Easterly Investment Partners LLC Makes New $12.32 Million Investment in Alphabet Inc. $GOOGL

Easterly Investment Partners LLC acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 69,932 shares of the information services provider’s stock, valued at approximately $12,324,000.

A number of other institutional investors also recently modified their holdings of the company. Brighton Jones LLC lifted its position in shares of Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after purchasing an additional 4,110 shares during the period. Revolve Wealth Partners LLC increased its position in shares of Alphabet by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock valued at $2,826,000 after buying an additional 506 shares during the period. Global Assets Advisory LLC raised its stake in Alphabet by 244.2% in the first quarter. Global Assets Advisory LLC now owns 51,268 shares of the information services provider’s stock worth $7,866,000 after buying an additional 36,374 shares in the last quarter. RAM Investment Partners LLC boosted its position in Alphabet by 7.6% during the 1st quarter. RAM Investment Partners LLC now owns 9,157 shares of the information services provider’s stock valued at $1,416,000 after acquiring an additional 643 shares in the last quarter. Finally, Balance Wealth LLC purchased a new position in shares of Alphabet during the 1st quarter worth approximately $272,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider John Kent Walker sold 23,820 shares of the company’s stock in a transaction on 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 sale, the insider owned 42,999 shares of the company’s stock, valued at $8,371,905.30. This represents a 35.65% 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, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction on Monday, September 15th. The stock was 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 of the company’s stock, valued at $4,236,785. The trade was a 13.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 246,150 shares of company stock valued at $55,805,379. Corporate insiders own 11.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on GOOGL shares. Cantor Fitzgerald raised their target price on shares of Alphabet from $201.00 to $265.00 and gave the company a “neutral” rating in a research note on Monday, October 13th. KeyCorp reaffirmed an “overweight” rating and set a $300.00 price objective (up previously from $265.00) on shares of Alphabet in a research report on Monday. Wedbush boosted their target price on Alphabet from $245.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, September 3rd. Finally, Citigroup lifted their price target on Alphabet from $225.00 to $280.00 and gave the stock a “buy” rating in a research report on Monday, September 15th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have given 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 a consensus price target of $264.34.

Alphabet Trading Up 3.6%

Alphabet stock opened at $269.27 on Tuesday. The firm has a 50 day moving average of $238.03 and a 200 day moving average of $196.63. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $270.14. The firm has a market capitalization of $3.26 trillion, a price-to-earnings ratio of 28.68, a P/E/G ratio of 1.75 and a beta of 1.00. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

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.