Van ECK Associates Corp Increases Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Van ECK Associates Corp boosted its stake in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 2,035.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 435,919 shares of the information services provider’s stock after purchasing an additional 415,507 shares during the quarter. Van ECK Associates Corp’s holdings in Alphabet were worth $41,914,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of GOOG. OLD Second National Bank of Aurora lifted its stake in Alphabet by 1,900.0% in the third quarter. OLD Second National Bank of Aurora now owns 260 shares of the information services provider’s stock worth $25,000 after purchasing an additional 247 shares during the last quarter. Carolina Wealth Advisors LLC lifted its stake in Alphabet by 1,900.0% in the third quarter. Carolina Wealth Advisors LLC now owns 300 shares of the information services provider’s stock worth $29,000 after purchasing an additional 285 shares during the last quarter. NewSquare Capital LLC lifted its stake in Alphabet by 1,900.0% in the third quarter. NewSquare Capital LLC now owns 320 shares of the information services provider’s stock worth $31,000 after purchasing an additional 304 shares during the last quarter. Schubert & Co lifted its stake in Alphabet by 1,192.9% in the third quarter. Schubert & Co now owns 362 shares of the information services provider’s stock worth $35,000 after purchasing an additional 334 shares during the last quarter. Finally, Corsicana & Co. lifted its stake in Alphabet by 1,900.0% in the third quarter. Corsicana & Co. now owns 400 shares of the information services provider’s stock worth $38,000 after purchasing an additional 380 shares during the last quarter. Hedge funds and other institutional investors own 28.69% of the company’s stock.

Alphabet Trading Up 5.7 %

NASDAQ GOOG opened at $99.28 on Friday. The company has a market capitalization of $1.28 trillion, a PE ratio of 19.72, a P/E/G ratio of 1.63 and a beta of 1.08. The company has a fifty day moving average of $93.52 and a 200 day moving average of $102.16. Alphabet Inc. has a 1 year low of $83.45 and a 1 year high of $152.10. 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:GOOG – Get Rating) last released its quarterly earnings data 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 firm had revenue of $69.09 billion during the quarter, compared to analysts’ expectations of $70.67 billion. During the same period in the previous year, the firm posted $1.40 EPS. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. Research analysts forecast that Alphabet Inc. will post 4.68 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have issued reports on GOOG shares. Credit Suisse Group set a $128.00 price objective on shares of Alphabet in a research note on Wednesday, October 26th. Piper Sandler reduced their target price on shares of Alphabet from $135.00 to $122.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 26th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Alphabet from $135.00 to $130.00 and set a “buy” rating on the stock in a research report on Friday, October 21st. UBS Group set a $115.00 target price on shares of Alphabet in a research report on Thursday, January 12th. Finally, Oppenheimer reduced their target price on shares of Alphabet from $155.00 to $135.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 26th. One analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $140.56.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 855 shares of the business’s 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 completion of the sale, the chief accounting officer now owns 25,122 shares of the company’s stock, valued at $2,289,870.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Amie Thuener O’toole sold 855 shares of the business’s 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 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Prabhakar Raghavan sold 22,203 shares of the business’s stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the transaction, the senior vice president now owns 76,579 shares in the company, valued at $6,872,965.25. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 1,461,702 shares of company stock valued at $36,999,217 and sold 190,744 shares valued at $8,564,640. Corporate insiders own 12.99% of the company’s stock.

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.