ABLE Financial Group LLC Raises Position in Alphabet Inc. (NASDAQ:GOOGL)

ABLE Financial Group LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 8.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,887 shares of the information services provider’s stock after buying an additional 657 shares during the quarter. ABLE Financial Group LLC’s holdings in Alphabet were worth $1,163,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Bornite Capital Management LP bought a new position in Alphabet during the first quarter valued at $16,688,000. Markel Corp increased its position in Alphabet by 17.0% during the first quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock valued at $43,110,000 after acquiring an additional 2,250 shares during the last quarter. United Bank increased its position in Alphabet by 5.9% during the first quarter. United Bank now owns 2,033 shares of the information services provider’s stock valued at $5,654,000 after acquiring an additional 113 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Alphabet by 23.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock valued at $900,929,000 after acquiring an additional 61,427 shares during the last quarter. Finally, Dakota Wealth Management increased its position in Alphabet by 20.4% during the first quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock valued at $25,806,000 after acquiring an additional 1,570 shares during the last quarter. Hedge funds and other institutional investors own 35.08% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $147.53 on Tuesday. Alphabet Inc. has a 52-week low of $88.57 and a 52-week high of $153.78. The firm has a market capitalization of $1.85 trillion, a price-to-earnings ratio of 25.44, a PEG ratio of 1.38 and a beta of 1.06. The company has a fifty day simple moving average of $141.08 and a 200-day simple moving average of $135.89. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05.

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

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of analyst reports. KeyCorp boosted their price objective on shares of Alphabet from $153.00 to $165.00 and gave the company an “overweight” rating in a research report on Monday, January 29th. Needham & Company LLC restated a “buy” rating and issued a $160.00 price target on shares of Alphabet in a report on Wednesday, January 31st. Truist Financial cut their price target on shares of Alphabet from $160.00 to $158.00 and set a “buy” rating on the stock in a report on Wednesday, January 31st. Monness Crespi & Hardt cut shares of Alphabet from a “buy” rating to a “neutral” rating in a report on Wednesday, October 25th. Finally, Roth Mkm dropped their target price on shares of Alphabet from $166.00 to $164.00 and set a “buy” rating on the stock in a report on Wednesday, January 31st. Five research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $153.65.

View Our Latest Analysis on GOOGL

Insider Activity

In other news, Director Frances Arnold sold 230 shares of the business’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $136.40, for a total transaction of $31,372.00. Following the transaction, the director now owns 14,515 shares of the company’s stock, valued at approximately $1,979,846. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Alphabet news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $133.97, for a total transaction of $26,794.00. Following the sale, the director now directly owns 6,984 shares in the company, valued at $935,646.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frances Arnold sold 230 shares of the business’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $136.40, for a total transaction of $31,372.00. Following the sale, the director now owns 14,515 shares in the company, valued at $1,979,846. The disclosure for this sale can be found here. In the last quarter, insiders have sold 136,974 shares of company stock valued at $19,427,217. 0.88% of the stock is currently owned by insiders.

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, devices, 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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