Alphabet Inc. (NASDAQ:GOOGL) Position Lifted by Comerica Bank

Comerica Bank increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 1,901.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 923,385 shares of the information services provider’s stock after purchasing an additional 877,243 shares during the quarter. Alphabet makes up 0.8% of Comerica Bank’s holdings, making the stock its 10th largest position. Comerica Bank’s holdings in Alphabet were worth $94,666,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Better Money Decisions LLC boosted its stake in Alphabet by 1,999.3% in the third quarter. Better Money Decisions LLC now owns 2,960 shares of the information services provider’s stock valued at $283,000 after acquiring an additional 2,819 shares in the last quarter. Freedom Day Solutions LLC lifted its holdings in shares of Alphabet by 1,828.4% during the 3rd quarter. Freedom Day Solutions LLC now owns 21,058 shares of the information services provider’s stock valued at $2,014,000 after purchasing an additional 19,966 shares during the last quarter. Lattice Capital Management LLC boosted its position in shares of Alphabet by 1,900.0% in the 3rd quarter. Lattice Capital Management LLC now owns 32,000 shares of the information services provider’s stock worth $3,061,000 after purchasing an additional 30,400 shares in the last quarter. Asio Capital LLC grew its stake in Alphabet by 1,870.4% during the 3rd quarter. Asio Capital LLC now owns 2,660 shares of the information services provider’s stock worth $254,000 after buying an additional 2,525 shares during the last quarter. Finally, Riverview Trust Co increased its position in Alphabet by 1,818.3% during the 3rd quarter. Riverview Trust Co now owns 10,378 shares of the information services provider’s stock valued at $993,000 after buying an additional 9,837 shares in the last quarter. Institutional investors own 34.06% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on GOOGL. Royal Bank of Canada lowered their price target on Alphabet from $135.00 to $130.00 and set an “outperform” rating for the company in a report on Wednesday, October 26th. Susquehanna dropped 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. MKM Partners decreased their price target on shares of Alphabet from $140.00 to $134.00 and set a “buy” rating for the company in a report on Wednesday, October 19th. KeyCorp dropped their price objective on shares of Alphabet from $125.00 to $120.00 and set an “overweight” rating on the stock in a report on Tuesday, October 25th. Finally, Sanford C. Bernstein reduced their target price on Alphabet from $130.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday, October 26th. Five investment 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.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $132.13.

Alphabet Price Performance

Shares of Alphabet stock opened at $97.70 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.52 and a quick ratio of 2.47. The business has a 50 day simple moving average of $93.10 and a two-hundred day simple moving average of $101.38. The stock has a market capitalization of $1.26 trillion, a P/E ratio of 19.40, a PEG ratio of 1.72 and a beta of 1.09. Alphabet Inc. has a 12 month low of $83.34 and a 12 month high of $151.55.

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 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 firm had revenue of $57.27 billion during the quarter, compared to analyst estimates of $58.36 billion. During the same period in the prior year, the company posted $1.40 earnings per share. As a group, analysts predict that Alphabet Inc. will post 4.68 EPS for the current fiscal year.

Insider Activity at Alphabet

In other Alphabet news, Director Ann Mather sold 360 shares of the firm’s stock in a transaction that occurred on Friday, November 25th. The shares were sold at an average price of $98.48, for a total value of $35,452.80. Following the transaction, the director now directly owns 11,300 shares of the company’s stock, valued at approximately $1,112,824. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, Director Ann Mather sold 360 shares of the company’s stock in a transaction on Friday, November 25th. The stock was sold at an average price of $98.48, for a total value of $35,452.80. Following the completion of the sale, the director now directly owns 11,300 shares in the company, valued at approximately $1,112,824. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of Alphabet stock in a transaction on Monday, October 31st. The stock was sold at an average price of $38.64, for a total value of $4,149,665.52. The disclosure for this sale can be found here. In the last quarter, insiders acquired 661,702 shares of company stock valued at $23,399,217 and sold 190,464 shares valued at $8,535,735. 11.44% of the stock is owned by corporate insiders.

About Alphabet

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Alphabet, Inc is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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