Alphabet Inc. $GOOGL Shares Bought by Arnhold LLC

Arnhold LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 222,743 shares of the information services provider’s stock after purchasing an additional 6,157 shares during the period. Alphabet comprises approximately 3.6% of Arnhold LLC’s holdings, making the stock its 4th biggest holding. Arnhold LLC’s holdings in Alphabet were worth $39,254,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. First National Bank of Hutchinson acquired a new position in shares of Alphabet during the 2nd quarter valued at $213,000. Manchester Financial Inc. grew its position in shares of Alphabet by 38.9% during the 2nd quarter. Manchester Financial Inc. now owns 3,891 shares of the information services provider’s stock valued at $686,000 after buying an additional 1,089 shares during the last quarter. Koshinski Asset Management Inc. grew its position in shares of Alphabet by 1.0% during the 2nd quarter. Koshinski Asset Management Inc. now owns 33,383 shares of the information services provider’s stock valued at $5,883,000 after buying an additional 337 shares during the last quarter. Citizens Business Bank grew its position in shares of Alphabet by 1.7% during the 2nd quarter. Citizens Business Bank now owns 31,995 shares of the information services provider’s stock valued at $5,638,000 after buying an additional 540 shares during the last quarter. Finally, Curbstone Financial Management Corp grew its position in Alphabet by 19.2% in the 2nd quarter. Curbstone Financial Management Corp now owns 9,048 shares of the information services provider’s stock worth $1,594,000 after purchasing an additional 1,456 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Down 0.7%

Alphabet stock opened at $267.47 on Wednesday. The company has a market capitalization of $3.23 trillion, a P/E ratio of 28.48, a P/E/G ratio of 1.82 and a beta of 1.00. The firm’s fifty day simple moving average is $239.35 and its 200-day simple moving average is $197.43. 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 Inc. has a 1-year low of $140.53 and a 1-year high of $270.73.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total value of $8,108,750.00. Following the transaction, the chief executive officer directly owned 2,397,392 shares in the company, valued at approximately $598,149,304. This trade represents a 1.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the transaction, the chief accounting officer owned 17,293 shares in the company, valued at $4,236,785. The trade was a 13.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 246,150 shares of company stock worth $55,805,379. 11.55% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on GOOGL. Royal Bank Of Canada increased their price objective on shares of Alphabet from $220.00 to $260.00 and gave the company an “outperform” rating in a report on Wednesday, September 3rd. Cantor Fitzgerald increased their price objective on shares of Alphabet from $201.00 to $265.00 and gave the company a “neutral” rating in a report on Monday, October 13th. JPMorgan Chase & Co. restated a “buy” rating on shares of Alphabet in a report on Monday. Barclays raised their target price on shares of Alphabet from $235.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday, September 3rd. Finally, Melius Research upped their price target on shares of Alphabet from $220.00 to $255.00 in a research report on Thursday, September 25th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus 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.