Concurrent Investment Advisors LLC Has $39.95 Million Position in Alphabet Inc. $GOOGL

Concurrent Investment Advisors LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 8.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 226,683 shares of the information services provider’s stock after buying an additional 17,072 shares during the period. Alphabet comprises 0.8% of Concurrent Investment Advisors LLC’s portfolio, making the stock its 18th biggest holding. Concurrent Investment Advisors LLC’s holdings in Alphabet were worth $39,948,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOGL. Brighton Jones LLC lifted its position in shares of Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after acquiring an additional 4,110 shares during the period. Revolve Wealth Partners LLC lifted its position in shares of Alphabet by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after acquiring an additional 506 shares during the period. GAMMA Investing LLC lifted its position in shares of Alphabet by 10.5% in the 1st quarter. GAMMA Investing LLC now owns 103,870 shares of the information services provider’s stock worth $16,062,000 after acquiring an additional 9,900 shares during the period. Compass Ion Advisors LLC lifted its position in shares of Alphabet by 0.6% in the 1st quarter. Compass Ion Advisors LLC now owns 11,761 shares of the information services provider’s stock worth $1,819,000 after acquiring an additional 72 shares during the period. Finally, Segment Wealth Management LLC lifted its position in shares of Alphabet by 6.4% in the 1st quarter. Segment Wealth Management LLC now owns 87,505 shares of the information services provider’s stock worth $13,532,000 after acquiring an additional 5,286 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Insider Transactions at Alphabet

In other news, insider John Kent Walker sold 23,820 shares of the business’s stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares of the company’s stock, valued at $8,371,905.30. The trade was a 35.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the sale, the chief executive officer directly owned 2,397,392 shares in the company, valued at $598,149,304. This trade represents a 1.34% 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 in the last three months. 11.55% of the stock is owned by corporate insiders.

Alphabet Stock Down 2.4%

Shares of GOOGL opened at $250.46 on Wednesday. The company has a market capitalization of $3.03 trillion, a P/E ratio of 26.67, a PEG ratio of 1.74 and a beta of 1.00. 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 Inc. has a one year low of $140.53 and a one year high of $257.33. The business’s 50 day simple moving average is $233.60 and its 200-day simple moving average is $193.31.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.15 by $0.16. The business had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. As a group, sell-side analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Analysts Set New Price Targets

GOOGL has been the subject of several recent research reports. Cantor Fitzgerald increased their price target on shares of Alphabet from $201.00 to $265.00 and gave the stock a “neutral” rating in a research report on Monday, October 13th. Roth Capital increased 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. JPMorgan Chase & Co. reissued a “buy” rating on shares of Alphabet in a research report on Tuesday, October 14th. Oppenheimer increased their price target on shares of Alphabet from $270.00 to $300.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, UBS Group increased their price target on shares of Alphabet from $237.00 to $255.00 and gave the stock a “neutral” rating in a research report on Thursday, October 9th. Four analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $257.60.

Alphabet Company Profile

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.