Strategic Investment Advisors MI Increases Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Strategic Investment Advisors MI boosted its stake in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 2,143.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,862 shares of the information services provider’s stock after purchasing an additional 48,595 shares during the quarter. Alphabet comprises approximately 1.1% of Strategic Investment Advisors MI’s portfolio, making the stock its 20th biggest holding. Strategic Investment Advisors MI’s holdings in Alphabet were worth $4,865,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of GOOGL. Bornite Capital Management LP purchased a new position in shares of Alphabet during the first quarter worth approximately $16,688,000. Markel Corp grew its holdings in shares of Alphabet by 17.0% in the first quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock worth $43,110,000 after purchasing an additional 2,250 shares during the last quarter. United Bank grew its holdings in shares of Alphabet by 5.9% in the first quarter. United Bank now owns 2,033 shares of the information services provider’s stock worth $5,654,000 after purchasing an additional 113 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Alphabet by 23.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock worth $900,929,000 after purchasing an additional 61,427 shares during the last quarter. Finally, Dakota Wealth Management grew its holdings in shares of Alphabet by 20.4% in the first quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock worth $25,806,000 after purchasing an additional 1,570 shares during the last quarter. 34.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GOOGL. The Goldman Sachs Group cut their target price on shares of Alphabet to $135.00 in a report on Thursday, October 27th. KeyCorp cut their target price on shares of Alphabet from $125.00 to $120.00 and set an “overweight” rating on the stock in a report on Tuesday, October 25th. Needham & Company LLC cut their target price on shares of Alphabet from $160.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, December 22nd. New Street Research began coverage on shares of Alphabet in a report on Wednesday, January 4th. They issued a “buy” rating and a $118.00 target price on the stock. Finally, Royal Bank of Canada cut their price target on shares of Alphabet from $135.00 to $130.00 and set an “outperform” rating on the stock in a report on Wednesday, October 26th. Five equities research analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $132.13.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $97.70 on Wednesday. Alphabet Inc. has a fifty-two week low of $83.34 and a fifty-two week high of $151.55. The firm has a market cap of $1.26 trillion, a price-to-earnings ratio of 19.40, a price-to-earnings-growth 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. The business has a 50-day simple moving average of $93.10 and a two-hundred day simple moving average of $101.38.

Alphabet (NASDAQ:GOOGLGet Rating) last released its quarterly 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). Alphabet had a net margin of 23.75% and a return on equity of 26.41%. The business had revenue of $57.27 billion for the quarter, compared to analysts’ expectations of $58.36 billion. During the same period in the previous year, the company earned $1.40 EPS. On average, analysts expect that Alphabet Inc. will post 4.68 earnings per share for the current year.

Insider Activity

In related news, SVP Prabhakar Raghavan sold 22,203 shares of the business’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was 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 directly owns 76,579 shares in the company, valued at approximately $6,872,965.25. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of the business’s stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $38.64, for a total transaction of $4,149,665.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Prabhakar Raghavan sold 22,203 shares of the business’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 value of $1,992,719.25. Following the transaction, the senior vice president now owns 76,579 shares of the company’s stock, valued at $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 valued at $23,399,217 and sold 190,464 shares valued at $8,535,735. Insiders own 11.44% of the company’s stock.

About Alphabet

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Alphabet, Inc is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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