Alphabet Inc. (NASDAQ:GOOGL) Position Increased by Gitterman Wealth Management LLC

Gitterman Wealth Management LLC grew its position in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 1,966.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,780 shares of the information services provider’s stock after acquiring an additional 11,210 shares during the period. Alphabet comprises 1.2% of Gitterman Wealth Management LLC’s portfolio, making the stock its 10th largest holding. Gitterman Wealth Management LLC’s holdings in Alphabet were worth $1,129,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Alphabet by 1.4% in the first quarter. Vanguard Group Inc. now owns 23,304,411 shares of the information services provider’s stock valued at $64,817,723,000 after acquiring an additional 331,945 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Alphabet by 1,884.3% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 17,922,978 shares of the information services provider’s stock valued at $1,714,333,000 after purchasing an additional 17,019,726 shares during the period. Fiera Capital Corp lifted its stake in shares of Alphabet by 1,957.3% in the second quarter. Fiera Capital Corp now owns 17,857,280 shares of the information services provider’s stock valued at $1,945,783,000 after purchasing an additional 16,989,271 shares during the period. Nordea Investment Management AB lifted its stake in shares of Alphabet by 1,830.2% in the third quarter. Nordea Investment Management AB now owns 16,487,668 shares of the information services provider’s stock valued at $1,605,074,000 after purchasing an additional 15,633,495 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Alphabet by 1,821.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 9,352,658 shares of the information services provider’s stock valued at $894,580,000 after purchasing an additional 8,865,958 shares during the period. Hedge funds and other institutional investors own 34.06% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv acquired 277,493 shares of the firm’s stock in a transaction on Friday, November 4th. The stock was bought at an average cost of $36.01 per share, for a total transaction of $9,992,522.93. Following the completion of the purchase, the insider now directly owns 870,895 shares in the company, valued at $31,360,928.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, Director Ann Mather sold 280 shares of the business’s stock in a transaction that occurred on 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 directly owns 11,200 shares in the company, valued at $1,156,176. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder 2021 Gp L.L.C. Gv acquired 277,493 shares of the firm’s stock in a transaction on Friday, November 4th. The shares were acquired at an average price of $36.01 per share, with a total value of $9,992,522.93. Following the completion of the purchase, the insider now owns 870,895 shares of the company’s stock, valued at $31,360,928.95. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 661,702 shares of company stock worth $23,399,217 and sold 190,744 shares worth $8,564,640. 11.44% of the stock is owned by insiders.

Alphabet Price Performance

Alphabet stock opened at $98.02 on Monday. Alphabet Inc. has a 1 year low of $83.34 and a 1 year high of $151.55. The firm has a 50 day moving average price of $93.03 and a 200 day moving average price of $101.55. The company has a market cap of $1.27 trillion, a price-to-earnings ratio of 19.47, a PEG ratio of 1.72 and a beta of 1.09. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.47 and a current ratio of 2.52.

Alphabet (NASDAQ:GOOGLGet Rating) last released its quarterly earnings data 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 return on equity of 26.41% and a net margin of 23.75%. The business had revenue of $57.27 billion for the quarter, compared to analysts’ expectations of $58.36 billion. During the same quarter in the prior year, the firm earned $1.40 earnings per share. Sell-side analysts predict that Alphabet Inc. will post 4.68 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently commented on GOOGL shares. Citigroup reduced their price objective on shares of Alphabet from $140.00 to $120.00 and set a “buy” rating for the company in a research note on Wednesday, October 26th. Cowen reduced their price objective on shares of Alphabet to $135.00 in a research note on Thursday, October 27th. Robert W. Baird reduced their price objective on shares of Alphabet to $120.00 in a research note on Thursday, October 27th. KeyCorp reduced their price objective on shares of Alphabet from $125.00 to $120.00 and set an “overweight” rating for the company in a research note on Tuesday, October 25th. Finally, The Goldman Sachs Group reduced their price objective on shares of Alphabet to $135.00 in a research note on Thursday, October 27th. Five investment analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.13.

Alphabet Profile

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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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