Alphabet Inc. (NASDAQ:GOOGL) Shares Bought by Cary Street Partners Investment Advisory LLC

Cary Street Partners Investment Advisory LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 2,051.0% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 128,972 shares of the information services provider’s stock after purchasing an additional 122,976 shares during the period. Alphabet makes up approximately 1.0% of Cary Street Partners Investment Advisory LLC’s portfolio, making the stock its 23rd biggest holding. Cary Street Partners Investment Advisory LLC’s holdings in Alphabet were worth $12,336,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA increased its position in shares of Alphabet by 1,955.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 61,134,061 shares of the information services provider’s stock valued at $5,847,474,000 after buying an additional 58,159,150 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of Alphabet by 1,928.6% in the third quarter. Fisher Asset Management LLC now owns 42,474,883 shares of the information services provider’s stock valued at $4,062,723,000 after buying an additional 40,381,114 shares in the last quarter. Nuveen Asset Management LLC increased its position in shares of Alphabet by 1,731.5% in the third quarter. Nuveen Asset Management LLC now owns 33,615,585 shares of the information services provider’s stock valued at $3,215,331,000 after buying an additional 31,780,148 shares in the last quarter. Jennison Associates LLC increased its position in shares of Alphabet by 1,690.3% in the third quarter. Jennison Associates LLC now owns 26,231,920 shares of the information services provider’s stock valued at $2,509,083,000 after buying an additional 24,766,730 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Alphabet by 1.4% in the first quarter. Vanguard Group Inc. now owns 23,304,411 shares of the information services provider’s stock valued at $64,817,723,000 after buying an additional 331,945 shares in the last quarter. 34.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 22,203 shares of the company’s stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the sale, the senior vice president now owns 76,579 shares in the company, valued at approximately $6,872,965.25. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CAO Amie Thuener O’toole sold 855 shares of the stock in a transaction dated Wednesday, January 4th. The stock was sold at an average price of $91.15, for a total value of $77,933.25. Following the transaction, the chief accounting officer now owns 25,122 shares in the company, valued at approximately $2,289,870.30. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Prabhakar Raghavan sold 22,203 shares of the 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 completion of the transaction, the senior vice president now owns 76,579 shares in the company, valued at approximately $6,872,965.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,745 shares of company stock worth $3,424,078. 11.44% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GOOGL. Needham & Company LLC restated a “buy” rating and issued a $115.00 price objective on shares of Alphabet in a research report on Wednesday, March 8th. Roth Capital reiterated a “buy” rating on shares of Alphabet in a research report on Friday, February 3rd. Wells Fargo & Company boosted their price target on Alphabet from $145.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, February 3rd. Tigress Financial dropped their price target on Alphabet from $186.00 to $160.00 and set a “strong-buy” rating for the company in a research report on Friday, January 6th. Finally, Credit Suisse Group dropped their price target on Alphabet from $145.00 to $136.00 and set an “outperform” rating for the company in a research report on Friday, February 3rd. Five investment analysts have rated the stock with a hold rating, thirty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $132.32.

Alphabet Price Performance

GOOGL stock opened at $91.11 on Tuesday. The company has a current ratio of 2.38, a quick ratio of 2.34 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $1.17 trillion, a PE ratio of 20.02, a P/E/G ratio of 1.25 and a beta of 1.09. Alphabet Inc. has a 12-month low of $83.34 and a 12-month high of $143.79. The business’s fifty day moving average price is $94.25 and its 200 day moving average price is $96.41.

Alphabet (NASDAQ:GOOGL – Get Rating) last posted its quarterly earnings data on Thursday, February 2nd. The information services provider reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.09). The firm had revenue of $76.05 billion during the quarter, compared to analysts’ expectations of $63.15 billion. Alphabet had a net margin of 21.20% and a return on equity of 23.54%. During the same quarter in the prior year, the firm posted $1.53 EPS. On average, sell-side analysts anticipate that Alphabet Inc. will post 5.12 EPS for the current year.

Alphabet Company Profile

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.