Eads & Heald Wealth Management Boosts Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Eads & Heald Wealth Management boosted its holdings in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 1,926.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 16,435 shares of the information services provider’s stock after acquiring an additional 15,624 shares during the period. Eads & Heald Wealth Management’s holdings in Alphabet were worth $1,572,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. J Arnold Wealth Management Co raised its position in Alphabet by 27,213.8% in the 3rd quarter. J Arnold Wealth Management Co now owns 7,921 shares of the information services provider’s stock worth $758,000 after buying an additional 7,892 shares during the last quarter. Prospera Financial Services Inc raised its position in Alphabet by 1,936.8% in the 3rd quarter. Prospera Financial Services Inc now owns 102,328 shares of the information services provider’s stock worth $9,788,000 after buying an additional 97,304 shares during the last quarter. Keybank National Association OH raised its position in Alphabet by 1,879.7% in the 3rd quarter. Keybank National Association OH now owns 3,472,558 shares of the information services provider’s stock worth $332,150,000 after buying an additional 3,297,148 shares during the last quarter. Chartwell Investment Partners LLC raised its position in Alphabet by 1,721.6% in the 3rd quarter. Chartwell Investment Partners LLC now owns 48,182 shares of the information services provider’s stock worth $4,609,000 after buying an additional 45,537 shares during the last quarter. Finally, Gitterman Wealth Management LLC raised its position in Alphabet by 1,966.7% in the 3rd quarter. Gitterman Wealth Management LLC now owns 11,780 shares of the information services provider’s stock worth $1,129,000 after buying an additional 11,210 shares during the last quarter. Hedge funds and other institutional investors own 34.06% of the company’s stock.

Insider Activity at Alphabet

In related news, SVP Prabhakar Raghavan sold 22,203 shares of the stock in a transaction on 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 sale, the senior vice president now owns 76,579 shares in the company, valued at approximately $6,872,965.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 855 shares of the stock in a transaction on Wednesday, November 2nd. The stock was sold at an average price of $90.85, for a total value of $77,676.75. Following 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 accessible through the SEC website. Also, SVP Prabhakar Raghavan sold 22,203 shares of the stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total value of $1,992,719.25. Following the completion of the sale, the senior vice president now owns 76,579 shares in the company, valued at approximately $6,872,965.25. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 661,702 shares of company stock worth $23,399,217 and have sold 190,744 shares worth $8,564,640. 11.44% of the stock is currently owned by insiders.

Alphabet Stock Up 5.3 %

NASDAQ GOOGL opened at $98.02 on Monday. The stock has a 50 day moving average price of $93.03 and a 200-day moving average price of $101.55. Alphabet Inc. has a one year low of $83.34 and a one year high of $151.55. The company has a market capitalization of $1.27 trillion, a P/E ratio of 19.47, a P/E/G ratio of 1.72 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 (NASDAQ:GOOGLGet Rating) last released its quarterly earnings results on Tuesday, October 25th. The information services provider reported $1.06 earnings per share 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 for the quarter, compared to analysts’ expectations of $58.36 billion. During the same quarter in the previous year, the company posted $1.40 EPS. As a group, equities analysts predict that Alphabet Inc. will post 4.68 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on GOOGL. New Street Research began coverage on shares of Alphabet in a research report on Wednesday, January 4th. They set a “buy” rating and a $118.00 price target for the company. Bank of America reduced their price target on shares of Alphabet from $125.00 to $114.00 and set a “buy” rating for the company in a research report on Tuesday, October 4th. Truist Financial reduced their price target on shares of Alphabet from $136.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday, October 26th. StockNews.com began coverage on shares of Alphabet in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Finally, Sanford C. Bernstein reduced their price target on shares of Alphabet from $130.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, October 26th. Five analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target 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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