Alphabet Inc. (NASDAQ:GOOGL) Holdings Raised by Beach Investment Counsel Inc. PA

Beach Investment Counsel Inc. PA grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1,623.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,754 shares of the information services provider’s stock after purchasing an additional 48,751 shares during the quarter. Beach Investment Counsel Inc. PA’s holdings in Alphabet were worth $4,950,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. IAG Wealth Partners LLC raised its stake in shares of Alphabet by 3,275.0% in the third quarter. IAG Wealth Partners LLC now owns 270 shares of the information services provider’s stock worth $26,000 after acquiring an additional 262 shares during the last quarter. Artemis Wealth Advisors LLC boosted its holdings in Alphabet by 1,900.0% during the third quarter. Artemis Wealth Advisors LLC now owns 280 shares of the information services provider’s stock worth $27,000 after purchasing an additional 266 shares during the last quarter. Horizons Wealth Management bought a new stake in Alphabet during the second quarter worth $33,000. Schubert & Co raised its position in Alphabet by 1,200.0% during 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 in the last quarter. Finally, Carolina Wealth Advisors LLC raised its position in Alphabet by 1,900.0% during the third quarter. Carolina Wealth Advisors LLC now owns 400 shares of the information services provider’s stock worth $38,000 after acquiring an additional 380 shares in the last quarter. Institutional investors own 34.06% of the company’s stock.

Insider Transactions at Alphabet

In other Alphabet news, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of the business’s stock in a transaction on Monday, October 31st. The stock was sold at an average price of $38.64, for a total value of $4,149,665.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of the company’s stock in a transaction on Monday, October 31st. The stock was sold at an average price of $38.64, for a total transaction of $4,149,665.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ann Mather sold 280 shares of the company’s stock in a transaction on Tuesday, October 25th. The stock was sold at an average price of $103.23, for a total transaction of $28,904.40. Following the sale, the director now directly owns 11,200 shares of the company’s stock, valued at $1,156,176. The disclosure for this sale can be found here. In the last quarter, insiders have bought 1,461,702 shares of company stock valued at $36,999,217 and have sold 190,744 shares valued at $8,564,640. Corporate insiders own 11.44% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the topic of several research reports. Susquehanna Bancshares decreased their price target on shares of Alphabet from $150.00 to $120.00 and set a “positive” rating on the stock in a research note on Wednesday, October 26th. MKM Partners lowered their price target on shares of Alphabet from $140.00 to $134.00 and set a “buy” rating for the company in a report on Wednesday, October 19th. Atlantic Securities lowered their price target on shares of Alphabet to $115.00 in a report on Thursday, October 27th. Cowen lowered their price objective on shares of Alphabet to $135.00 in a research note on Thursday, October 27th. Finally, Royal Bank of Canada reduced their price target on shares of Alphabet from $135.00 to $130.00 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 given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.13.

Alphabet Stock Up 5.3 %

Alphabet stock opened at $98.02 on Friday. Alphabet Inc. has a 1-year low of $83.34 and a 1-year high of $151.55. 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 $1.27 trillion, a PE ratio of 19.47, a P/E/G ratio of 1.62 and a beta of 1.09. The stock’s fifty day moving average is $93.03 and its two-hundred day moving average is $101.55.

Alphabet (NASDAQ:GOOGL – Get Rating) last issued its quarterly earnings results on Tuesday, October 25th. The information services provider reported $1.06 earnings per share (EPS) 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 company had revenue of $57.27 billion during the quarter, compared to analyst estimates of $58.36 billion. During the same quarter last year, the firm earned $1.40 EPS. On average, sell-side analysts expect that Alphabet Inc. will post 4.68 EPS for the current fiscal year.

About Alphabet

(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.