PRW Wealth Management LLC Purchases 3,984 Shares of Alphabet Inc. (NASDAQ:GOOGL)

PRW Wealth Management LLC boosted its position in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 2,032.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,180 shares of the information services provider’s stock after acquiring an additional 3,984 shares during the period. PRW Wealth Management LLC’s holdings in Alphabet were worth $401,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Louisiana State Employees Retirement System bought a new stake in shares of Alphabet during the 3rd quarter valued at about $55,305,000. Griffin Asset Management Inc. boosted its stake in shares of Alphabet by 1,900.0% during the 3rd quarter. Griffin Asset Management Inc. now owns 52,240 shares of the information services provider’s stock valued at $4,997,000 after purchasing an additional 49,628 shares in the last quarter. Farmers Trust Co. boosted its stake in shares of Alphabet by 2.2% during the 2nd quarter. Farmers Trust Co. now owns 5,924 shares of the information services provider’s stock valued at $12,910,000 after purchasing an additional 129 shares in the last quarter. Ziegler Capital Management LLC lifted its position in Alphabet by 62.3% during the 2nd quarter. Ziegler Capital Management LLC now owns 33,282 shares of the information services provider’s stock valued at $72,531,000 after acquiring an additional 12,774 shares during the period. Finally, Wilkinson Global Asset Management LLC lifted its position in Alphabet by 1,900.0% during the 3rd 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. Institutional investors own 34.06% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 855 shares of the company’s stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total value of $77,933.25. Following the completion of the transaction, the chief accounting officer now directly owns 25,122 shares in the company, valued at $2,289,870.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 855 shares of the company’s stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total value of $77,933.25. Following the completion of the transaction, the chief accounting officer now directly owns 25,122 shares in the company, valued at $2,289,870.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv bought 800,000 shares of the stock in a transaction dated Monday, October 24th. The stock was 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 of the company’s stock, valued at approximately $195,878,216. The disclosure for this purchase can be found here. Over the last three months, insiders bought 1,461,702 shares of company stock worth $36,999,217 and sold 190,744 shares worth $8,564,640. Company insiders own 11.44% of the company’s stock.

Alphabet Stock Performance

GOOGL opened at $98.02 on Friday. The firm has a market cap of $1.27 trillion, a P/E ratio of 19.47, a PEG ratio of 1.62 and a beta of 1.09. Alphabet Inc. has a 1-year low of $83.34 and a 1-year high of $151.55. The company has a 50 day simple moving average of $93.03 and a two-hundred day simple moving average of $101.55. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.52 and a quick ratio of 2.47.

Alphabet (NASDAQ:GOOGLGet Rating) last posted its quarterly earnings results 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). The firm had revenue of $57.27 billion during the quarter, compared to the consensus estimate of $58.36 billion. Alphabet had a return on equity of 26.41% and a net margin of 23.75%. During the same quarter in the previous year, the company earned $1.40 earnings per share. Equities analysts forecast that Alphabet Inc. will post 4.68 earnings per share for the current fiscal year.

Analyst Ratings Changes

GOOGL has been the subject of a number of recent research reports. Susquehanna lowered 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. Needham & Company LLC lowered their price target on shares of Alphabet from $160.00 to $115.00 and set a “buy” rating for the company in a research report on Thursday, December 22nd. Susquehanna Bancshares lowered 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. Cowen lowered their price target on shares of Alphabet to $135.00 in a research report on Thursday, October 27th. Finally, Citigroup decreased their target price on shares of Alphabet from $140.00 to $120.00 and set a “buy” rating for the company in a 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $132.13.

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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