Appleton Partners Inc. MA Has $6.79 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Appleton Partners Inc. MA raised its position in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1,875.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 71,032 shares of the information services provider’s stock after purchasing an additional 67,437 shares during the quarter. Appleton Partners Inc. MA’s holdings in Alphabet were worth $6,794,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of GOOGL. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Alphabet by 1,884.3% in the 3rd 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 grew its holdings in shares of Alphabet by 1,957.3% in the 2nd quarter. Fiera Capital Corp now owns 17,857,280 shares of the information services provider’s stock valued at $1,945,783,000 after acquiring an additional 16,989,271 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of Alphabet by 1,830.2% in the 3rd 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 acquiring an additional 15,633,495 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Alphabet by 1,821.6% in the 3rd 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 acquiring an additional 8,865,958 shares in the last quarter. Finally, Raymond James & Associates grew its holdings in shares of Alphabet by 1,927.0% in the 3rd quarter. Raymond James & Associates now owns 8,284,714 shares of the information services provider’s stock valued at $792,433,000 after acquiring an additional 7,875,993 shares in the last quarter. Institutional investors and hedge funds own 34.06% of the company’s stock.

Analyst Ratings Changes

GOOGL has been the subject of several analyst reports. Needham & Company LLC decreased their price objective on Alphabet from $160.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, December 22nd. StockNews.com initiated coverage on Alphabet in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Morgan Stanley raised their price objective on Alphabet from $120.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, January 18th. Tigress Financial decreased their price objective on Alphabet from $186.00 to $160.00 and set a “strong-buy” rating for the company in a report on Friday, January 6th. Finally, Susquehanna Bancshares reduced their price target on Alphabet from $150.00 to $120.00 and set a “positive” rating for the company in a report on Wednesday, October 26th. Five equities research analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $132.13.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 855 shares of the business’s stock in a transaction that occurred on Wednesday, November 2nd. The shares were 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 in the company, valued at $2,243,449.90. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, major shareholder 2021 Gp L.L.C. Gv bought 182,312 shares of the firm’s stock in a transaction on Wednesday, November 9th. The shares were purchased at an average price of $34.60 per share, with a total value of $6,307,995.20. Following the completion of the purchase, the insider now owns 1,294,527 shares in the company, valued at approximately $44,790,634.20. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 855 shares of the business’s 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 sale, the chief accounting officer now directly owns 24,694 shares in the company, valued at approximately $2,243,449.90. The disclosure for this sale can be found here. Over the last three months, insiders bought 661,702 shares of company stock worth $23,399,217 and sold 190,464 shares worth $8,535,735. Company insiders own 11.44% of the company’s stock.

Alphabet Stock Up 1.8 %

NASDAQ GOOGL opened at $99.79 on Tuesday. Alphabet Inc. has a 1-year low of $83.34 and a 1-year high of $151.55. The company has a market cap of $1.29 trillion, a price-to-earnings ratio of 19.82, a PEG ratio of 1.72 and a beta of 1.09. 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 50 day moving average of $93.12 and a 200-day moving average of $101.49.

Alphabet (NASDAQ:GOOGL – Get Rating) last announced its quarterly earnings data 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). Alphabet had a net margin of 23.75% and a return on equity of 26.41%. The firm had revenue of $57.27 billion for the quarter, compared to analyst estimates of $58.36 billion. During the same quarter in the prior year, the firm earned $1.40 earnings per share. On average, equities research analysts expect that Alphabet Inc. will post 4.68 earnings per share for the current fiscal year.

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.