Applied Finance Capital Management LLC Has $45.77 Million Holdings in Alphabet Inc. $GOOGL

Applied Finance Capital Management LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 7.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 259,713 shares of the information services provider’s stock after buying an additional 17,454 shares during the quarter. Alphabet makes up about 3.1% of Applied Finance Capital Management LLC’s holdings, making the stock its 4th biggest holding. Applied Finance Capital Management LLC’s holdings in Alphabet were worth $45,771,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOGL. Guardian Wealth Management Inc. grew its position in shares of Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after buying an additional 119 shares during the period. IMA Advisory Services Inc. purchased a new stake in shares of Alphabet in the 1st quarter worth about $28,000. von Borstel & Associates Inc. purchased a new stake in shares of Alphabet in the 1st quarter worth about $28,000. NBZ Investment Advisors LLC grew its position in shares of Alphabet by 85.7% in the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after buying an additional 90 shares during the period. Finally, CarsonAllaria Wealth Management Ltd. grew its position in shares of Alphabet by 36.4% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock worth $44,000 after buying an additional 67 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction that occurred 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 sale, the chief accounting officer owned 14,516 shares in the company, valued at approximately $3,629,725.80. This trade represents a 16.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frances Arnold sold 103 shares of the stock in a transaction that occurred 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 sale, the director directly owned 17,284 shares of the company’s stock, valued at approximately $4,202,258.92. This trade represents a 0.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 246,150 shares of company stock worth $55,805,379 in the last 90 days. Insiders own 11.64% of the company’s stock.

Alphabet Price Performance

GOOGL opened at $269.27 on Tuesday. The company’s 50-day simple moving average is $238.03 and its two-hundred day simple moving average is $196.63. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $270.14. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock has a market capitalization of $3.26 trillion, a P/E ratio of 28.68, a P/E/G ratio of 1.75 and a beta of 1.00.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on GOOGL shares. Melius Research upped their target price on shares of Alphabet from $220.00 to $255.00 in a research report on Thursday, September 25th. CIBC upped their target price on shares of Alphabet to $315.00 in a research report on Monday, October 20th. Stifel Nicolaus increased their price objective on shares of Alphabet from $222.00 to $292.00 and gave the company a “buy” rating in a research report on Friday. Weiss Ratings reissued a “buy (b)” rating on shares of Alphabet in a research report on Wednesday, October 8th. Finally, Guggenheim reissued a “buy” rating and set a $280.00 price objective (up from $210.00) on shares of Alphabet in a research report on Friday, October 17th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average target price of $264.34.

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.