Grace & White Inc. NY Increases Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Grace & White Inc. NY lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 2.5% during the 3rd quarter, Holdings Channel.com reports. The fund owned 10,450 shares of the information services provider’s stock after buying an additional 250 shares during the period. Grace & White Inc. NY’s holdings in Alphabet were worth $1,000,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Cardinal Capital Management Inc. purchased a new stake in Alphabet in the 2nd quarter valued at approximately $41,000. Belmont Capital LLC lifted its stake in Alphabet by 110.0% in the 2nd quarter. Belmont Capital LLC now owns 21 shares of the information services provider’s stock valued at $46,000 after buying an additional 11 shares in the last quarter. Newfound Research LLC raised its holdings in Alphabet by 53.8% in the 2nd quarter. Newfound Research LLC now owns 40 shares of the information services provider’s stock valued at $87,000 after acquiring an additional 14 shares during the last quarter. DC Investments Management LLC acquired a new position in Alphabet in the 1st quarter valued at $114,000. Finally, Bridgefront Capital LLC acquired a new position in Alphabet in the 1st quarter valued at $225,000. Hedge funds and other institutional investors own 34.06% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv bought 800,000 shares of the business’s stock in a transaction on Monday, October 24th. The shares were purchased at an average price of $17.00 per share, with a total value of $13,600,000.00. Following the completion of the acquisition, the insider now directly owns 11,522,248 shares of the company’s stock, valued at approximately $195,878,216. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 855 shares of the firm’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 sale, the chief accounting officer now owns 25,122 shares in the company, valued at $2,289,870.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv purchased 800,000 shares of the company’s stock in a transaction on Monday, October 24th. The stock was purchased at an average price of $17.00 per share, for a total transaction of $13,600,000.00. Following the purchase, 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 quarter, 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. 11.44% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

GOOGL has been the subject of several analyst reports. Sanford C. Bernstein cut their price target on Alphabet from $130.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, October 26th. Needham & Company LLC cut their price target on Alphabet from $160.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, December 22nd. Citigroup cut their price target on Alphabet from $140.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, October 26th. Susquehanna dropped their price objective on Alphabet from $150.00 to $120.00 and set a “positive” rating for the company in a report on Wednesday, October 26th. Finally, Evercore ISI dropped their price objective on Alphabet from $130.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, December 21st. Five analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.13.

Alphabet Stock Performance

Shares of GOOGL 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 one year low of $83.34 and a one year high of $151.55. The company’s 50-day simple moving average is $93.03 and its 200-day simple moving average is $101.55. The stock has a market capitalization of $1.27 trillion, a price-to-earnings ratio of 19.47, a PEG ratio of 1.62 and a beta of 1.09.

Alphabet (NASDAQ:GOOGLGet Rating) last issued its quarterly earnings results on Tuesday, October 25th. The information services provider reported $1.06 EPS for the quarter, missing the consensus estimate of $1.25 by ($0.19). Alphabet had a return on equity of 26.41% and a net margin of 23.75%. The company had revenue of $57.27 billion for the quarter, compared to the consensus estimate of $58.36 billion. During the same period in the previous year, the business posted $1.40 EPS. Equities analysts anticipate that Alphabet Inc. will post 4.68 earnings per share for the current fiscal year.

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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