Alphabet Inc. (NASDAQ:GOOGL) Shares Purchased by Blue Chip Partners Inc.

Blue Chip Partners Inc. grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 1,925.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 13,284 shares of the information services provider’s stock after purchasing an additional 12,628 shares during the quarter. Blue Chip Partners Inc.’s holdings in Alphabet were worth $1,271,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Louisiana State Employees Retirement System purchased a new stake in Alphabet in the third quarter valued at approximately $55,305,000. Griffin Asset Management Inc. boosted its position in Alphabet by 1,900.0% in the third quarter. Griffin Asset Management Inc. now owns 52,240 shares of the information services provider’s stock valued at $4,997,000 after buying an additional 49,628 shares during the last quarter. Farmers Trust Co. boosted its position in Alphabet by 2.2% in the second quarter. Farmers Trust Co. now owns 5,924 shares of the information services provider’s stock valued at $12,910,000 after buying an additional 129 shares during the last quarter. Ziegler Capital Management LLC boosted its position in Alphabet by 62.3% in the second quarter. Ziegler Capital Management LLC now owns 33,282 shares of the information services provider’s stock valued at $72,531,000 after buying an additional 12,774 shares during the last quarter. Finally, Wilkinson Global Asset Management LLC boosted its position in Alphabet by 1,900.0% in the third quarter. Wilkinson Global Asset Management LLC now owns 6,460 shares of the information services provider’s stock valued at $618,000 after buying an additional 6,137 shares during the last quarter. Institutional investors and hedge funds own 34.06% of the company’s stock.

Alphabet Stock Up 1.8 %

Shares of GOOGL opened at $99.79 on Tuesday. Alphabet Inc. has a 52-week low of $83.34 and a 52-week high of $151.55. The company has a market capitalization of $1.29 trillion, a PE ratio of 19.82, a price-to-earnings-growth ratio of 1.72 and a beta of 1.09. The stock has a fifty day simple moving average of $93.12 and a two-hundred day simple moving average of $101.49. The company has a quick ratio of 2.47, a current ratio of 2.52 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOGLGet Rating) last issued 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 during the quarter, compared to analyst estimates of $58.36 billion. During the same period last year, the business earned $1.40 earnings per share. As a group, equities analysts forecast that Alphabet Inc. will post 4.68 EPS for the current year.

Analysts Set New Price Targets

GOOGL has been the topic of a number of recent research reports. Susquehanna dropped their target price on Alphabet from $150.00 to $120.00 and set a “positive” rating on the stock in a research report on Wednesday, October 26th. Atlantic Securities dropped their target price on Alphabet to $115.00 in a research report on Thursday, October 27th. Morgan Stanley upped their price objective on Alphabet from $120.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 18th. KeyCorp lowered their price objective on Alphabet from $125.00 to $120.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 25th. Finally, Cowen lowered their price objective on Alphabet to $135.00 in a research report on Thursday, October 27th. Five research 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $132.13.

Insiders Place Their Bets

In related news, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of the firm’s stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $38.64, for a total transaction of $4,149,665.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of the firm’s stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $38.64, for a total transaction of $4,149,665.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Prabhakar Raghavan sold 22,203 shares of the firm’s stock in a transaction dated 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 sale, the senior vice president now directly owns 76,579 shares of the company’s stock, valued at $6,872,965.25. The disclosure for this sale can be found here. In the last three months, insiders purchased 661,702 shares of company stock valued at $23,399,217 and sold 190,464 shares valued at $8,535,735. Corporate insiders own 11.44% 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.

Further Reading

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGLGet Rating).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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