Alphabet Inc. $GOOGL Shares Acquired by Zullo Investment Group Inc.

Zullo Investment Group Inc. lifted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 3.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,597 shares of the information services provider’s stock after purchasing an additional 333 shares during the period. Alphabet makes up 0.8% of Zullo Investment Group Inc.’s investment portfolio, making the stock its 28th largest holding. Zullo Investment Group Inc.’s holdings in Alphabet were worth $2,044,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Guardian Wealth Management Inc. increased its stake in shares of Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after purchasing an additional 119 shares in the last quarter. von Borstel & Associates Inc. acquired a new stake in Alphabet during the 1st quarter valued at $28,000. IMA Advisory Services Inc. purchased a new position in Alphabet during the first quarter worth $28,000. NBZ Investment Advisors LLC increased its position in Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after buying an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new position in shares of Alphabet in the first quarter worth $39,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total value of $694,638.90. Following the sale, the chief accounting officer directly owned 14,516 shares in the company, valued at $3,629,725.80. This trade represents a 16.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John Kent Walker sold 17,816 shares of the business’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the transaction, the insider owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. This represents a 29.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 246,150 shares of company stock valued at $55,805,379 over the last quarter. Corporate insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GOOGL. BNP Paribas lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 26th. BMO Capital Markets set a $294.00 price target on shares of Alphabet and gave the stock an “outperform” rating in a research note on Thursday, October 9th. Wall Street Zen cut Alphabet from a “buy” rating to a “hold” rating in a report on Sunday, September 21st. Oppenheimer raised their target price on shares of Alphabet from $270.00 to $300.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Roth Capital upped their price target on shares of Alphabet from $210.00 to $265.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $255.86.

Alphabet Price Performance

Shares of GOOGL stock opened at $256.55 on Tuesday. The firm has a fifty day moving average of $232.66 and a two-hundred day moving average of $192.92. The firm has a market cap of $3.10 trillion, a P/E ratio of 27.32, a P/E/G ratio of 1.71 and a beta of 1.00. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $257.33. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.16. The firm had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. As a group, research analysts anticipate that Alphabet Inc. will post 8.9 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.