Fayez Sarofim & Co Grows Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Fayez Sarofim & Co increased its holdings in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 1,940.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,940 shares of the information services provider’s stock after buying an additional 56,051 shares during the period. Fayez Sarofim & Co’s holdings in Alphabet were worth $5,638,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Spreng Capital Management Inc. boosted its holdings in Alphabet by 4.0% in the 1st quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock worth $364,000 after acquiring an additional 5 shares during the period. West Family Investments Inc. boosted its holdings in Alphabet by 0.3% in the 1st quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock worth $4,878,000 after acquiring an additional 6 shares during the period. Maple Capital Management Inc. boosted its holdings in Alphabet by 2.1% in the 1st quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock worth $823,000 after acquiring an additional 6 shares during the period. Private Advisory Group LLC boosted its holdings in Alphabet by 1.8% in the 1st quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock worth $1,115,000 after acquiring an additional 7 shares during the period. Finally, Weik Capital Management boosted its holdings in Alphabet by 0.5% in the 1st quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock worth $4,264,000 after acquiring an additional 8 shares during the period. Institutional investors and hedge funds own 34.06% of the company’s stock.

Insider Activity at Alphabet

In related news, Director Ann Mather sold 380 shares of the stock in a transaction on Tuesday, December 27th. The stock was sold at an average price of $89.24, for a total value of $33,911.20. Following the completion of the transaction, the director now owns 11,300 shares in the company, valued at approximately $1,008,412. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Ann Mather sold 380 shares of the stock in a transaction on Tuesday, December 27th. The stock was sold at an average price of $89.24, for a total value of $33,911.20. Following the completion of the transaction, the director now owns 11,300 shares in the company, valued at approximately $1,008,412. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 855 shares of the 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 transaction, the chief accounting officer now owns 25,122 shares of the company’s stock, valued at approximately $2,289,870.30. The disclosure for this sale can be found here. Insiders sold 36,745 shares of company stock valued at $3,424,078 over the last 90 days. 11.44% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on GOOGL shares. MKM Partners upped their price target on Alphabet from $120.00 to $126.00 in a report on Friday, February 3rd. Morgan Stanley increased their target price on Alphabet from $125.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, February 3rd. Barclays increased their target price on Alphabet from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, February 3rd. Loop Capital increased their target price on Alphabet from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, February 8th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $130.00 target price on shares of Alphabet in a research note on Friday, February 10th. Five investment analysts have rated the stock with a hold rating, thirty-three 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 target price of $132.32.

Alphabet Trading Up 3.1 %

Shares of GOOGL stock opened at $93.97 on Wednesday. The stock has a 50-day simple moving average of $94.35 and a 200 day simple moving average of $96.30. Alphabet Inc. has a fifty-two week low of $83.34 and a fifty-two week high of $143.79. The stock has a market capitalization of $1.20 trillion, a P/E ratio of 20.65, a P/E/G ratio of 1.25 and a beta of 1.09. The company has a quick ratio of 2.34, a current ratio of 2.38 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOGLGet Rating) last announced its earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.09). Alphabet had a net margin of 21.20% and a return on equity of 23.54%. The firm had revenue of $76.05 billion for the quarter, compared to the consensus estimate of $63.15 billion. During the same period in the prior year, the business earned $1.53 EPS. On average, sell-side analysts expect that Alphabet Inc. will post 5.12 earnings per share for the current fiscal year.

About Alphabet

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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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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