Moors & Cabot Inc. Raises Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Moors & Cabot Inc. grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 2.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,534 shares of the information services provider’s stock after acquiring an additional 170 shares during the quarter. Alphabet accounts for approximately 1.1% of Moors & Cabot Inc.’s holdings, making the stock its 10th biggest holding. Moors & Cabot Inc.’s holdings in Alphabet were worth $18,173,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in GOOGL. Lowell Blake & Associates Inc. increased its holdings in shares of Alphabet by 9.1% in the first quarter. Lowell Blake & Associates Inc. now owns 5,169 shares of the information services provider’s stock worth $14,377,000 after buying an additional 429 shares during the period. Cetera Investment Advisers increased its stake in Alphabet by 3.6% in the 1st quarter. Cetera Investment Advisers now owns 19,026 shares of the information services provider’s stock worth $52,918,000 after purchasing an additional 667 shares during the period. Prudential PLC lifted its position in Alphabet by 45.7% in the first quarter. Prudential PLC now owns 15,062 shares of the information services provider’s stock valued at $41,893,000 after purchasing an additional 4,722 shares during the last quarter. Element Capital Management LLC purchased a new stake in shares of Alphabet during the first quarter valued at approximately $3,969,000. Finally, Te Ahumairangi Investment Management Ltd grew its holdings in shares of Alphabet by 4.8% in the first quarter. Te Ahumairangi Investment Management Ltd now owns 7,081 shares of the information services provider’s stock worth $19,695,000 after purchasing an additional 323 shares during the last quarter. 1.88% of the stock is currently owned by institutional investors.

Alphabet Trading Down 1.0 %

Shares of NASDAQ GOOGL opened at $108.38 on Friday. The company has a market cap of $1.41 trillion, a PE ratio of 20.16, a P/E/G ratio of 1.73 and a beta of 1.09. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.78 and a current ratio of 2.81. The firm’s 50 day moving average price is $113.66 and its 200-day moving average price is $119.79. Alphabet Inc. has a 52-week low of $101.88 and a 52-week high of $151.55.

Alphabet (NASDAQ:GOOGLGet Rating) last released its quarterly earnings data on Tuesday, July 26th. The information services provider reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.06). The business had revenue of $57.47 billion during the quarter, compared to the consensus estimate of $57.55 billion. Alphabet had a net margin of 25.89% and a return on equity of 28.65%. During the same period last year, the company posted $27.26 earnings per share. On average, equities research analysts expect that Alphabet Inc. will post 5.2 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on GOOGL shares. Monness Crespi & Hardt dropped their price target on shares of Alphabet to $145.00 in a research report on Tuesday, July 5th. BNP Paribas lowered shares of Alphabet from an “outperform” rating to a “neutral” rating and set a $118.00 target price for the company. in a report on Wednesday, July 20th. Tigress Financial boosted their price target on Alphabet from $183.00 to $186.00 and gave the company a “strong-buy” rating in a report on Wednesday, August 3rd. William Blair reiterated an “outperform” rating on shares of Alphabet in a report on Wednesday, July 27th. Finally, Mizuho reduced their target price on Alphabet from $175.00 to $150.00 and set a “buy” rating on the stock in a research note on Friday, July 22nd. Five investment analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $147.41.

Insider Activity at Alphabet

In other Alphabet news, insider John Kent Walker sold 34,799 shares of the company’s stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $118.25, for a total transaction of $4,114,981.75. Following the transaction, the insider now owns 18,484 shares in the company, valued at approximately $2,185,733. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Alphabet news, Director Ann Mather sold 20 shares of the firm’s stock in a transaction dated Monday, June 27th. The stock was sold at an average price of $2,383.32, for a total value of $47,666.40. Following the transaction, the director now directly owns 565 shares of the company’s stock, valued at $1,346,575.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Kent Walker sold 34,799 shares of the company’s stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $118.25, for a total transaction of $4,114,981.75. Following the sale, the insider now directly owns 18,484 shares of the company’s stock, valued at approximately $2,185,733. The disclosure for this sale can be found here. Insiders have sold 43,036 shares of company stock valued at $15,564,998 over the last ninety days. Insiders own 11.44% of the company’s stock.

Alphabet Profile

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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

See Also

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:GOOGLGet Rating).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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