Rockbridge Capital Management LLC Buys 8,012 Shares of Alphabet Inc. $GOOGL

Rockbridge Capital Management LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 48.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,699 shares of the information services provider’s stock after acquiring an additional 8,012 shares during the period. Alphabet comprises about 2.5% of Rockbridge Capital Management LLC’s investment portfolio, making the stock its 14th biggest position. Rockbridge Capital Management LLC’s holdings in Alphabet were worth $4,353,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Missouri Trust & Investment Co lifted its position in shares of Alphabet by 0.3% in the second quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider’s stock valued at $2,981,000 after acquiring an additional 55 shares in the last quarter. AM Investment Strategies LLC lifted its holdings in shares of Alphabet by 0.9% in the second quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider’s stock worth $1,141,000 after buying an additional 57 shares in the last quarter. Bfsg LLC lifted its holdings in shares of Alphabet by 0.6% in the second quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock worth $1,838,000 after buying an additional 59 shares in the last quarter. Financial Council LLC lifted its holdings in shares of Alphabet by 1.0% in the second quarter. Financial Council LLC now owns 5,800 shares of the information services provider’s stock worth $1,022,000 after buying an additional 60 shares in the last quarter. Finally, Enzi Wealth lifted its holdings in shares of Alphabet by 2.5% in the first quarter. Enzi Wealth now owns 2,561 shares of the information services provider’s stock worth $408,000 after buying an additional 62 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other 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 value of $25,042.39. Following the sale, the director owned 17,284 shares of the company’s stock, valued at approximately $4,202,258.92. This represents a 0.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total transaction of $694,638.90. Following the completion of the sale, the chief accounting officer directly owned 14,516 shares in the company, valued at approximately $3,629,725.80. This represents a 16.06% 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. 11.55% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Sanford C. Bernstein boosted their target price on shares of Alphabet from $210.00 to $260.00 and gave the stock a “market perform” rating in a report on Wednesday, October 22nd. Melius Research increased their price target on Alphabet from $220.00 to $255.00 in a research note on Thursday, September 25th. Rosenblatt Securities increased their price target on Alphabet from $191.00 to $224.00 and gave the company a “neutral” rating in a research note on Wednesday, September 3rd. Royal Bank Of Canada increased their price target on Alphabet from $220.00 to $260.00 and gave the company an “outperform” rating in a research note on Wednesday, September 3rd. Finally, Oppenheimer increased their price target on Alphabet from $270.00 to $300.00 and gave the company an “outperform” rating in a research note on Monday, October 20th. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $263.55.

Alphabet Trading Up 2.7%

Shares of GOOGL stock opened at $259.92 on Monday. Alphabet Inc. has a 1 year low of $140.53 and a 1 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 stock’s 50 day simple moving average is $236.72 and its two-hundred day simple moving average is $195.85. The company has a market cap of $3.14 trillion, a PE ratio of 27.68, a price-to-earnings-growth ratio of 1.75 and a beta of 1.00.

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.