Alphabet Inc. $GOOGL is DekaBank Deutsche Girozentrale’s 4th Largest Position

DekaBank Deutsche Girozentrale decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 2.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,282,439 shares of the information services provider’s stock after selling 314,536 shares during the quarter. Alphabet accounts for approximately 3.6% of DekaBank Deutsche Girozentrale’s holdings, making the stock its 4th biggest position. DekaBank Deutsche Girozentrale owned approximately 0.09% of Alphabet worth $2,045,738,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Journey Advisory Group LLC raised its position in Alphabet by 19.5% in the 2nd quarter. Journey Advisory Group LLC now owns 87,894 shares of the information services provider’s stock worth $15,489,000 after buying an additional 14,313 shares during the last quarter. Bogart Wealth LLC increased its position in shares of Alphabet by 10.3% during the 2nd quarter. Bogart Wealth LLC now owns 139,498 shares of the information services provider’s stock valued at $24,584,000 after purchasing an additional 13,074 shares during the last quarter. Alexis Investment Partners LLC increased its position in shares of Alphabet by 5.6% during the 2nd quarter. Alexis Investment Partners LLC now owns 3,556 shares of the information services provider’s stock valued at $635,000 after purchasing an additional 189 shares during the last quarter. Drive Wealth Management LLC increased its position in shares of Alphabet by 2.6% during the 2nd quarter. Drive Wealth Management LLC now owns 26,483 shares of the information services provider’s stock valued at $4,667,000 after purchasing an additional 680 shares during the last quarter. Finally, Canvas Wealth Advisors LLC increased its position in shares of Alphabet by 8.7% during the 2nd quarter. Canvas Wealth Advisors LLC now owns 118,489 shares of the information services provider’s stock valued at $22,819,000 after purchasing an additional 9,452 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Activity at Alphabet

In other Alphabet news, insider John Kent Walker sold 17,816 shares of the stock in a transaction on Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the sale, the insider owned 42,985 shares in the company, valued at $10,635,348.70. This trade represents a 29.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John L. Hennessy sold 600 shares of the stock in a transaction on Monday, October 13th. The stock was sold at an average price of $242.92, for a total value of $145,752.00. Following the completion of the sale, the director owned 5,116 shares in the company, valued at approximately $1,242,778.72. The trade was a 10.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 246,150 shares of company stock worth $55,805,379 in the last ninety days. Corporate insiders own 11.64% of the company’s stock.

Alphabet Stock Up 2.5%

Shares of GOOGL opened at $281.48 on Friday. The stock has a market capitalization of $3.40 trillion, a price-to-earnings ratio of 27.76, a price-to-earnings-growth ratio of 1.86 and a beta of 1.00. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $291.59. The business’s 50 day simple moving average is $242.49 and its 200-day simple moving average is $198.83. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The company had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. As a group, equities analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on GOOGL. BNP Paribas Exane upped their price target on shares of Alphabet from $187.00 to $247.00 and gave the company a “neutral” rating in a research report on Tuesday, October 21st. Wells Fargo & Company upped their price target on shares of Alphabet from $236.00 to $268.00 and gave the company an “equal weight” rating in a research report on Thursday. Moffett Nathanson upped their price target 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. Guggenheim upped their price target on shares of Alphabet from $280.00 to $330.00 and gave the company a “buy” rating in a research report on Thursday. Finally, DZ Bank reaffirmed a “buy” rating on shares of Alphabet in a research report on Thursday. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $301.32.

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.