Bourgeon Capital Management LLC Purchases 91,358 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Bourgeon Capital Management LLC lifted its position in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1,902.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 96,160 shares of the information services provider’s stock after purchasing an additional 91,358 shares during the quarter. Alphabet comprises about 2.5% of Bourgeon Capital Management LLC’s investment portfolio, making the stock its 15th biggest position. Bourgeon Capital Management LLC’s holdings in Alphabet were worth $9,198,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Spreng Capital Management Inc. lifted its holdings in shares of 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 in the last quarter. Ignite Planners LLC lifted its holdings in shares of 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 in the last quarter. Kaizen Financial Strategies lifted its holdings in shares of 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 in the last quarter. West Family Investments Inc. lifted its holdings in shares of 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 in the last quarter. Finally, Maple Capital Management Inc. lifted its holdings in shares of Alphabet by 2.1% in the first quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock valued at $823,000 after purchasing an additional 6 shares in the last quarter. 34.06% of the stock is owned by institutional investors.

Alphabet Price Performance

GOOGL opened at $97.70 on Wednesday. The company has a fifty day simple moving average of $93.10 and a 200 day simple moving average of $101.38. The firm has a market cap of $1.26 trillion, a price-to-earnings ratio of 19.40, a PEG ratio of 1.72 and a beta of 1.09. Alphabet Inc. has a twelve month low of $83.34 and a twelve month 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:GOOGL – Get 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). Alphabet had a net margin of 23.75% and a return on equity of 26.41%. The company had revenue of $57.27 billion for the quarter, compared to the consensus estimate of $58.36 billion. During the same quarter last year, the company earned $1.40 earnings per share. Equities research analysts expect that Alphabet Inc. will post 4.68 EPS for the current fiscal year.

Insider Buying and Selling at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 22,203 shares of the stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the transaction, the senior vice president now directly owns 76,579 shares in the company, valued at approximately $6,872,965.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Prabhakar Raghavan sold 22,203 shares of the firm’s stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $89.75, for a total value of $1,992,719.25. Following the transaction, the senior vice president now directly owns 76,579 shares in the company, valued at approximately $6,872,965.25. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 855 shares of the firm’s stock in a transaction dated Thursday, December 1st. The stock was sold at an average price of $101.13, for a total transaction of $86,466.15. Following the completion of the transaction, the chief accounting officer now owns 24,908 shares in the company, valued at $2,518,946.04. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 661,702 shares of company stock worth $23,399,217 and have sold 190,464 shares worth $8,535,735. 11.44% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GOOGL. KeyCorp reduced their price target 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. Tigress Financial reduced their price objective on shares of Alphabet from $186.00 to $160.00 and set a “strong-buy” rating on the stock in a research note on Friday, January 6th. JMP Securities reduced their price objective on shares of Alphabet from $145.00 to $132.00 in a research note on Wednesday, November 23rd. Mizuho reduced their price objective on shares of Alphabet from $140.00 to $135.00 and set a “buy” rating on the stock in a research note on Wednesday, November 30th. Finally, Bank of America reduced their price objective on shares of Alphabet from $125.00 to $114.00 and set a “buy” rating on the stock in a research note on Tuesday, October 4th. Five investment analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $132.13.

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.