Beach Investment Counsel Inc. PA Acquires 48,751 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Beach Investment Counsel Inc. PA lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 1,623.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 51,754 shares of the information services provider’s stock after buying an additional 48,751 shares during the quarter. Beach Investment Counsel Inc. PA’s holdings in Alphabet were worth $4,950,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. IAG Wealth Partners LLC lifted its position in shares of Alphabet by 3,275.0% in the 3rd quarter. IAG Wealth Partners LLC now owns 270 shares of the information services provider’s stock worth $26,000 after purchasing an additional 262 shares during the period. Artemis Wealth Advisors LLC boosted its holdings in shares of Alphabet by 1,900.0% in the third quarter. Artemis Wealth Advisors LLC now owns 280 shares of the information services provider’s stock worth $27,000 after buying an additional 266 shares during the last quarter. Horizons Wealth Management purchased a new position in Alphabet during the second quarter valued at approximately $33,000. Schubert & Co lifted its holdings in shares of Alphabet by 1,200.0% in the third quarter. Schubert & Co now owns 364 shares of the information services provider’s stock worth $35,000 after buying an additional 336 shares in the last quarter. Finally, Carolina Wealth Advisors LLC lifted its holdings in shares of Alphabet by 1,900.0% in the third quarter. Carolina Wealth Advisors LLC now owns 400 shares of the information services provider’s stock worth $38,000 after buying an additional 380 shares in the last quarter. Hedge funds and other institutional investors own 34.06% of the company’s stock.

Insider Buying and Selling

In other Alphabet news, Director Ann Mather sold 280 shares of the company’s stock in a transaction dated 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 directly owns 11,200 shares in the company, valued at $1,156,176. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Amie Thuener O’toole sold 855 shares of the stock in a transaction dated Wednesday, November 2nd. The stock was sold at an average price of $90.85, for a total value of $77,676.75. Following the completion of the sale, the chief accounting officer now owns 24,694 shares in the company, valued at $2,243,449.90. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 value of $28,904.40. Following the completion of the sale, 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. Over the last ninety days, 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 company insiders.

Alphabet Stock Up 5.3 %

Shares of NASDAQ:GOOGL opened at $98.02 on Friday. The company has a quick ratio of 2.47, a current ratio of 2.52 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a 52-week low of $83.34 and a 52-week high of $151.55. The stock’s fifty day simple moving average is $93.03 and its 200-day simple moving average is $101.55. The company has a market capitalization of $1.27 trillion, a P/E ratio of 19.47, a P/E/G 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 (EPS) for the quarter, missing the consensus estimate 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 analysts’ expectations of $58.36 billion. During the same quarter in the prior year, the company earned $1.40 earnings per share. As a group, equities research 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 analyst reports. Sanford C. Bernstein lowered their target price on shares of Alphabet from $130.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday, October 26th. StockNews.com assumed coverage on shares of Alphabet in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Susquehanna cut their price objective on shares of Alphabet from $150.00 to $120.00 and set a “positive” rating on the stock in a report on Wednesday, October 26th. Royal Bank of Canada cut their price target on shares of Alphabet from $135.00 to $130.00 and set an “outperform” rating on the stock in a report on Wednesday, October 26th. Finally, Needham & Company LLC dropped their price objective on shares of Alphabet from $160.00 to $115.00 and set a “buy” rating on the stock in a research note on Thursday, December 22nd. 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 company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $132.13.

Alphabet Company 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.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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