Laurel Wealth Advisors Inc. Buys 18,628 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Laurel Wealth Advisors Inc. raised its stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1,918.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,599 shares of the information services provider’s stock after purchasing an additional 18,628 shares during the period. Laurel Wealth Advisors Inc.’s holdings in Alphabet were worth $1,875,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of GOOGL. Massachusetts Financial Services Co. MA lifted its holdings in shares of Alphabet by 1,955.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 61,134,061 shares of the information services provider’s stock worth $5,847,474,000 after acquiring an additional 58,159,150 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of Alphabet by 1,928.6% during the 3rd quarter. Fisher Asset Management LLC now owns 42,474,883 shares of the information services provider’s stock worth $4,062,723,000 after acquiring an additional 40,381,114 shares during the period. Nuveen Asset Management LLC increased its position in shares of Alphabet by 1,731.5% during the 3rd quarter. Nuveen Asset Management LLC now owns 33,615,585 shares of the information services provider’s stock worth $3,215,331,000 after purchasing an additional 31,780,148 shares in the last quarter. Jennison Associates LLC increased its position in shares of Alphabet by 1,690.3% during the 3rd quarter. Jennison Associates LLC now owns 26,231,920 shares of the information services provider’s stock worth $2,509,083,000 after purchasing an additional 24,766,730 shares in the last quarter. Finally, Lazard Asset Management LLC increased its position in shares of Alphabet by 1,859.4% during the 3rd quarter. Lazard Asset Management LLC now owns 21,883,290 shares of the information services provider’s stock worth $2,093,134,000 after purchasing an additional 20,766,438 shares in the last quarter. 34.06% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Ann Mather sold 380 shares of the business’s stock in a transaction dated Tuesday, December 27th. The shares were 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 $1,008,412. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, SVP Prabhakar Raghavan sold 22,203 shares of the company’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 completion of the sale, the senior vice president now owns 76,579 shares of the company’s stock, valued at $6,872,965.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ann Mather sold 380 shares of the company’s stock in a transaction dated Tuesday, December 27th. The stock was sold at an average price of $89.24, for a total transaction of $33,911.20. Following the sale, the director now directly owns 11,300 shares of the company’s stock, valued at approximately $1,008,412. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,745 shares of company stock valued at $3,424,078. 11.44% of the stock is owned by company insiders.

Alphabet Price Performance

NASDAQ:GOOGL opened at $90.63 on Monday. Alphabet Inc. has a one year low of $83.34 and a one year high of $143.79. The company has a market cap of $1.16 trillion, a P/E ratio of 19.91, a P/E/G ratio of 1.25 and a beta of 1.09. The firm’s fifty day moving average price is $94.19 and its two-hundred day moving average price is $96.59. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.38 and a quick ratio of 2.34.

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 company had revenue of $76.05 billion during the quarter, compared to analyst estimates of $63.15 billion. Alphabet had a net margin of 21.20% and a return on equity of 23.54%. During the same quarter in the prior year, the firm earned $1.53 earnings per share. Equities analysts expect that Alphabet Inc. will post 5.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Truist Financial dropped their target price on shares of Alphabet from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, February 3rd. Mizuho lowered their price objective on shares of Alphabet from $140.00 to $135.00 and set a “buy” rating for the company in a research report on Wednesday, November 30th. Wells Fargo & Company raised their price objective on shares of Alphabet from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, February 3rd. Loop Capital raised their price objective on shares of Alphabet from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, February 8th. Finally, Tigress Financial lowered their price objective on shares of Alphabet from $186.00 to $160.00 and set a “strong-buy” rating for the company in a research report on Friday, January 6th. Five research analysts have rated the stock with a hold rating, thirty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.32.

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.