Schrum Private Wealth Management LLC Buys 2,318 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Schrum Private Wealth Management LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1,900.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,440 shares of the information services provider’s stock after purchasing an additional 2,318 shares during the quarter. Schrum Private Wealth Management LLC’s holdings in Alphabet were worth $234,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of GOOGL. Cardinal Capital Management Inc. bought a new position in Alphabet in the 2nd quarter valued at $41,000. Belmont Capital LLC lifted its holdings in shares of Alphabet by 110.0% in the 2nd quarter. Belmont Capital LLC now owns 21 shares of the information services provider’s stock worth $46,000 after buying an additional 11 shares during the period. Newfound Research LLC lifted its holdings in shares of Alphabet by 53.8% in the 2nd quarter. Newfound Research LLC now owns 40 shares of the information services provider’s stock worth $87,000 after buying an additional 14 shares during the period. DC Investments Management LLC purchased a new stake in shares of Alphabet in the 1st quarter worth $114,000. Finally, Bridgefront Capital LLC purchased a new stake in shares of Alphabet in the 1st quarter worth $225,000. Institutional investors own 34.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Sanford C. Bernstein lowered their target price on Alphabet from $130.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, October 26th. Needham & Company LLC lowered their target price on Alphabet from $160.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, December 22nd. Credit Suisse Group lowered their target price on Alphabet from $134.00 to $128.00 and set an “outperform” rating for the company in a report on Wednesday, October 26th. The Goldman Sachs Group decreased their price objective on Alphabet to $135.00 in a research note on Thursday, October 27th. Finally, Wells Fargo & Company decreased their price objective on Alphabet from $160.00 to $145.00 and set an “overweight” rating for the company in a research note on Wednesday, October 26th. Five 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 stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $132.13.

Insiders Place Their Bets

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv purchased 800,000 shares of the stock in a transaction on Monday, October 24th. The shares were bought at an average price of $17.00 per share, for a total transaction of $13,600,000.00. Following the completion of the transaction, the insider now owns 11,522,248 shares of the company’s stock, valued at approximately $195,878,216. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder 2019 Gp L.L.C. Gv bought 800,000 shares of the firm’s stock in a transaction dated Monday, October 24th. The shares were acquired at an average price 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 approximately $195,878,216. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 855 shares of the firm’s stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total value of $77,933.25. Following the completion of the transaction, the chief accounting officer now owns 25,122 shares in the company, valued at approximately $2,289,870.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 1,461,702 shares of company stock worth $36,999,217 and have sold 190,744 shares worth $8,564,640. 11.44% of the stock is currently owned by company insiders.

Alphabet Stock Up 5.3 %

Alphabet stock opened at $98.02 on Friday. The firm has a market cap of $1.27 trillion, a price-to-earnings ratio of 19.47, a price-to-earnings-growth ratio of 1.62 and a beta of 1.09. Alphabet Inc. has a 52 week low of $83.34 and a 52 week high of $151.55. The business’s 50-day moving average price is $93.03 and its 200 day moving average price is $101.55. The company has a quick ratio of 2.47, a current ratio of 2.52 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOGL – Get Rating) last posted its earnings results 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 for the quarter, compared to analyst estimates of $58.36 billion. Alphabet had a return on equity of 26.41% and a net margin of 23.75%. During the same period last year, the business earned $1.40 earnings per share. As a group, sell-side analysts anticipate 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.