Addison Advisors LLC Boosts Stake in Alphabet Inc. (NASDAQ:GOOGL)

Addison Advisors LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 5.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,063 shares of the information services provider’s stock after purchasing an additional 329 shares during the quarter. Addison Advisors LLC’s holdings in Alphabet were worth $793,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in GOOGL. Spreng Capital Management Inc. boosted its stake 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 purchasing an additional 5 shares during the period. West Family Investments Inc. boosted its position in shares of Alphabet by 0.3% during the first quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock worth $4,878,000 after buying an additional 6 shares during the period. Maple Capital Management Inc. grew its holdings in shares of Alphabet by 2.1% during the first quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock worth $823,000 after buying an additional 6 shares in the last quarter. Private Advisory Group LLC raised its position in Alphabet by 1.8% in the 1st quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock valued at $1,115,000 after buying an additional 7 shares during the last quarter. Finally, Weik Capital Management raised its position in Alphabet by 0.5% in the 1st quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock valued at $4,264,000 after buying an additional 8 shares during the last quarter. Hedge funds and other institutional investors own 35.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. JMP Securities raised their price target on shares of Alphabet from $150.00 to $160.00 and gave the stock a “market outperform” rating in a research note on Wednesday, January 31st. Barclays lowered their price target on shares of Alphabet from $180.00 to $173.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 31st. BMO Capital Markets increased their price objective on shares of Alphabet from $170.00 to $178.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. Redburn Atlantic lifted their target price on Alphabet from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Finally, Wedbush reissued an “outperform” rating and set a $160.00 price target on shares of Alphabet in a research report on Wednesday, January 31st. Five research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $153.65.

View Our Latest Research Report on GOOGL

Insiders Place Their Bets

In related news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $133.97, for a total value of $26,794.00. Following the transaction, the director now directly owns 6,984 shares of the company’s stock, valued at $935,646.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the sale, the chief executive officer now directly owns 2,377,691 shares of the company’s stock, valued at approximately $347,832,416.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 200 shares of the stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $133.97, for a total transaction of $26,794.00. Following the completion of the transaction, the director now directly owns 6,984 shares of the company’s stock, valued at approximately $935,646.48. The disclosure for this sale can be found here. Insiders have sold 136,974 shares of company stock worth $19,427,217 over the last ninety days. Corporate insiders own 0.88% of the company’s stock.

Alphabet Stock Up 2.1 %

NASDAQ GOOGL opened at $149.00 on Friday. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The company has a market cap of $1.86 trillion, a price-to-earnings ratio of 25.69, a PEG ratio of 1.35 and a beta of 1.06. The company has a 50 day moving average of $140.72 and a 200-day moving average of $135.72. Alphabet Inc. has a 1-year low of $88.57 and a 1-year high of $153.78.

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

Alphabet Profile

(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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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