a research note on Wednesday, November 30th. Finally, Credit Suisse Group decreased their price objective on Alphabet from $134.00 to $128.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 26th. Five 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.13.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $98.02 on Friday. Alphabet Inc. has a fifty-two week low of $83.34 and a fifty-two week high of $151.55. The business has a 50 day moving average price of $93.03 and a two-hundred day moving average price of $101.55. The company has a quick ratio of 2.47, a current ratio of 2.52 and a debt-to-equity ratio of 0.06. The firm has a market cap of $1.27 trillion, a PE ratio of 19.47, a price-to-earnings-growth ratio of 1.62 and a beta of 1.09.

Alphabet (NASDAQ:GOOGLGet Rating) last issued its quarterly earnings data on Tuesday, October 25th. The information services provider reported $1.06 earnings per share 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 analyst estimates of $58.36 billion. During the same quarter last year, the business earned $1.40 EPS. Sell-side analysts expect that Alphabet Inc. will post 4.68 earnings per share for the current fiscal year.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Ann Mather sold 280 shares of the firm’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 completion of the sale, the director now owns 11,200 shares in the company, valued at approximately $1,156,176. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, SVP Prabhakar Raghavan sold 22,203 shares of Alphabet stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total value of $1,992,719.25. Following the completion of the transaction, 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 legal filing with the SEC, which is available through this hyperlink. Also, Director Ann Mather sold 280 shares of Alphabet stock in a transaction that occurred on Tuesday, October 25th. The stock was 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 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. 11.44% of the stock is owned by insiders.

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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