Valley Brook Capital Group Inc. Raises Stock Position in Alphabet Inc. $GOOGL

Valley Brook Capital Group Inc. grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,843 shares of the information services provider’s stock after purchasing an additional 185 shares during the period. Valley Brook Capital Group Inc.’s holdings in Alphabet were worth $854,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Alphabet by 2.9% during the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock valued at $78,839,544,000 after purchasing an additional 14,307,345 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Alphabet by 11.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock valued at $6,783,364,000 after purchasing an additional 4,473,901 shares in the last quarter. Invesco Ltd. grew its position in shares of Alphabet by 1.4% during the first quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider’s stock valued at $6,749,806,000 after purchasing an additional 593,345 shares in the last quarter. Deutsche Bank AG grew its position in shares of Alphabet by 1.9% during the first quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider’s stock valued at $6,153,481,000 after purchasing an additional 727,335 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Alphabet by 0.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider’s stock valued at $5,962,389,000 after purchasing an additional 104,859 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Up 0.5%

Shares of NASDAQ GOOGL opened at $251.69 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The company has a market cap of $3.04 trillion, a P/E ratio of 26.80, a PEG ratio of 1.69 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 firm has a 50-day simple moving average of $234.60 and a two-hundred day simple moving average of $193.72.

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

Insider Activity

In other news, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $242.92, for a total transaction of $145,752.00. Following the completion of the sale, the director owned 5,116 shares of the company’s stock, valued at approximately $1,242,778.72. The trade was a 10.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the sale, the insider directly owned 42,985 shares of the company’s stock, valued at $10,635,348.70. This represents a 29.30% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 246,150 shares of company stock valued at $55,805,379. Insiders own 11.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GOOGL. Sanford C. Bernstein raised their price objective on Alphabet from $210.00 to $260.00 and gave the company a “market perform” rating in a research report on Wednesday. Westpark Capital lifted their price target on Alphabet from $210.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Wolfe Research lifted their price target on Alphabet from $220.00 to $290.00 in a research report on Tuesday, September 30th. Barclays lifted their price target on Alphabet from $235.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 3rd. Finally, Mizuho set a $295.00 price target on Alphabet and gave the stock an “outperform” rating in a research report on Monday, September 29th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $259.12.

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.