Baskin Financial Services Inc. increased its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 3.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,412 shares of the information services provider’s stock after purchasing an additional 420 shares during the period. Baskin Financial Services Inc.’s holdings in Alphabet were worth $2,224,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the business. Leisure Capital Management boosted its holdings in Alphabet by 1.1% in the third quarter. Leisure Capital Management now owns 17,160 shares of the information services provider’s stock worth $2,846,000 after purchasing an additional 182 shares in the last quarter. Sentinel Pension Advisors Inc. boosted its holdings in Alphabet by 13.0% during the third quarter. Sentinel Pension Advisors Inc. now owns 2,213 shares of the information services provider’s stock valued at $367,000 after acquiring an additional 254 shares during the period. McKinley Carter Wealth Services Inc. boosted its holdings in Alphabet by 1.1% during the third quarter. McKinley Carter Wealth Services Inc. now owns 80,123 shares of the information services provider’s stock valued at $13,288,000 after acquiring an additional 856 shares during the period. Sumitomo Life Insurance Co. boosted its holdings in Alphabet by 2.9% during the third quarter. Sumitomo Life Insurance Co. now owns 190,810 shares of the information services provider’s stock valued at $31,646,000 after acquiring an additional 5,306 shares during the period. Finally, Peoples Financial Services CORP. boosted its holdings in Alphabet by 1.3% during the third quarter. Peoples Financial Services CORP. now owns 14,939 shares of the information services provider’s stock valued at $2,478,000 after acquiring an additional 186 shares during the period. 40.03% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on GOOGL shares. Guggenheim upped their price target on shares of Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Truist Financial upped their price target on shares of Alphabet from $196.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $190.00 target price on shares of Alphabet in a research note on Monday, October 7th. Tigress Financial increased their target price on shares of Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research note on Thursday, September 26th. Finally, Roth Mkm reiterated a “buy” rating and issued a $206.00 target price on shares of Alphabet in a research note on Thursday, August 29th. Seven investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $201.76.
Insider Buying and Selling at Alphabet
In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the transaction, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the transaction, the chief executive officer now directly owns 2,106,806 shares of the company’s stock, valued at $350,361,837.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the transaction, the chief accounting officer now directly owns 31,334 shares in the company, valued at approximately $5,264,112. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 220,426 shares of company stock valued at $35,993,340. 11.55% of the stock is currently owned by insiders.
Alphabet Price Performance
GOOGL opened at $165.27 on Friday. Alphabet Inc. has a one year low of $120.21 and a one year high of $191.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The company’s 50 day simple moving average is $161.90 and its 200-day simple moving average is $168.36. The stock has a market capitalization of $2.04 trillion, a P/E ratio of 25.35, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04.
Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. During the same period last year, the firm earned $1.44 earnings per share. Sell-side analysts anticipate that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.
About Alphabet
Alphabet Inc offers 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 provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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