Hazlett Burt & Watson Inc. Buys 1,001 Shares of Alphabet Inc. $GOOGL

Hazlett Burt & Watson Inc. raised its stake in Alphabet Inc. (NASDAQ:GOOGL) by 10.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,316 shares of the information services provider’s stock after acquiring an additional 1,001 shares during the quarter. Hazlett Burt & Watson Inc.’s holdings in Alphabet were worth $1,819,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Nuveen LLC acquired a new position in shares of Alphabet during the first quarter worth $4,317,606,000. Vanguard Group Inc. raised its stake in Alphabet by 2.9% during the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock worth $78,839,544,000 after buying an additional 14,307,345 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in 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 worth $6,783,364,000 after buying an additional 4,473,901 shares during the last quarter. Amundi raised its stake in Alphabet by 11.8% during the first quarter. Amundi now owns 33,403,871 shares of the information services provider’s stock worth $5,034,992,000 after buying an additional 3,537,173 shares during the last quarter. Finally, Evergreen Quality Fund GP Ltd. raised its stake in Alphabet by 178.3% during the first quarter. Evergreen Quality Fund GP Ltd. now owns 4,003,900 shares of the information services provider’s stock worth $619,163,000 after buying an additional 2,565,400 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the transaction, the chief executive officer directly owned 2,369,619 shares in the company, valued at approximately $592,760,192.85. The trade was a 1.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Kent Walker sold 17,816 shares of the business’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the transaction, the insider owned 42,985 shares in the company, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 246,150 shares of company stock valued at $55,805,379 over the last quarter. 11.64% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GOOGL. Rosenblatt Securities lifted their target price on shares of Alphabet from $191.00 to $224.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 3rd. Westpark Capital lifted their target price on shares of Alphabet from $210.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Wells Fargo & Company set a $236.00 target price on shares of Alphabet and gave the stock an “equal weight” rating in a research note on Tuesday, October 7th. Loop Capital reissued a “hold” rating and set a $190.00 target price (up previously from $165.00) on shares of Alphabet in a research note on Tuesday, August 5th. Finally, Needham & Company LLC lifted their price target on shares of Alphabet from $220.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, September 3rd. Four analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $259.12.

Alphabet Trading Up 0.6%

NASDAQ:GOOGL opened at $253.08 on Friday. 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 firm has a 50-day moving average of $235.60 and a 200-day moving average of $194.45. The company has a market cap of $3.06 trillion, a PE ratio of 26.95, a PEG ratio of 1.70 and a beta of 1.00. Alphabet Inc. has a one year low of $140.53 and a one year high of $257.33.

Alphabet (NASDAQ:GOOGL) last posted 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 company had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. As a group, equities research analysts expect that Alphabet Inc. will post 8.9 EPS 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.