Alphabet Inc. (NASDAQ:GOOGL) is Riverstone Advisors LLC’s 4th Largest Position

Riverstone Advisors LLC raised its stake in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 1,892.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 131,448 shares of the information services provider’s stock after purchasing an additional 124,852 shares during the quarter. Alphabet comprises about 8.1% of Riverstone Advisors LLC’s investment portfolio, making the stock its 4th biggest position. Riverstone Advisors LLC’s holdings in Alphabet were worth $12,573,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of GOOGL. Spreng Capital Management Inc. increased its stake in Alphabet by 4.0% in the first quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock valued at $364,000 after purchasing an additional 5 shares during the last quarter. Grand Central Investment Group increased its stake in Alphabet by 1.4% in the second quarter. Grand Central Investment Group now owns 362 shares of the information services provider’s stock valued at $789,000 after purchasing an additional 5 shares during the last quarter. Ignite Planners LLC increased its stake in Alphabet by 1.4% in the second quarter. Ignite Planners LLC now owns 351 shares of the information services provider’s stock valued at $834,000 after purchasing an additional 5 shares during the last quarter. Kaizen Financial Strategies increased its stake in Alphabet by 0.7% in the second quarter. Kaizen Financial Strategies now owns 759 shares of the information services provider’s stock valued at $1,654,000 after purchasing an additional 5 shares during the last quarter. Finally, West Family Investments Inc. increased its stake in Alphabet by 0.3% in the first quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock valued at $4,878,000 after purchasing an additional 6 shares during the last quarter. Institutional investors and hedge funds own 34.06% of the company’s stock.

Alphabet Trading Up 1.8 %

Alphabet stock opened at $99.79 on Tuesday. The stock has a market cap of $1.29 trillion, a PE ratio of 19.82, a P/E/G ratio of 1.72 and a beta of 1.09. The stock has a 50-day moving average price of $93.12 and a 200 day moving average price of $101.49. Alphabet Inc. has a 52 week low of $83.34 and a 52 week high of $151.55. The company has a current ratio of 2.52, a quick ratio of 2.47 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOGLGet Rating) last posted its quarterly earnings data on Tuesday, October 25th. The information services provider reported $1.06 EPS for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.19). The company had revenue of $57.27 billion for the quarter, compared to analysts’ expectations 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 business posted $1.40 EPS. Equities research analysts predict that Alphabet Inc. will post 4.68 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several recent analyst reports. The Goldman Sachs Group dropped their price target on shares of Alphabet to $135.00 in a research note on Thursday, October 27th. Mizuho lowered their target price on shares of Alphabet from $140.00 to $135.00 and set a “buy” rating on the stock in a research report on Wednesday, November 30th. KeyCorp lowered their target price on shares of Alphabet from $125.00 to $120.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 25th. Royal Bank of Canada lowered their target price on shares of Alphabet from $135.00 to $130.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 26th. Finally, Susquehanna Bancshares lowered their target price on shares of Alphabet from $150.00 to $120.00 and set a “positive” rating on the stock in a research report on Wednesday, October 26th. Five equities research analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $132.13.

Insider Buying and Selling

In related news, major shareholder 2021 Gp L.L.C. Gv acquired 277,493 shares of the company’s stock in a transaction that occurred on Friday, November 4th. The stock was purchased at an average price of $36.01 per share, for a total transaction of $9,992,522.93. Following the transaction, the insider now owns 870,895 shares in the company, valued at approximately $31,360,928.95. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 855 shares of Alphabet stock in a transaction dated Thursday, December 1st. The stock was sold at an average price of $101.13, for a total value of $86,466.15. Following the completion of the sale, the chief accounting officer now owns 24,908 shares in the company, valued at approximately $2,518,946.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder 2021 Gp L.L.C. Gv purchased 277,493 shares of the stock in a transaction on Friday, November 4th. The stock was acquired at an average price of $36.01 per share, with a total value of $9,992,522.93. Following the acquisition, the insider now directly owns 870,895 shares in the company, valued at $31,360,928.95. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 661,702 shares of company stock worth $23,399,217 and sold 190,464 shares worth $8,535,735. 11.44% of the stock is currently owned by company insiders.

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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