Ingalls & Snyder LLC Buys 333,635 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Ingalls & Snyder LLC raised its stake in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 1,886.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 351,325 shares of the information services provider’s stock after buying an additional 333,635 shares during the period. Alphabet accounts for 1.9% of Ingalls & Snyder LLC’s holdings, making the stock its 8th largest holding. Ingalls & Snyder LLC’s holdings in Alphabet were worth $33,604,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in GOOGL. Vanguard Group Inc. raised its stake in shares of Alphabet by 1.4% during the first quarter. Vanguard Group Inc. now owns 23,304,411 shares of the information services provider’s stock valued at $64,817,723,000 after acquiring an additional 331,945 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Alphabet by 1,884.3% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 17,922,978 shares of the information services provider’s stock valued at $1,714,333,000 after acquiring an additional 17,019,726 shares during the last quarter. Fiera Capital Corp raised its stake in shares of Alphabet by 1,957.3% during the second quarter. Fiera Capital Corp now owns 17,857,280 shares of the information services provider’s stock valued at $1,945,783,000 after acquiring an additional 16,989,271 shares during the last quarter. Nordea Investment Management AB raised its stake in shares of Alphabet by 1,830.2% during the third quarter. Nordea Investment Management AB now owns 16,487,668 shares of the information services provider’s stock valued at $1,605,074,000 after acquiring an additional 15,633,495 shares during the last quarter. Finally, Mackenzie Financial Corp raised its stake in shares of Alphabet by 1,876.5% during the third quarter. Mackenzie Financial Corp now owns 7,170,066 shares of the information services provider’s stock valued at $685,817,000 after acquiring an additional 6,807,300 shares during the last quarter. Institutional investors and hedge funds own 34.06% of the company’s stock.

Alphabet Price Performance

GOOGL stock opened at $91.52 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.52 and a quick ratio of 2.47. Alphabet Inc. has a one year low of $83.34 and a one year high of $151.55. The stock has a market cap of $1.18 trillion, a PE ratio of 18.17, a P/E/G ratio of 1.53 and a beta of 1.09. The firm has a 50 day simple moving average of $92.56 and a two-hundred day simple moving average of $102.52.

Alphabet (NASDAQ:GOOGLGet Rating) last announced its quarterly earnings data on Tuesday, October 25th. The information services provider reported $1.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.19). Alphabet had a net margin of 23.75% and a return on equity of 26.41%. The business had revenue of $57.27 billion during the quarter, compared to analysts’ expectations of $58.36 billion. During the same period last year, the company posted $1.40 EPS. On average, analysts predict that Alphabet Inc. will post 4.68 EPS for the current fiscal year.

Insider Activity at Alphabet

In related news, SVP Prabhakar Raghavan sold 22,203 shares of the company’s stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the completion of the sale, the senior vice president now directly owns 76,579 shares in the company, valued at approximately $6,872,965.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Alphabet news, SVP Prabhakar Raghavan sold 22,203 shares of the company’s stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $89.75, for a total value of $1,992,719.25. Following the completion of the transaction, the senior vice president now directly owns 76,579 shares in the company, valued at approximately $6,872,965.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ann Mather sold 280 shares of the company’s stock in a transaction on Tuesday, October 25th. The stock was sold at an average price of $103.23, for a total transaction of $28,904.40. Following the completion of the transaction, the director now owns 11,200 shares of the company’s stock, valued at $1,156,176. The disclosure for this sale can be found here. In the last three months, insiders bought 1,461,702 shares of company stock worth $36,999,217 and sold 190,744 shares worth $8,564,640. 11.44% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Tigress Financial lowered their target price on shares of Alphabet from $186.00 to $160.00 and set a “strong-buy” rating for the company in a research note on Friday, January 6th. Robert W. Baird lowered their target price on shares of Alphabet to $120.00 in a research note on Thursday, October 27th. Morgan Stanley lowered their target price on shares of Alphabet from $125.00 to $120.00 and set an “overweight” rating for the company in a research note on Tuesday, November 15th. Susquehanna lowered their target price on shares of Alphabet from $150.00 to $120.00 and set a “positive” rating for the company in a research note on Wednesday, October 26th. Finally, Bank of America reduced their price target on shares of Alphabet from $125.00 to $114.00 and set a “buy” rating for the company in a report on Tuesday, October 4th. Five analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.00.

Alphabet Company Profile

(Get Rating)

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.

Read More

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)

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.