AE Wealth Management LLC Purchases 661,590 Shares of Alphabet Inc. (NASDAQ:GOOGL)

AE Wealth Management LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 2,699.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 686,102 shares of the information services provider’s stock after purchasing an additional 661,590 shares during the period. AE Wealth Management LLC’s holdings in Alphabet were worth $65,626,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Artemis Wealth Advisors LLC raised its position in Alphabet by 1,900.0% in the third quarter. Artemis Wealth Advisors LLC now owns 280 shares of the information services provider’s stock worth $27,000 after acquiring an additional 266 shares during the period. Horizons Wealth Management bought a new stake in Alphabet in the second quarter worth about $33,000. Schubert & Co raised its position in Alphabet by 1,200.0% in the third quarter. Schubert & Co now owns 364 shares of the information services provider’s stock worth $35,000 after acquiring an additional 336 shares during the period. Carolina Wealth Advisors LLC raised its position in shares of Alphabet by 1,900.0% in the third quarter. Carolina Wealth Advisors LLC now owns 400 shares of the information services provider’s stock valued at $38,000 after purchasing an additional 380 shares during the period. Finally, Cardinal Capital Management Inc. bought a new stake in shares of Alphabet in the second quarter valued at approximately $41,000. 34.06% of the stock is owned by institutional investors.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 855 shares of the company’s stock in a transaction dated Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total value of $77,933.25. Following the sale, the chief accounting officer now directly owns 25,122 shares of the company’s stock, valued at approximately $2,289,870.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Amie Thuener O’toole sold 855 shares of the company’s stock in a transaction dated Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total value of $77,933.25. Following the sale, the chief accounting officer now directly owns 25,122 shares of the company’s stock, valued at approximately $2,289,870.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder 2019 Gp L.L.C. Gv bought 800,000 shares of Alphabet stock in a transaction dated 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 completion of the transaction, the insider now directly owns 11,522,248 shares in the company, valued at $195,878,216. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 1,461,702 shares of company stock valued at $36,999,217 and have sold 190,744 shares valued at $8,564,640. Insiders own 11.44% of the company’s stock.

Analysts Set New Price Targets

GOOGL has been the topic of several research reports. Susquehanna lowered their price target on shares of Alphabet from $150.00 to $120.00 and set a “positive” rating on the stock in a research report on Wednesday, October 26th. Royal Bank of Canada reduced their price objective on shares of Alphabet from $135.00 to $130.00 and set an “outperform” rating for the company in a research note on Wednesday, October 26th. Citigroup reduced their price objective on shares of Alphabet from $140.00 to $120.00 and set a “buy” rating for the company in a research note on Wednesday, October 26th. Credit Suisse Group reduced their price objective on shares of Alphabet from $134.00 to $128.00 and set an “outperform” rating for the company in a research note on Wednesday, October 26th. Finally, Susquehanna Bancshares reduced their price objective 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. Five research analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $132.00.

Alphabet Stock Up 1.1 %

Shares of NASDAQ GOOGL opened at $92.12 on Tuesday. The company has a current ratio of 2.52, a quick ratio of 2.47 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a 12 month low of $83.34 and a 12 month high of $151.55. The firm has a market capitalization of $1.19 trillion, a PE ratio of 18.29, a price-to-earnings-growth ratio of 1.62 and a beta of 1.09. The firm has a fifty day simple moving average of $92.90 and a two-hundred day simple moving average of $102.02.

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

About Alphabet

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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

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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