Heritage Investors Management Corp Increases Position in Alphabet Inc. (NASDAQ:GOOGL)

Heritage Investors Management Corp lifted its holdings in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 1,885.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 440,162 shares of the information services provider’s stock after purchasing an additional 417,992 shares during the quarter. Alphabet accounts for approximately 2.1% of Heritage Investors Management Corp’s investment portfolio, making the stock its 5th biggest holding. Heritage Investors Management Corp’s holdings in Alphabet were worth $42,101,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Louisiana State Employees Retirement System bought a new stake in Alphabet during the third quarter worth $55,305,000. Griffin Asset Management Inc. raised its position in Alphabet by 1,900.0% during the third quarter. Griffin Asset Management Inc. now owns 52,240 shares of the information services provider’s stock worth $4,997,000 after acquiring an additional 49,628 shares in the last quarter. Farmers Trust Co. raised its position in Alphabet by 2.2% during the second quarter. Farmers Trust Co. now owns 5,924 shares of the information services provider’s stock worth $12,910,000 after acquiring an additional 129 shares in the last quarter. Ziegler Capital Management LLC raised its position in Alphabet by 62.3% during the second quarter. Ziegler Capital Management LLC now owns 33,282 shares of the information services provider’s stock worth $72,531,000 after acquiring an additional 12,774 shares in the last quarter. Finally, Wilkinson Global Asset Management LLC raised its position in Alphabet by 1,900.0% during the third quarter. Wilkinson Global Asset Management LLC now owns 6,460 shares of the information services provider’s stock worth $618,000 after acquiring an additional 6,137 shares in the last quarter. Institutional investors own 34.06% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several analyst reports. Susquehanna Bancshares dropped their price target on shares of Alphabet from $150.00 to $120.00 and set a “positive” rating on the stock in a research report on Wednesday, October 26th. Evercore ISI decreased their price objective on shares of Alphabet from $130.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, December 21st. Mizuho decreased their price objective on shares of Alphabet from $140.00 to $135.00 and set a “buy” rating on the stock in a report on Wednesday, November 30th. New Street Research initiated coverage on shares of Alphabet in a report on Wednesday, January 4th. They issued a “buy” rating and a $118.00 price objective on the stock. Finally, Cowen decreased their price objective on shares of Alphabet to $135.00 in a report on Thursday, October 27th. Five investment 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’s stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $132.13.

Alphabet Stock Up 1.8 %

GOOGL stock opened at $99.79 on Tuesday. The stock has a market capitalization of $1.29 trillion, a P/E ratio of 19.82, a price-to-earnings-growth 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. Alphabet Inc. has a 12 month low of $83.34 and a 12 month high of $151.55. The firm has a 50-day moving average price of $93.12 and a 200-day moving average price of $101.49.

Alphabet (NASDAQ:GOOGLGet Rating) last posted its 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 company had revenue of $57.27 billion during the quarter, compared to the consensus estimate 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 company posted $1.40 EPS. As a group, equities research analysts anticipate that Alphabet Inc. will post 4.68 EPS for the current fiscal year.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 855 shares of the firm’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 value of $77,676.75. Following the completion of the transaction, the chief accounting officer now owns 24,694 shares in the company, valued at approximately $2,243,449.90. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CAO Amie Thuener O’toole sold 855 shares of the firm’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 value of $77,676.75. Following the completion of the transaction, the chief accounting officer now owns 24,694 shares in the company, valued at approximately $2,243,449.90. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Prabhakar Raghavan sold 22,203 shares of the firm’s stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the completion of the transaction, the senior vice president now owns 76,579 shares of the company’s stock, valued at approximately $6,872,965.25. The disclosure for this sale can be found here. In the last quarter, insiders acquired 661,702 shares of company stock worth $23,399,217 and sold 190,464 shares worth $8,535,735. 11.44% of the stock is owned by company insiders.

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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