Culbertson A N & Co. Inc. Raises Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Culbertson A N & Co. Inc. lifted its stake in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 3.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,560 shares of the information services provider’s stock after buying an additional 1,215 shares during the period. Culbertson A N & Co. Inc.’s holdings in Alphabet were worth $5,400,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Henrickson Nauta Wealth Advisors Inc. grew its position in shares of Alphabet by 2.1% during the first quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,274 shares of the information services provider’s stock worth $511,000 after acquiring an additional 68 shares during the last quarter. CFM Wealth Partners LLC boosted its stake in Alphabet by 1.7% during the 1st quarter. CFM Wealth Partners LLC now owns 126,927 shares of the information services provider’s stock worth $19,157,000 after purchasing an additional 2,169 shares during the period. CIC Wealth LLC grew its position in Alphabet by 2.7% during the 1st quarter. CIC Wealth LLC now owns 25,316 shares of the information services provider’s stock worth $3,821,000 after purchasing an additional 675 shares during the last quarter. Eagle Wealth Strategies LLC acquired a new position in Alphabet in the first quarter valued at $219,000. Finally, Elevated Capital Advisors LLC acquired a new stake in shares of Alphabet during the first quarter worth about $215,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

Shares of GOOGL stock opened at $165.27 on Friday. The firm has a market capitalization of $2.04 trillion, a price-to-earnings ratio of 25.35, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The company has a 50 day moving average price of $161.90 and a 200 day moving average price of $168.36. 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 quick ratio of 2.08 and a current ratio of 2.08.

Alphabet (NASDAQ:GOOGLGet Free Report) last posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter in the prior year, the company earned $1.44 EPS. Sell-side analysts anticipate that Alphabet Inc. will post 7.64 EPS for the current year.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction 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 completion of the transaction, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at $5,264,112. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the transaction, the chief executive officer now directly owns 2,182,385 shares of the company’s stock, valued at approximately $354,310,204.75. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated 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 owns 31,334 shares in the company, valued at approximately $5,264,112. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 220,426 shares of company stock valued at $35,993,340 over the last 90 days. 11.55% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have commented on GOOGL shares. The Goldman Sachs Group reduced their price objective on Alphabet from $217.00 to $208.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Wolfe Research assumed coverage on Alphabet in a research note on Tuesday, July 16th. They set an “outperform” rating and a $240.00 price target for the company. Royal Bank of Canada lifted their price objective on shares of Alphabet from $200.00 to $204.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Tigress Financial upped their price objective on shares of Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research report on Thursday, September 26th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and issued a $181.00 target price on shares of Alphabet in a report on Wednesday, July 24th. Seven equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $201.76.

Check Out Our Latest Report on Alphabet

Alphabet Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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