Elefante Mark B Increases Stock Position in Alphabet Inc. $GOOGL

Elefante Mark B grew its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 1.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 34,666 shares of the information services provider’s stock after buying an additional 570 shares during the quarter. Alphabet accounts for approximately 4.6% of Elefante Mark B’s holdings, making the stock its 5th biggest holding. Elefante Mark B’s holdings in Alphabet were worth $6,109,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in GOOGL. Guardian Wealth Management Inc. boosted its holdings in Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 119 shares in the last quarter. IMA Advisory Services Inc. bought a new position in shares of Alphabet in the 1st quarter valued at about $28,000. von Borstel & Associates Inc. bought a new stake in Alphabet during the first quarter worth about $28,000. NBZ Investment Advisors LLC boosted 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 valued at $30,000 after purchasing an additional 90 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. grew its stake in Alphabet by 36.4% in the second quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock valued at $44,000 after purchasing an additional 67 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Up 2.7%

GOOGL opened at $259.92 on Friday. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $261.68. The company has a fifty day moving average of $236.72 and a 200-day moving average of $195.25. The stock has a market cap of $3.14 trillion, a PE ratio of 27.68, a price-to-earnings-growth ratio of 1.71 and a beta of 1.00. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results 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. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. On average, sell-side analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Analyst Ratings Changes

GOOGL has been the topic of a number of analyst reports. Royal Bank Of Canada upped their price objective on Alphabet from $220.00 to $260.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 3rd. Loop Capital boosted their target price on shares of Alphabet from $190.00 to $260.00 and gave the stock a “hold” rating in a report on Friday. Robert W. Baird upped their price target on shares of Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. Roth Capital lifted their target price on Alphabet from $210.00 to $265.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Finally, Melius Research upped their price target on shares of Alphabet from $220.00 to $255.00 in a research note on Thursday, September 25th. Four analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average target price of $263.20.

Insider Activity

In other news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total value of $8,108,750.00. Following the completion of the sale, the chief executive officer owned 2,397,392 shares in the company, valued at $598,149,304. This represents a 1.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the sale, the chief accounting officer directly owned 17,293 shares of the company’s stock, valued at $4,236,785. The trade was a 13.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 246,150 shares of company stock worth $55,805,379 over the last three months. 11.64% of the stock is currently owned by insiders.

Alphabet 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.