Alphabet Inc. (NASDAQ:GOOGL) Position Raised by Sax Wealth Advisors LLC

Sax Wealth Advisors LLC raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 13.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,521 shares of the information services provider’s stock after acquiring an additional 520 shares during the quarter. Sax Wealth Advisors LLC’s holdings in Alphabet were worth $592,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Bornite Capital Management LP acquired a new stake in shares of Alphabet during the 1st quarter valued at about $16,688,000. Markel Corp increased its position in Alphabet by 17.0% in the 1st quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock worth $43,110,000 after buying an additional 2,250 shares during the period. United Bank increased its position in Alphabet by 5.9% in the 1st quarter. United Bank now owns 2,033 shares of the information services provider’s stock worth $5,654,000 after buying an additional 113 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in Alphabet by 23.4% in 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 buying an additional 61,427 shares during the period. Finally, Dakota Wealth Management increased its position in shares of 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 purchasing an additional 1,570 shares during the period. Hedge funds and other institutional investors own 35.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Citigroup upped their price target on Alphabet from $153.00 to $168.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Roth Mkm reduced their price objective on Alphabet from $166.00 to $164.00 and set a “buy” rating on the stock in a research note on Wednesday, January 31st. StockNews.com raised Alphabet from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 20th. Needham & Company LLC reaffirmed a “buy” rating and set a $160.00 price target on shares of Alphabet in a research note on Wednesday, January 31st. Finally, JMP Securities upped their price target on Alphabet from $150.00 to $160.00 and gave the company a “market outperform” rating in a research note 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 issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $153.65.

Check Out Our Latest Stock Analysis on GOOGL

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 company’s 50 day moving average price is $141.08 and its two-hundred day moving average price is $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. The stock has a market cap of $1.85 trillion, a P/E ratio of 25.44, a P/E/G ratio of 1.38 and a beta of 1.06.

Alphabet (NASDAQ:GOOGLGet Free Report) last posted its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS 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 analysts’ expectations of $70.77 billion. During the same quarter in the previous year, the firm posted $1.05 EPS. On average, equities analysts predict that Alphabet Inc. will post 6.76 earnings per share for the current year.

Insider Activity

In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 2,377,691 shares in the company, valued at approximately $347,832,416.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total value of $94,769.40. Following the completion of the sale, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 2,377,691 shares of the company’s stock, valued at $347,832,416.39. The disclosure for this sale can be found here. Insiders sold 136,974 shares of company stock worth $19,427,217 in the last three months. Corporate insiders own 0.88% of the company’s stock.

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, 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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