Allspring Global Investments Holdings LLC Buys 8,865,958 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Allspring Global Investments Holdings LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 1,821.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,352,658 shares of the information services provider’s stock after purchasing an additional 8,865,958 shares during the period. Alphabet accounts for 1.6% of Allspring Global Investments Holdings LLC’s portfolio, making the stock its 4th biggest position. Allspring Global Investments Holdings LLC’s holdings in Alphabet were worth $894,580,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Louisiana State Employees Retirement System bought a new position in shares of Alphabet during the 3rd quarter valued at about $55,305,000. Griffin Asset Management Inc. lifted its position in shares of Alphabet by 1,900.0% in the third 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. lifted its position in shares of Alphabet by 2.2% in the second 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 lifted its position in shares of Alphabet by 62.3% in the second 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 lifted its position in shares of Alphabet by 1,900.0% in the third quarter. Wilkinson Global Asset Management LLC now owns 6,460 shares of the information services provider’s stock worth $618,000 after purchasing an additional 6,137 shares in the last quarter. Institutional investors own 34.06% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of Alphabet stock in a transaction on Monday, October 31st. The stock was sold at an average price of $38.64, for a total transaction of $4,149,665.52. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Alphabet news, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of the business’s stock in a transaction on Monday, October 31st. The stock was sold at an average price of $38.64, for a total value of $4,149,665.52. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ann Mather sold 280 shares of the business’s stock in a transaction on Tuesday, October 25th. The shares were sold at an average price of $103.23, for a total value of $28,904.40. Following the completion of the sale, the director now owns 11,200 shares in the company, valued at $1,156,176. The disclosure for this sale can be found here. Over 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 currently owned by corporate insiders.

Alphabet Trading Up 5.3 %

Shares of Alphabet stock opened at $98.02 on Friday. 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 50 day moving average price of $93.03 and a two-hundred day moving average price of $101.55. The stock has a market capitalization 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 posted its 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). Alphabet had a net margin of 23.75% and a return on equity of 26.41%. 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 prior year, the business earned $1.40 EPS. As a group, equities analysts anticipate that Alphabet Inc. will post 4.68 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on GOOGL shares. StockNews.com started coverage on Alphabet in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Cowen lowered their price target on Alphabet to $135.00 in a report on Thursday, October 27th. KeyCorp lowered their price target on Alphabet from $125.00 to $120.00 and set an “overweight” rating on the stock in a report on Tuesday, October 25th. Morgan Stanley raised their price objective on shares of Alphabet from $120.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, 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 note on Wednesday, October 26th. Five analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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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