Hennion & Walsh Asset Management Inc. Has $8.88 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Hennion & Walsh Asset Management Inc. raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1,443.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 92,783 shares of the information services provider’s stock after buying an additional 86,770 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Alphabet were worth $8,875,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Willow Creek Wealth Management Inc. increased its holdings in shares of Alphabet by 1,926.9% in the third quarter. Willow Creek Wealth Management Inc. now owns 18,546 shares of the information services provider’s stock valued at $1,774,000 after purchasing an additional 17,631 shares in the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of Alphabet in the third quarter valued at approximately $55,305,000. Griffin Asset Management Inc. increased its holdings in shares of Alphabet by 1,900.0% in the third quarter. Griffin Asset Management Inc. now owns 52,240 shares of the information services provider’s stock valued at $4,997,000 after purchasing an additional 49,628 shares in the last quarter. Bridgewater Advisors Inc. increased its holdings in shares of Alphabet by 3,005.0% in the third quarter. Bridgewater Advisors Inc. now owns 67,503 shares of the information services provider’s stock valued at $6,457,000 after purchasing an additional 65,329 shares in the last quarter. Finally, Adell Harriman & Carpenter Inc. increased its holdings in shares of Alphabet by 1,915.2% in the third quarter. Adell Harriman & Carpenter Inc. now owns 129,797 shares of the information services provider’s stock valued at $12,415,000 after purchasing an additional 123,356 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 a number of research reports. Needham & Company LLC reissued a “buy” rating and issued a $115.00 price target on shares of Alphabet in a report on Friday, February 3rd. Evercore ISI lowered their price target on shares of Alphabet from $130.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, December 21st. Rosenblatt Securities reduced their price objective on shares of Alphabet from $130.00 to $128.00 and set a “buy” rating on the stock in a research note on Friday, February 3rd. Barclays raised their price objective on shares of Alphabet from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, February 3rd. Finally, KeyCorp reduced their price objective on shares of Alphabet from $118.00 to $117.00 and set an “overweight” rating on the stock in a research note on Monday, January 30th. Five research analysts have rated the stock with a hold rating, thirty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $132.32.

Alphabet Stock Down 1.3 %

Shares of GOOGL stock opened at $93.86 on Wednesday. The company has a current ratio of 2.38, a quick ratio of 2.34 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a 1 year low of $83.34 and a 1 year high of $143.79. The firm’s fifty day moving average price is $93.90 and its two-hundred day moving average price is $97.05. The firm has a market capitalization of $1.20 trillion, a P/E ratio of 20.63, a PEG ratio of 1.29 and a beta of 1.09.

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

Insider Transactions at Alphabet

In other news, SVP Prabhakar Raghavan sold 22,203 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 76,579 shares in the company, valued at approximately $6,872,965.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Prabhakar Raghavan sold 22,203 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 76,579 shares in the company, valued at approximately $6,872,965.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ann Mather sold 340 shares of the business’s stock in a transaction dated Wednesday, January 25th. The stock was sold at an average price of $96.92, for a total transaction of $32,952.80. Following the transaction, the director now owns 11,300 shares in the company, valued at $1,095,196. The disclosure for this sale can be found here. Insiders have sold 36,745 shares of company stock worth $3,424,078 in the last ninety days. Insiders own 11.44% of the company’s stock.

Alphabet Company 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.