Chicago Partners Investment Group LLC Purchases 4,103 Shares of Alphabet Inc. $GOOGL

Chicago Partners Investment Group LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 76,995 shares of the information services provider’s stock after acquiring an additional 4,103 shares during the period. Chicago Partners Investment Group LLC’s holdings in Alphabet were worth $14,647,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in GOOGL. Vanguard Group Inc. raised its position in shares of Alphabet by 2.9% in 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Alphabet by 11.4% in 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 valued at $6,783,364,000 after buying an additional 4,473,901 shares in the last quarter. Invesco Ltd. raised its position in shares of Alphabet by 1.4% in the first quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider’s stock valued at $6,749,806,000 after buying an additional 593,345 shares in the last quarter. Deutsche Bank AG raised its position in shares of Alphabet by 1.9% in the first quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider’s stock valued at $6,153,481,000 after buying an additional 727,335 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Alphabet by 0.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider’s stock valued at $5,962,389,000 after buying an additional 104,859 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the transaction, the chief accounting officer owned 17,293 shares of the company’s stock, valued at $4,236,785. This represents a 13.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total value of $8,108,750.00. Following the completion of the transaction, the chief executive officer directly owned 2,397,392 shares of the company’s stock, valued at approximately $598,149,304. The trade was a 1.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 246,150 shares of company stock valued at $55,805,379 in the last 90 days. Corporate insiders own 11.64% of the company’s stock.

Alphabet Stock Up 2.7%

Shares of GOOGL opened at $274.57 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $275.34. The stock has a market capitalization of $3.32 trillion, a price-to-earnings ratio of 29.24, a PEG ratio of 1.81 and a beta of 1.00. The stock has a fifty day moving average of $240.86 and a 200-day moving average of $198.25.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of analyst reports. Westpark Capital lifted their price target on shares of Alphabet from $210.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. New Street Research boosted their price objective on shares of Alphabet from $275.00 to $295.00 in a research report on Friday, October 24th. BMO Capital Markets set a $294.00 price objective on shares of Alphabet and gave the company an “outperform” rating in a research report on Thursday, October 9th. Piper Sandler boosted their price objective on shares of Alphabet from $220.00 to $285.00 and gave the company an “overweight” rating in a research report on Thursday, September 18th. Finally, Moffett Nathanson boosted their price objective on shares of Alphabet from $230.00 to $295.00 and gave the company a “buy” rating in a research report on Thursday, September 25th. Three analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $266.69.

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.