Riverbridge Partners LLC Boosts Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Riverbridge Partners LLC lifted its position in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 2,333.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 463,317 shares of the information services provider’s stock after buying an additional 444,275 shares during the quarter. Riverbridge Partners LLC’s holdings in Alphabet were worth $44,316,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of GOOGL. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Alphabet by 1,884.3% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 17,922,978 shares of the information services provider’s stock worth $1,714,333,000 after purchasing an additional 17,019,726 shares during the period. Fiera Capital Corp increased its holdings in Alphabet by 1,957.3% during the 2nd quarter. Fiera Capital Corp now owns 17,857,280 shares of the information services provider’s stock worth $1,945,783,000 after purchasing an additional 16,989,271 shares during the period. Nordea Investment Management AB increased its holdings in Alphabet by 1,830.2% during the 3rd quarter. Nordea Investment Management AB now owns 16,487,668 shares of the information services provider’s stock worth $1,605,074,000 after purchasing an additional 15,633,495 shares during the period. Raymond James & Associates increased its holdings in Alphabet by 1,927.0% during the 3rd quarter. Raymond James & Associates now owns 8,284,714 shares of the information services provider’s stock worth $792,433,000 after purchasing an additional 7,875,993 shares during the period. Finally, Mackenzie Financial Corp increased its holdings in Alphabet by 1,876.5% during the 3rd quarter. Mackenzie Financial Corp now owns 7,170,066 shares of the information services provider’s stock worth $685,817,000 after purchasing an additional 6,807,300 shares during the period. Hedge funds and other institutional investors own 34.06% of the company’s stock.

Insider Activity at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 22,203 shares of the firm’s stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the completion of the transaction, the senior vice president now owns 76,579 shares of the company’s stock, valued at $6,872,965.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Alphabet news, SVP Prabhakar Raghavan sold 22,203 shares of the firm’s stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the completion of the transaction, the senior vice president now owns 76,579 shares of the company’s stock, valued at $6,872,965.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 855 shares of the firm’s stock in a transaction on Wednesday, November 2nd. The stock was sold at an average price of $90.85, for a total value of $77,676.75. Following the transaction, 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. In the last ninety days, insiders bought 1,461,702 shares of company stock valued at $36,999,217 and sold 190,744 shares valued at $8,564,640. 11.44% of the stock is currently owned by company insiders.

Alphabet Stock Performance

Shares of GOOGL stock opened at $93.05 on Friday. The company has a market cap of $1.20 trillion, a price-to-earnings ratio of 18.48, a price-to-earnings-growth ratio of 1.62 and a beta of 1.09. The stock has a 50 day simple moving average of $93.00 and a 200-day simple moving average of $101.63. Alphabet Inc. has a 12-month low of $83.34 and a 12-month high of $151.55. 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 (NASDAQ:GOOGLGet Rating) last released its quarterly earnings data on Tuesday, October 25th. The information services provider reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.19). Alphabet had a net margin of 23.75% and a return on equity of 26.41%. The firm had revenue of $57.27 billion during the quarter, compared to analysts’ expectations of $58.36 billion. During the same period in the previous year, the business earned $1.40 earnings per share. On average, equities analysts forecast that Alphabet Inc. will post 4.68 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on GOOGL. Credit Suisse Group cut their price target on Alphabet from $134.00 to $128.00 and set an “outperform” rating on the stock in a report on Wednesday, October 26th. KeyCorp cut their price target on Alphabet from $125.00 to $120.00 and set an “overweight” rating on the stock in a report on Tuesday, October 25th. MKM Partners dropped their price objective on Alphabet from $140.00 to $134.00 and set a “buy” rating on the stock in a report on Wednesday, October 19th. Evercore ISI dropped their price objective on Alphabet from $130.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, December 21st. Finally, StockNews.com started coverage on Alphabet in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Five investment analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $132.13.

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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