Callahan Advisors LLC Grows Position in Alphabet Inc. (NASDAQ:GOOGL)

Callahan Advisors LLC boosted its stake in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 1,943.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,860 shares of the information services provider’s stock after purchasing an additional 16,035 shares during the quarter. Callahan Advisors LLC’s holdings in Alphabet were worth $1,613,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Cardinal Capital Management Inc. purchased a new stake in Alphabet in the second quarter valued at approximately $41,000. Belmont Capital LLC grew its stake in Alphabet by 110.0% during the second quarter. Belmont Capital LLC now owns 21 shares of the information services provider’s stock worth $46,000 after buying an additional 11 shares during the period. Newfound Research LLC grew its stake in Alphabet by 53.8% during the second quarter. Newfound Research LLC now owns 40 shares of the information services provider’s stock worth $87,000 after buying an additional 14 shares during the period. DC Investments Management LLC purchased a new stake in Alphabet during the first quarter worth approximately $114,000. Finally, Bridgefront Capital LLC purchased a new stake in Alphabet during the first quarter worth approximately $225,000. 34.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on GOOGL shares. StockNews.com started coverage on shares of Alphabet in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Citigroup decreased their price objective on shares of Alphabet from $140.00 to $120.00 and set a “buy” rating for the company in a research note on Wednesday, October 26th. New Street Research started coverage on shares of Alphabet in a research note on Wednesday, January 4th. They set a “buy” rating and a $118.00 price objective for the company. Royal Bank of Canada decreased their price objective 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. Finally, Sanford C. Bernstein reduced their target price on shares of Alphabet from $130.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 26th. Five investment analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $132.13.

Alphabet Stock Up 5.3 %

Alphabet stock opened at $98.02 on Monday. The company has a 50-day simple moving average of $93.03 and a 200-day simple moving average of $101.55. The firm has a market capitalization of $1.27 trillion, a P/E ratio of 19.47, a P/E/G ratio of 1.72 and a beta of 1.09. 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.

Alphabet (NASDAQ:GOOGLGet Rating) last released 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). The firm had revenue of $57.27 billion for the quarter, compared to the consensus estimate of $58.36 billion. Alphabet had a return on equity of 26.41% and a net margin of 23.75%. During the same quarter in the prior year, the company posted $1.40 EPS. As a group, equities analysts expect that Alphabet Inc. will post 4.68 earnings per share for the current year.

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 transaction of $77,933.25. Following the completion of the transaction, the chief accounting officer now owns 25,122 shares in the company, valued at $2,289,870.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, 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 transaction, the director now owns 11,200 shares in the company, valued at approximately $1,156,176. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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 completion of the transaction, the chief accounting officer now owns 25,122 shares of the company’s stock, valued at approximately $2,289,870.30. The disclosure for this sale can be found here. Over the last quarter, insiders bought 661,702 shares of company stock worth $23,399,217 and sold 190,744 shares worth $8,564,640. Insiders own 11.44% of the company’s stock.

Alphabet 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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