Asset Dedication LLC Buys 22,285 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Asset Dedication LLC raised its stake in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 1,903.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,456 shares of the information services provider’s stock after purchasing an additional 22,285 shares during the period. Asset Dedication LLC’s holdings in Alphabet were worth $2,270,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Bornite Capital Management LP acquired a new position in shares of Alphabet during the first quarter valued at about $16,688,000. Markel Corp grew its holdings in shares of Alphabet by 17.0% during the first quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock valued at $43,110,000 after buying an additional 2,250 shares during the last quarter. United Bank grew its holdings in shares of Alphabet by 5.9% during the first quarter. United Bank now owns 2,033 shares of the information services provider’s stock valued at $5,654,000 after buying an additional 113 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Alphabet by 23.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock valued at $900,929,000 after buying an additional 61,427 shares during the last quarter. Finally, Dakota Wealth Management grew its holdings in shares of Alphabet by 20.4% during the first quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock valued at $25,806,000 after buying an additional 1,570 shares during the last quarter. 34.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of analyst reports. New Street Research initiated coverage on shares of Alphabet in a report on Wednesday, January 4th. They set a “buy” rating and a $118.00 price objective for the company. Tigress Financial cut their price target on shares of Alphabet from $186.00 to $160.00 and set a “strong-buy” rating on the stock in a report on Friday, January 6th. Morgan Stanley boosted their price target on shares of Alphabet from $120.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, January 18th. Wells Fargo & Company cut their price target on shares of Alphabet from $160.00 to $145.00 and set an “overweight” rating on the stock in a report on Wednesday, October 26th. Finally, Sanford C. Bernstein cut their price target on shares of Alphabet from $130.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, October 26th. Five analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $132.13.

Alphabet Price Performance

GOOGL stock opened at $99.79 on Tuesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.52 and a quick ratio of 2.47. Alphabet Inc. has a one year low of $83.34 and a one year high of $151.55. 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 firm has a 50 day simple moving average of $93.12 and a two-hundred day simple moving average of $101.49.

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 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 analysts’ expectations of $58.36 billion. During the same period in the prior year, the firm earned $1.40 EPS. On average, analysts predict that Alphabet Inc. will post 4.68 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 855 shares of the company’s stock in a transaction on Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total value of $77,933.25. Following the completion of the sale, the chief accounting officer now owns 25,122 shares of the company’s stock, valued at approximately $2,289,870.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Amie Thuener O’toole sold 855 shares of the company’s stock in a transaction on Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total value of $77,933.25. Following the completion of the sale, the chief accounting officer now owns 25,122 shares of the company’s stock, valued at approximately $2,289,870.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ann Mather sold 360 shares of the company’s stock in a transaction on Friday, November 25th. The shares were sold at an average price of $98.48, for a total transaction of $35,452.80. Following the completion of the sale, the director now directly owns 11,300 shares of the company’s stock, valued at approximately $1,112,824. The disclosure for this sale can be found here. In the last quarter, 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.

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.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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