WestEnd Advisors LLC Has $32.54 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

WestEnd Advisors LLC boosted its position in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 1,977.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 340,157 shares of the information services provider’s stock after purchasing an additional 323,782 shares during the period. Alphabet accounts for about 1.1% of WestEnd Advisors LLC’s portfolio, making the stock its 23rd biggest holding. WestEnd Advisors LLC’s holdings in Alphabet were worth $32,536,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Louisiana State Employees Retirement System bought a new stake in shares of Alphabet in the 3rd quarter valued at about $55,305,000. Griffin Asset Management Inc. grew its position in shares of Alphabet by 1,900.0% in the 3rd quarter. Griffin Asset Management Inc. now owns 52,240 shares of the information services provider’s stock valued at $4,997,000 after buying an additional 49,628 shares during the last quarter. Farmers Trust Co. grew its position in shares of Alphabet by 2.2% in the 2nd quarter. Farmers Trust Co. now owns 5,924 shares of the information services provider’s stock valued at $12,910,000 after buying an additional 129 shares during the last quarter. Ziegler Capital Management LLC grew its position in shares of Alphabet by 62.3% in the 2nd quarter. Ziegler Capital Management LLC now owns 33,282 shares of the information services provider’s stock valued at $72,531,000 after buying an additional 12,774 shares during the last quarter. Finally, Wilkinson Global Asset Management LLC grew its position in shares of Alphabet by 1,900.0% in the 3rd quarter. Wilkinson Global Asset Management LLC now owns 6,460 shares of the information services provider’s stock valued at $618,000 after buying an additional 6,137 shares during the last quarter. Institutional investors and hedge funds own 34.06% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 855 shares of the stock in a transaction on Wednesday, November 2nd. The stock was sold at an average price of $90.85, for a total transaction of $77,676.75. Following the completion of the transaction, the chief accounting officer now directly owns 24,694 shares of the company’s stock, valued at $2,243,449.90. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Alphabet news, Director Ann Mather sold 280 shares of the 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 completion of the transaction, the director now directly owns 11,200 shares of the company’s stock, valued at $1,156,176. The sale 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 stock in a transaction on Wednesday, November 2nd. The shares were 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 $2,243,449.90. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 661,702 shares of company stock valued at $23,399,217 and sold 190,744 shares valued at $8,564,640. 11.44% of the stock is owned by corporate insiders.

Alphabet Stock Performance

Shares of GOOGL opened at $98.02 on Monday. The company has a current ratio of 2.52, a quick ratio of 2.47 and a debt-to-equity ratio of 0.06. The company has a market capitalization 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 stock has a 50 day moving average of $93.03 and a 200 day moving average of $101.55. Alphabet Inc. has a 12 month low of $83.34 and a 12 month high of $151.55.

Alphabet (NASDAQ:GOOGLGet Rating) last issued 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 business had revenue of $57.27 billion for the quarter, compared to analysts’ expectations of $58.36 billion. Alphabet had a net margin of 23.75% and a return on equity of 26.41%. During the same period in the previous year, the business posted $1.40 earnings per share. As a group, sell-side analysts forecast that Alphabet Inc. will post 4.68 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on GOOGL shares. JMP Securities cut their target price on Alphabet from $145.00 to $132.00 in a research report on Wednesday, November 23rd. Rosenblatt Securities cut their target price on Alphabet from $156.00 to $130.00 and set a “buy” rating on the stock in a research report on Wednesday, October 26th. MKM Partners cut their target price on Alphabet from $140.00 to $134.00 and set a “buy” rating on the stock in a research report on Wednesday, October 19th. Wells Fargo & Company cut their target price on Alphabet from $160.00 to $145.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 26th. Finally, The Goldman Sachs Group cut their target price on Alphabet to $135.00 in a research report on Thursday, October 27th. Five research analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $132.13.

Alphabet Company 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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