Alphabet Inc. (NASDAQ:GOOGL) Position Raised by Brooks Moore & Associates Inc.

Brooks Moore & Associates Inc. increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1,890.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,930 shares of the information services provider’s stock after purchasing an additional 25,577 shares during the period. Alphabet accounts for about 2.1% of Brooks Moore & Associates Inc.’s investment portfolio, making the stock its 19th largest holding. Brooks Moore & Associates Inc.’s holdings in Alphabet were worth $2,576,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bornite Capital Management LP purchased a new position in Alphabet during the 1st quarter worth approximately $16,688,000. Markel Corp grew its position in Alphabet by 17.0% during the 1st quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock worth $43,110,000 after purchasing an additional 2,250 shares in the last quarter. United Bank grew its position in Alphabet by 5.9% during the 1st quarter. United Bank now owns 2,033 shares of the information services provider’s stock worth $5,654,000 after purchasing an additional 113 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Alphabet by 23.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock worth $900,929,000 after purchasing an additional 61,427 shares in the last quarter. Finally, Dakota Wealth Management grew its position in Alphabet by 20.4% during the 1st quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock worth $25,806,000 after purchasing an additional 1,570 shares in the last quarter. Institutional investors own 34.06% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, Director Ann Mather sold 340 shares of the company’s stock in a transaction dated Wednesday, January 25th. The shares were sold at an average price of $96.92, for a total transaction of $32,952.80. Following the sale, the director now directly owns 11,300 shares of the company’s stock, valued at $1,095,196. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CAO Amie Thuener O’toole sold 855 shares of the company’s stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total transaction of $77,933.25. Following the transaction, the chief accounting officer now directly owns 25,122 shares in the company, valued at $2,289,870.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ann Mather sold 340 shares of the company’s stock in a transaction that occurred on Wednesday, January 25th. The stock was sold at an average price of $96.92, for a total transaction of $32,952.80. Following the transaction, the director now owns 11,300 shares in the company, valued at $1,095,196. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 36,745 shares of company stock valued at $3,424,078. 11.44% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

GOOGL has been the topic of several research analyst reports. Rosenblatt Securities lowered their price target on shares of Alphabet from $130.00 to $128.00 and set a “buy” rating on the stock in a report on Friday, February 3rd. JMP Securities restated a “market outperform” rating and set a $132.00 price target on shares of Alphabet in a report on Friday, February 3rd. Credit Suisse Group lowered their price target on shares of Alphabet from $145.00 to $136.00 and set an “outperform” rating on the stock in a report on Friday, February 3rd. Bank of America lifted their price objective on shares of Alphabet from $116.00 to $119.00 and gave the company a “buy” rating in a research note on Tuesday, January 31st. Finally, Morgan Stanley lifted their price objective on shares of Alphabet from $125.00 to $135.00 and gave the company an “overweight” rating in a research note 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 given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $132.32.

Alphabet Stock Performance

NASDAQ GOOGL opened at $96.11 on Thursday. The stock has a market cap of $1.23 trillion, a P/E ratio of 21.12, a PEG ratio of 1.25 and a beta of 1.09. The company’s 50-day simple moving average is $94.51 and its 200 day simple moving average is $96.29. Alphabet Inc. has a twelve month low of $83.34 and a twelve month high of $143.79. 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:GOOGL – Get Rating) last posted its earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). The business had revenue of $76.05 billion during the quarter, compared to the consensus estimate of $63.15 billion. Alphabet had a net margin of 21.20% and a return on equity of 23.54%. During the same period in the previous year, the firm earned $1.53 EPS. As a group, research analysts forecast 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.