Steel Peak Wealth Management LLC Grows Position in Alphabet Inc. (NASDAQ:GOOGL)

Steel Peak Wealth Management LLC grew its position in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 1,762.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 324,864 shares of the information services provider’s stock after purchasing an additional 307,425 shares during the quarter. Alphabet makes up approximately 2.3% of Steel Peak Wealth Management LLC’s portfolio, making the stock its 8th largest holding. Steel Peak Wealth Management LLC’s holdings in Alphabet were worth $31,073,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Louisiana State Employees Retirement System bought a new position in Alphabet during the third quarter worth $55,305,000. Griffin Asset Management Inc. increased its position in Alphabet by 1,900.0% during the third quarter. Griffin Asset Management Inc. now owns 52,240 shares of the information services provider’s stock worth $4,997,000 after acquiring an additional 49,628 shares during the period. Farmers Trust Co. increased its position in Alphabet by 2.2% during the second quarter. Farmers Trust Co. now owns 5,924 shares of the information services provider’s stock worth $12,910,000 after acquiring an additional 129 shares during the period. Ziegler Capital Management LLC increased its position in Alphabet by 62.3% during the second quarter. Ziegler Capital Management LLC now owns 33,282 shares of the information services provider’s stock worth $72,531,000 after acquiring an additional 12,774 shares during the period. Finally, Wilkinson Global Asset Management LLC increased its position in Alphabet by 1,900.0% during the third quarter. Wilkinson Global Asset Management LLC now owns 6,460 shares of the information services provider’s stock worth $618,000 after acquiring an additional 6,137 shares during the period. Institutional investors own 34.06% of the company’s stock.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 855 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $2,289,870.30. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 855 shares of the company’s stock in a transaction that occurred 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 transaction, the chief accounting officer now 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 SEC, which is available at this hyperlink. Also, SVP Prabhakar Raghavan sold 22,203 shares of the company’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total value of $1,992,719.25. Following the transaction, the senior vice president now directly owns 76,579 shares of the company’s stock, valued at approximately $6,872,965.25. The disclosure for this sale can be found here. In the last three months, insiders acquired 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 owned by company insiders.

Analyst Upgrades and Downgrades

GOOGL has been the topic of several analyst reports. Wells Fargo & Company lowered their price target on shares of Alphabet from $160.00 to $145.00 and set an “overweight” rating on the stock in a report on Wednesday, October 26th. Truist Financial lowered their price target on shares of Alphabet from $136.00 to $130.00 and set a “buy” rating on the stock in a report on Wednesday, October 26th. Tigress Financial lowered their price target on shares of Alphabet from $186.00 to $160.00 and set a “strong-buy” rating on the stock in a report on Friday, January 6th. StockNews.com initiated coverage on shares of Alphabet in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, Morgan Stanley boosted their price target on shares of Alphabet from $120.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday. Five research 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. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $132.13.

Alphabet Stock Performance

Shares of GOOGL stock opened at $93.05 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.52 and a quick ratio of 2.47. The stock has a market cap of $1.20 trillion, a PE 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 moving average of $93.00 and a 200-day moving average of $101.63. Alphabet Inc. has a one year low of $83.34 and a one year high of $151.55.

Alphabet (NASDAQ:GOOGLGet Rating) last announced its quarterly earnings results on Tuesday, October 25th. The information services provider reported $1.06 EPS for the quarter, missing analysts’ consensus estimates 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 net margin of 23.75% and a return on equity of 26.41%. During the same period last year, the company earned $1.40 earnings per share. As a group, sell-side 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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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