Cornerstone Wealth Management LLC Purchases 693 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Cornerstone Wealth Management LLC increased its holdings in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 1.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,195 shares of the information services provider’s stock after buying an additional 693 shares during the period. Cornerstone Wealth Management LLC’s holdings in Alphabet were worth $5,914,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GOOGL. Live Oak Investment Partners acquired a new position in Alphabet during the fourth quarter valued at approximately $26,000. CarsonAllaria Wealth Management Ltd. raised its position in Alphabet by 136.7% during the second quarter. CarsonAllaria Wealth Management Ltd. now owns 284 shares of the information services provider’s stock valued at $34,000 after purchasing an additional 164 shares in the last quarter. VitalStone Financial LLC raised its position in Alphabet by 1,900.0% during the second quarter. VitalStone Financial LLC now owns 280 shares of the information services provider’s stock valued at $34,000 after purchasing an additional 266 shares in the last quarter. Sanctuary Wealth Management L.L.C. acquired a new position in Alphabet during the fourth quarter valued at approximately $34,000. Finally, Turim 21 Investimentos Ltda. acquired a new position in Alphabet during the third quarter valued at approximately $38,000. 35.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 28,281 shares of the stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $141.40, for a total value of $3,998,933.40. Following the completion of the sale, the insider now owns 25,002 shares in the company, valued at approximately $3,535,282.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Alphabet news, insider John Kent Walker sold 28,281 shares of the stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $141.40, for a total value of $3,998,933.40. Following the completion of the sale, the insider now owns 25,002 shares in the company, valued at approximately $3,535,282.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 420 shares of the stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $133.32, for a total transaction of $55,994.40. Following the completion of the sale, the chief accounting officer now owns 26,833 shares of the company’s stock, valued at approximately $3,577,375.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 136,974 shares of company stock worth $19,427,217. Insiders own 0.88% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the subject of several research analyst reports. Needham & Company LLC restated a “buy” rating and set a $160.00 price objective on shares of Alphabet in a research report on Wednesday, January 31st. KeyCorp upped their price target on shares of Alphabet from $153.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday, January 29th. Wells Fargo & Company upped their price target on shares of Alphabet from $126.00 to $129.00 and gave the stock an “equal weight” rating in a report on Thursday, November 16th. Wolfe Research upped their price target on shares of Alphabet from $170.00 to $180.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. Finally, StockNews.com upgraded shares of Alphabet from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 20th. Five research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $153.65.

View Our Latest Report on GOOGL

Alphabet Trading Up 2.1 %

GOOGL opened at $149.00 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. Alphabet Inc. has a fifty-two week low of $88.57 and a fifty-two week high of $153.78. The firm has a market capitalization of $1.86 trillion, a PE ratio of 25.69, a P/E/G ratio of 1.35 and a beta of 1.06. The company’s 50-day moving average is $140.72 and its 200 day moving average is $135.62.

Alphabet (NASDAQ:GOOGLGet Free Report) last posted its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The company had revenue of $86.31 billion for the quarter, compared to analyst estimates of $70.77 billion. During the same quarter in the prior year, the business posted $1.05 EPS. As a group, research analysts predict that Alphabet Inc. will post 6.76 earnings per share for the current fiscal year.

About Alphabet

(Free Report)

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

Featured Stories

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGLFree Report).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.