Gerber Kawasaki Wealth & Investment Management Boosts Stake in Alphabet Inc. (NASDAQ:GOOGL)

Gerber Kawasaki Wealth & Investment Management lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 2,235.5% during the third quarter, Holdings Channel reports. The institutional investor owned 31,646 shares of the information services provider’s stock after purchasing an additional 30,291 shares during the quarter. Gerber Kawasaki Wealth & Investment Management’s holdings in Alphabet were worth $3,026,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Alphabet by 1,919.4% during the third quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock worth $45,628,484,000 after purchasing an additional 453,413,389 shares during the last quarter. State Street Corp raised its holdings in Alphabet by 1,900.6% during the third quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock worth $20,770,809,000 after purchasing an additional 206,300,042 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Alphabet by 1,759.2% during the third quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock worth $11,106,502,000 after purchasing an additional 109,870,525 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Alphabet by 1,955.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 61,134,061 shares of the information services provider’s stock worth $5,847,474,000 after purchasing an additional 58,159,150 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Alphabet by 1,896.9% during the third quarter. Bank of New York Mellon Corp now owns 58,060,946 shares of the information services provider’s stock worth $5,553,529,000 after purchasing an additional 55,153,448 shares during the last quarter. 34.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GOOGL. Evercore ISI reduced their price objective on Alphabet from $130.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, December 21st. Wells Fargo & Company boosted their price target on Alphabet from $145.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday, February 3rd. Roth Capital reissued a “buy” rating on shares of Alphabet in a report on Friday, February 3rd. Morgan Stanley boosted their price target on Alphabet from $125.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, February 3rd. Finally, Credit Suisse Group cut their price target on Alphabet from $145.00 to $136.00 and set an “outperform” rating for the company in a report on Friday, February 3rd. Five research 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 company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.32.

Insider Transactions at Alphabet

In other news, Director Ann Mather sold 380 shares of the company’s stock in a transaction dated 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 sale, the director now owns 11,300 shares of the company’s stock, valued at $1,008,412. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Ann Mather sold 380 shares of the stock in a transaction dated 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 of the company’s stock, valued at $1,008,412. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 637 shares of the stock in a transaction dated Wednesday, February 1st. The shares were sold at an average price of $99.87, for a total value of $63,617.19. Following the completion of the transaction, the chief accounting officer now directly owns 25,282 shares of the company’s stock, valued at approximately $2,524,913.34. 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 quarter. Company insiders own 11.44% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $93.97 on Wednesday. Alphabet Inc. has a 1-year low of $83.34 and a 1-year high of $143.79. The business has a 50-day moving average of $94.35 and a 200-day moving average of $96.30. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.38 and a quick ratio of 2.34. The company has a market capitalization of $1.20 trillion, a price-to-earnings ratio of 20.65, a PEG ratio of 1.25 and a beta of 1.09.

Alphabet (NASDAQ:GOOGL – Get Rating) last issued 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 return on equity of 23.54% and a net margin of 21.20%. The company had revenue of $76.05 billion during the quarter, compared to analysts’ expectations of $63.15 billion. During the same period in the previous year, the company earned $1.53 EPS. On average, equities analysts anticipate that Alphabet Inc. will post 5.12 EPS for the current fiscal 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.