HM Payson & Co. Acquires 526,415 Shares of Alphabet Inc. (NASDAQ:GOOGL)

HM Payson & Co. lifted its holdings in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 1,711.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 557,175 shares of the information services provider’s stock after buying an additional 526,415 shares during the quarter. Alphabet comprises 1.5% of HM Payson & Co.’s portfolio, making the stock its 23rd biggest holding. HM Payson & Co.’s holdings in Alphabet were worth $53,294,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Bornite Capital Management LP acquired a new stake in Alphabet in the first quarter worth about $16,688,000. Markel Corp increased its position in Alphabet by 17.0% in the first quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock worth $43,110,000 after purchasing an additional 2,250 shares during the period. United Bank increased its position in Alphabet by 5.9% in the first quarter. United Bank now owns 2,033 shares of the information services provider’s stock worth $5,654,000 after purchasing an additional 113 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in Alphabet by 23.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock worth $900,929,000 after purchasing an additional 61,427 shares during the period. Finally, Dakota Wealth Management increased its position in Alphabet by 20.4% in the first quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock worth $25,806,000 after purchasing an additional 1,570 shares during the period. 34.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on GOOGL. Atlantic Securities decreased their target price on Alphabet to $115.00 in a research report on Thursday, October 27th. Evercore ISI decreased their target price on Alphabet from $130.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, December 21st. Truist Financial decreased their target price on Alphabet from $136.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday, October 26th. Tigress Financial decreased their target price on Alphabet from $186.00 to $160.00 and set a “strong-buy” rating for the company in a research report on Friday, January 6th. Finally, Sanford C. Bernstein decreased their target price on Alphabet from $130.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, October 26th. Five equities research analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $132.00.

Alphabet Trading Down 0.9 %

Shares of Alphabet stock opened at $91.29 on Wednesday. Alphabet Inc. has a 12-month low of $83.34 and a 12-month high of $151.55. The stock has a market cap of $1.18 trillion, a P/E ratio of 18.13, a P/E/G ratio of 1.62 and a beta of 1.09. The company has a quick ratio of 2.47, a current ratio of 2.52 and a debt-to-equity ratio of 0.06. The business’s 50 day moving average is $92.94 and its 200-day moving average is $101.88.

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 return on equity of 26.41% and a net margin of 23.75%. The company had revenue of $57.27 billion for the quarter, compared to the consensus estimate of $58.36 billion. During the same quarter in the prior year, the company earned $1.40 EPS. Equities research analysts predict that Alphabet Inc. will post 4.68 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 855 shares of Alphabet stock in a transaction dated Wednesday, November 2nd. The shares were sold at an average price of $90.85, for a total transaction of $77,676.75. Following the completion of the sale, the chief accounting officer now owns 24,694 shares of the company’s stock, valued at approximately $2,243,449.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Ann Mather sold 280 shares of Alphabet stock in a transaction dated Tuesday, October 25th. The shares were sold at an average price of $103.23, for a total transaction of $28,904.40. Following the completion of the sale, the director now owns 11,200 shares of the company’s stock, valued at approximately $1,156,176. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 855 shares of Alphabet stock in a transaction dated Wednesday, November 2nd. The stock was sold at an average price of $90.85, for a total transaction of $77,676.75. Following the sale, the chief accounting officer now directly owns 24,694 shares of the company’s stock, valued at approximately $2,243,449.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 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.

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.

Featured Articles

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.