Arnhold LLC Boosts Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Arnhold LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 1,932.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 269,930 shares of the information services provider’s stock after purchasing an additional 256,648 shares during the period. Alphabet makes up 3.5% of Arnhold LLC’s holdings, making the stock its 4th largest holding. Arnhold LLC’s holdings in Alphabet were worth $25,819,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of GOOGL. Sumitomo Mitsui Trust Holdings Inc. grew 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 acquiring an additional 17,019,726 shares in the last quarter. Fiera Capital Corp grew 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 acquiring an additional 16,989,271 shares in the last quarter. Nordea Investment Management AB grew 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 acquiring an additional 15,633,495 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Alphabet by 1,821.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 9,352,658 shares of the information services provider’s stock valued at $894,580,000 after acquiring an additional 8,865,958 shares in the last quarter. Finally, Raymond James & Associates grew its stake in 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 in the last quarter. Hedge funds and other institutional investors own 34.06% of the company’s stock.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 855 shares of the company’s stock in a transaction dated Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total value of $77,933.25. Following the sale, the chief accounting officer now directly owns 25,122 shares of the company’s stock, valued at approximately $2,289,870.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv bought 800,000 shares of Alphabet stock in a transaction dated Monday, October 24th. The shares were purchased at an average cost of $17.00 per share, with a total value of $13,600,000.00. Following the transaction, the insider now directly owns 11,522,248 shares of the company’s stock, valued at $195,878,216. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 855 shares of the stock in a transaction dated Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total transaction of $77,933.25. Following the sale, the chief accounting officer now directly owns 25,122 shares in the company, valued at $2,289,870.30. The disclosure for this sale can be found here. In the last three months, insiders have acquired 1,461,702 shares of company stock valued at $36,999,217 and have sold 190,744 shares valued at $8,564,640. Insiders own 11.44% of the company’s stock.

Analysts Set New Price Targets

GOOGL has been the subject of several recent analyst reports. MKM Partners reduced their price objective on shares of Alphabet from $140.00 to $134.00 and set a “buy” rating for the company in a research note on Wednesday, October 19th. The Goldman Sachs Group cut their price target on shares of Alphabet to $135.00 in a research note on Thursday, October 27th. Robert W. Baird cut their price target on shares of Alphabet to $120.00 in a research note on Thursday, October 27th. New Street Research initiated coverage on shares of Alphabet in a research note on Wednesday, January 4th. They issued a “buy” rating and a $118.00 price target for the company. Finally, Royal Bank of Canada cut their price target on shares of Alphabet from $135.00 to $130.00 and set an “outperform” rating for the company in a research note on Wednesday, October 26th. Five investment 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 stock. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $132.13.

Alphabet Stock Up 5.3 %

Shares of NASDAQ GOOGL opened at $98.02 on Friday. The company has a current ratio of 2.52, a quick ratio of 2.47 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a 12 month low of $83.34 and a 12 month high of $151.55. The firm 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. The firm has a fifty day simple moving average of $93.03 and a two-hundred day simple moving average of $101.55.

Alphabet (NASDAQ:GOOGLGet Rating) last released 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). The business had revenue of $57.27 billion during the quarter, compared to analysts’ expectations of $58.36 billion. Alphabet had a return on equity of 26.41% and a net margin of 23.75%. During the same period in the prior year, the company earned $1.40 earnings per share. Equities analysts expect that Alphabet Inc. will post 4.68 earnings per share for the current year.

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.

See Also

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGLGet Rating).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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