Alphabet Inc. $GOOGL Stake Raised by Empirical Asset Management LLC

Empirical Asset Management LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,320 shares of the information services provider’s stock after buying an additional 126 shares during the period. Empirical Asset Management LLC’s holdings in Alphabet were worth $1,290,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in GOOGL. Nuveen LLC bought a new stake in shares of Alphabet during the first quarter valued at approximately $4,317,606,000. Vanguard Group Inc. raised its holdings in shares of Alphabet by 2.9% during the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock valued at $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 holdings 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 purchasing an additional 4,473,901 shares in the last quarter. Amundi raised its holdings 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 purchasing an additional 3,537,173 shares in the last quarter. Finally, Evergreen Quality Fund GP Ltd. raised its holdings 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 purchasing an additional 2,565,400 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $269.27 on Tuesday. The company’s fifty day moving average is $238.03 and its two-hundred day moving average is $196.63. 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 Inc. has a 12-month low of $140.53 and a 12-month high of $270.14. The company has a market cap of $3.26 trillion, a P/E ratio of 28.68, a price-to-earnings-growth ratio of 1.75 and a beta of 1.00.

Insider Activity at Alphabet

In other Alphabet news, Director John L. Hennessy sold 600 shares of the business’s 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 sale, the director directly owned 5,116 shares of the company’s stock, valued at $1,242,778.72. The trade was a 10.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Kent Walker sold 17,816 shares of the business’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the sale, the insider directly 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. Over the last 90 days, insiders sold 246,150 shares of company stock worth $55,805,379. Insiders own 11.64% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Citigroup boosted their target price on Alphabet from $225.00 to $280.00 and gave the stock a “buy” rating in a report on Monday, September 15th. Bank of America boosted their target price on Alphabet from $252.00 to $280.00 and gave the stock a “buy” rating in a report on Monday, October 20th. Barclays boosted their target price on Alphabet from $235.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday, September 3rd. Wolfe Research boosted their target price on Alphabet from $220.00 to $290.00 in a report on Tuesday, September 30th. Finally, Sanford C. Bernstein boosted their target price on Alphabet from $210.00 to $260.00 and gave the stock a “market perform” rating in a report on Wednesday, October 22nd. Four analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $264.34.

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.