Nvest Financial LLC Acquires 2,338 Shares of Alphabet Inc. $GOOGL

Nvest Financial LLC raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 11.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,098 shares of the information services provider’s stock after purchasing an additional 2,338 shares during the quarter. Alphabet accounts for about 2.1% of Nvest Financial LLC’s portfolio, making the stock its 13th largest position. Nvest Financial LLC’s holdings in Alphabet were worth $4,071,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of GOOGL. Mystic Asset Management Inc. lifted its holdings in shares of Alphabet by 6.7% in the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock worth $4,400,000 after acquiring an additional 1,791 shares during the last quarter. Harbour Trust & Investment Management Co lifted its holdings in shares of Alphabet by 0.3% in the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider’s stock worth $4,187,000 after acquiring an additional 80 shares during the last quarter. Cypress Capital LLC lifted its holdings in shares of Alphabet by 4.1% in the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider’s stock worth $2,213,000 after acquiring an additional 563 shares during the last quarter. Bridgeway Capital Management LLC lifted its holdings in shares of Alphabet by 17.9% in the 1st quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock worth $13,637,000 after acquiring an additional 13,371 shares during the last quarter. Finally, Alaethes Wealth LLC lifted its holdings in shares of Alphabet by 1.1% in the 1st quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock worth $1,182,000 after acquiring an additional 84 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Trading Up 2.7%

GOOGL stock opened at $259.92 on Monday. The company has a market capitalization of $3.14 trillion, a PE ratio of 27.68, a P/E/G ratio of 1.75 and a beta of 1.00. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $261.68. The firm’s 50-day moving average is $236.72 and its 200 day moving average is $195.85. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Analysts Set New Price Targets

Several research firms have recently issued reports on GOOGL. New Street Research raised their target price on shares of Alphabet from $275.00 to $295.00 in a report on Friday. Canaccord Genuity Group raised their target price on shares of Alphabet from $230.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, September 4th. Jefferies Financial Group raised their target price on shares of Alphabet from $230.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. DA Davidson raised their target price on shares of Alphabet from $180.00 to $190.00 and gave the stock a “neutral” rating in a report on Tuesday, September 2nd. Finally, Wall Street Zen downgraded shares of Alphabet from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. 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 stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $263.55.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the firm’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider owned 42,999 shares of the company’s stock, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the transaction, the chief accounting officer directly owned 17,293 shares in the company, valued at $4,236,785. This trade represents a 13.84% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 246,150 shares of company stock valued at $55,805,379. Company insiders own 11.55% of the company’s stock.

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.