Sendero Wealth Management LLC Buys 79,814 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Sendero Wealth Management LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 2,611.7% during the third quarter, Holdings Channel.com reports. The firm owned 82,870 shares of the information services provider’s stock after buying an additional 79,814 shares during the period. Alphabet accounts for approximately 3.3% of Sendero Wealth Management LLC’s holdings, making the stock its 4th largest position. Sendero Wealth Management LLC’s holdings in Alphabet were worth $7,926,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of GOOGL. Sargent Bickham Lagudis LLC lifted its holdings in Alphabet by 2,031.6% in the third quarter. Sargent Bickham Lagudis LLC now owns 95,964 shares of the information services provider’s stock valued at $9,179,000 after buying an additional 91,462 shares during the period. Allred Capital Management LLC lifted its holdings in Alphabet by 1,840.3% in the third quarter. Allred Capital Management LLC now owns 15,057 shares of the information services provider’s stock valued at $1,440,000 after buying an additional 14,281 shares during the period. Albion Financial Group UT lifted its holdings in Alphabet by 1,928.3% in the third quarter. Albion Financial Group UT now owns 260,920 shares of the information services provider’s stock valued at $24,957,000 after buying an additional 248,056 shares during the period. Eads & Heald Wealth Management lifted its holdings in Alphabet by 1,926.5% in the third quarter. Eads & Heald Wealth Management now owns 16,435 shares of the information services provider’s stock valued at $1,572,000 after buying an additional 15,624 shares during the period. Finally, J Arnold Wealth Management Co lifted its holdings in Alphabet by 27,213.8% in the third quarter. J Arnold Wealth Management Co now owns 7,921 shares of the information services provider’s stock valued at $758,000 after buying an additional 7,892 shares during the period. 34.06% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

NASDAQ GOOGL opened at $98.02 on Monday. The firm has a 50-day moving average of $93.03 and a 200-day moving average of $101.55. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.47 and a current ratio of 2.52. The stock has a market cap of $1.27 trillion, a PE ratio of 19.47, a P/E/G ratio of 1.72 and a beta of 1.09. Alphabet Inc. has a 52-week low of $83.34 and a 52-week high of $151.55.

Alphabet (NASDAQ:GOOGLGet Rating) last posted its earnings results on Tuesday, October 25th. The information services provider reported $1.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $58.36 billion. During the same quarter in the prior year, the business posted $1.40 EPS. On average, sell-side analysts anticipate that Alphabet Inc. will post 4.68 EPS for the current year.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 855 shares of the firm’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 of the company’s stock, valued at $2,289,870.30. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Ann Mather sold 280 shares of the firm’s stock in a transaction dated Tuesday, October 25th. The shares were sold at an average price of $103.23, for a total transaction of $28,904.40. Following the transaction, the director now directly owns 11,200 shares of the company’s stock, valued at $1,156,176. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 855 shares of the firm’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 directly owns 25,122 shares in the company, valued at $2,289,870.30. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 661,702 shares of company stock valued at $23,399,217 and have sold 190,744 shares valued at $8,564,640. 11.44% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GOOGL. New Street Research started coverage on shares of Alphabet in a report on Wednesday, January 4th. They issued a “buy” rating and a $118.00 price objective on the stock. MKM Partners lowered their target price on shares of Alphabet from $140.00 to $134.00 and set a “buy” rating for the company in a research note on Wednesday, October 19th. Atlantic Securities lowered their target price on shares of Alphabet to $115.00 in a research note on Thursday, October 27th. Susquehanna lowered their target price on shares of Alphabet from $150.00 to $120.00 and set a “positive” rating for the company in a research note on Wednesday, October 26th. Finally, KeyCorp lowered their target price on shares of Alphabet from $125.00 to $120.00 and set an “overweight” rating for the company in a research note on Tuesday, October 25th. Five analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $132.13.

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.

See Also

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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