Eqis Capital Management Inc. Acquires 57,650 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Eqis Capital Management Inc. increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 2,053.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,457 shares of the information services provider’s stock after purchasing an additional 57,650 shares during the period. Alphabet makes up 0.7% of Eqis Capital Management Inc.’s portfolio, making the stock its 15th biggest position. Eqis Capital Management Inc.’s holdings in Alphabet were worth $5,783,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Alphabet by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 23,304,411 shares of the information services provider’s stock valued at $64,817,723,000 after purchasing an additional 331,945 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Alphabet by 1,884.3% in the 3rd 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 in the last quarter. Fiera Capital Corp lifted its stake in Alphabet by 1,957.3% in the 2nd 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 in the last quarter. Nordea Investment Management AB lifted its stake in Alphabet by 1,830.2% in the 3rd 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 in the last quarter. Finally, Mackenzie Financial Corp lifted its stake in Alphabet by 1,876.5% in the 3rd 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 in the last quarter. Institutional investors own 34.06% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $92.12 on Friday. The stock has a fifty day moving average price of $92.82 and a 200-day moving average price of $102.19. The company has a market cap of $1.19 trillion, a price-to-earnings ratio of 18.29, a PEG ratio of 1.53 and a beta of 1.09. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.47 and a current ratio of 2.52. Alphabet Inc. has a fifty-two week low of $83.34 and a fifty-two week high of $151.55.

Alphabet (NASDAQ:GOOGLGet Rating) last released its earnings results on Tuesday, October 25th. The information services provider reported $1.06 earnings per share for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.19). The company had revenue of $57.27 billion for the quarter, compared to the consensus estimate of $58.36 billion. Alphabet had a net margin of 23.75% and a return on equity of 26.41%. During the same quarter in the previous year, the company posted $1.40 earnings per share. As a group, equities analysts anticipate that Alphabet Inc. will post 4.68 EPS for the current fiscal year.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 855 shares of the company’s stock in a transaction on Wednesday, January 4th. The stock was sold at an average price of $91.15, for a total transaction of $77,933.25. Following the completion of the sale, the chief accounting officer now directly owns 25,122 shares in the company, valued at approximately $2,289,870.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv acquired 800,000 shares of the company’s stock in a transaction that occurred on Monday, October 24th. The stock was acquired at an average cost of $17.00 per share, for a total transaction of $13,600,000.00. Following the transaction, the insider now directly owns 11,522,248 shares in the company, valued at $195,878,216. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 855 shares of the company’s stock in a transaction on Wednesday, January 4th. The stock was sold at an average price of $91.15, for a total value of $77,933.25. Following the sale, the chief accounting officer now owns 25,122 shares of the company’s stock, valued at $2,289,870.30. The disclosure for this sale can be found here. In the last three months, insiders purchased 1,461,702 shares of company stock worth $36,999,217 and sold 190,744 shares worth $8,564,640. Corporate insiders own 11.44% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on GOOGL. Evercore ISI cut their target price on Alphabet from $130.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 21st. Susquehanna Bancshares cut their target price on Alphabet from $150.00 to $120.00 and set a “positive” rating on the stock in a research note on Wednesday, October 26th. The Goldman Sachs Group cut their target price on Alphabet to $135.00 in a research note on Thursday, October 27th. JMP Securities dropped their price objective on Alphabet from $145.00 to $132.00 in a research note on Wednesday, November 23rd. Finally, Credit Suisse Group dropped their price objective on Alphabet from $134.00 to $128.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 26th. Five investment analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $132.00.

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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