J.Safra Asset Management Corp Boosts Stake in Alphabet Inc. $GOOGL

J.Safra Asset Management Corp lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,325 shares of the information services provider’s stock after purchasing an additional 196 shares during the period. J.Safra Asset Management Corp’s holdings in Alphabet were worth $1,843,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Courier Capital LLC increased its stake in shares of Alphabet by 3.1% during the 2nd quarter. Courier Capital LLC now owns 21,884 shares of the information services provider’s stock worth $3,857,000 after purchasing an additional 664 shares during the last quarter. Sagespring Wealth Partners LLC boosted its holdings in Alphabet by 13.7% in the 2nd quarter. Sagespring Wealth Partners LLC now owns 72,940 shares of the information services provider’s stock worth $12,854,000 after buying an additional 8,807 shares during the period. TD Asset Management Inc boosted its holdings in Alphabet by 0.9% in the 2nd quarter. TD Asset Management Inc now owns 5,751,739 shares of the information services provider’s stock worth $1,013,629,000 after buying an additional 48,574 shares during the period. Frazier Financial Advisors LLC boosted its holdings in Alphabet by 8.1% in the 2nd quarter. Frazier Financial Advisors LLC now owns 1,560 shares of the information services provider’s stock worth $275,000 after buying an additional 117 shares during the period. Finally, IFC Advisors LLC boosted its holdings in Alphabet by 3.0% in the 2nd quarter. IFC Advisors LLC now owns 37,070 shares of the information services provider’s stock worth $6,533,000 after buying an additional 1,065 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on GOOGL. Stifel Nicolaus raised their price objective on shares of Alphabet from $222.00 to $292.00 and gave the stock a “buy” rating in a report on Friday. Moffett Nathanson raised their price objective on shares of Alphabet from $230.00 to $295.00 and gave the stock a “buy” rating in a report on Thursday, September 25th. Citizens Jmp raised their price objective on shares of Alphabet from $250.00 to $290.00 and gave the stock an “outperform” rating in a report on Friday, September 19th. Rosenblatt Securities raised their price target on shares of Alphabet from $191.00 to $224.00 and gave the company a “neutral” rating in a report on Wednesday, September 3rd. Finally, Truist Financial raised their price target on shares of Alphabet from $225.00 to $285.00 and gave the company a “buy” rating in a report on Monday, September 22nd. Four research 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $263.55.

Alphabet Trading Up 2.7%

NASDAQ:GOOGL opened at $259.92 on Friday. Alphabet Inc. has a one year low of $140.53 and a one year high of $261.68. 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’s 50-day simple moving average is $236.72 and its 200 day simple moving average is $195.60. The firm has a market capitalization of $3.14 trillion, a P/E ratio of 27.68, a PEG ratio of 1.75 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last released 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. 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 analysts’ expectations of $93.60 billion. As a group, analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Insider Transactions at Alphabet

In other Alphabet news, Director Frances Arnold sold 103 shares of the stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total transaction of $25,042.39. Following the completion of the transaction, the director owned 17,284 shares in the company, valued at $4,202,258.92. This trade represents a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Hennessy sold 600 shares of the stock in a transaction 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 directly owned 5,116 shares in the company, valued at approximately $1,242,778.72. This represents a 10.50% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 246,150 shares of company stock valued at $55,805,379. Company insiders own 11.64% of the company’s stock.

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.