Alphabet Inc. (NASDAQ:GOOGL) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. grew its holdings in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1,991.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,086,939 shares of the information services provider’s stock after purchasing an additional 4,843,685 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Alphabet were worth $486,566,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of GOOGL. Bornite Capital Management LP bought a new stake in Alphabet in the 1st quarter valued at about $16,688,000. Markel Corp lifted its stake in Alphabet by 17.0% in the first quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock valued at $43,110,000 after acquiring an additional 2,250 shares during the last quarter. United Bank lifted its stake in Alphabet by 5.9% in the first quarter. United Bank now owns 2,033 shares of the information services provider’s stock valued at $5,654,000 after acquiring an additional 113 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake 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 buying an additional 61,427 shares during the last quarter. Finally, Dakota Wealth Management raised its stake in Alphabet by 20.4% during the 1st quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock valued at $25,806,000 after purchasing an additional 1,570 shares during the last quarter. Hedge funds and other institutional investors own 34.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on GOOGL shares. JMP Securities reissued a “market outperform” rating and issued a $132.00 price target on shares of Alphabet in a report on Friday, February 3rd. Mizuho reduced their price target on shares of Alphabet from $140.00 to $135.00 and set a “buy” rating on the stock in a research report on Wednesday, November 30th. MKM Partners upped their target price on shares of Alphabet from $120.00 to $126.00 in a research report on Friday, February 3rd. Tigress Financial cut their price target on shares of Alphabet from $186.00 to $160.00 and set a “strong-buy” rating on the stock in a research report on Friday, January 6th. Finally, Morgan Stanley increased their target price on Alphabet from $125.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, February 3rd. Five research analysts have rated the stock with a hold rating, thirty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $132.32.

Alphabet Trading Up 1.6 %

Shares of NASDAQ GOOGL opened at $95.13 on Tuesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.34 and a current ratio of 2.38. The business’s 50 day moving average price is $93.77 and its 200-day moving average price is $97.21. Alphabet Inc. has a fifty-two week low of $83.34 and a fifty-two week high of $143.79. The company has a market cap of $1.22 trillion, a price-to-earnings ratio of 20.90, a PEG ratio of 1.29 and a beta of 1.09.

Alphabet (NASDAQ:GOOGL – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The information services provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.09). The firm had revenue of $76.05 billion for the quarter, compared to analysts’ expectations of $63.15 billion. Alphabet had a return on equity of 23.54% and a net margin of 21.20%. During the same quarter in the previous year, the business earned $1.53 earnings per share. On average, sell-side analysts expect that Alphabet Inc. will post 5.12 earnings per share for the current year.

Insider Buying and Selling at Alphabet

In other news, Director Ann Mather sold 380 shares of the firm’s stock in a transaction on Tuesday, December 27th. The stock was sold at an average price of $89.24, for a total value of $33,911.20. Following the completion of the sale, the director now owns 11,300 shares of the company’s stock, valued at approximately $1,008,412. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Ann Mather sold 380 shares of the firm’s stock in a transaction on Tuesday, December 27th. The stock was sold at an average price of $89.24, for a total value of $33,911.20. Following the completion of the sale, the director now owns 11,300 shares of the company’s stock, valued at approximately $1,008,412. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Prabhakar Raghavan sold 22,203 shares of the firm’s stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total value 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 90 days, insiders have sold 36,745 shares of company stock valued at $3,424,078. 11.44% of the stock is currently owned by corporate insiders.

Alphabet Profile

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.