Alphabet Inc. $GOOGL Shares Purchased by CMG Global Holdings LLC

CMG Global Holdings LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 15.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,610 shares of the information services provider’s stock after acquiring an additional 353 shares during the period. CMG Global Holdings LLC’s holdings in Alphabet were worth $503,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Alphabet by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock valued at $78,839,544,000 after purchasing an additional 14,307,345 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Alphabet by 11.4% during 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 worth $6,783,364,000 after buying an additional 4,473,901 shares in the last quarter. Invesco Ltd. grew its position in shares of Alphabet by 1.4% during the first quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider’s stock worth $6,749,806,000 after buying an additional 593,345 shares in the last quarter. Deutsche Bank AG grew its holdings in Alphabet by 1.9% during the 1st quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider’s stock worth $6,153,481,000 after acquiring an additional 727,335 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Alphabet by 0.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider’s stock worth $5,962,389,000 after acquiring an additional 104,859 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Up 2.5%

NASDAQ:GOOGL opened at $281.48 on Friday. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $291.59. The firm has a market capitalization of $3.40 trillion, a P/E ratio of 27.76, a P/E/G ratio of 1.86 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The business has a 50 day simple moving average of $242.49 and a 200 day simple moving average of $198.83.

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

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider directly owned 42,999 shares of the company’s stock, valued at $8,371,905.30. The trade was a 35.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction dated Monday, September 15th. The shares were 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 is available in the SEC filing. Insiders sold 246,150 shares of company stock valued at $55,805,379 in the last ninety days. Company insiders own 11.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Truist Financial raised their price objective on shares of Alphabet from $285.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday. Wells Fargo & Company lifted their price target on Alphabet from $236.00 to $268.00 and gave the stock an “equal weight” rating in a research note on Thursday. JMP Securities reiterated a “market outperform” rating and issued a $290.00 target price on shares of Alphabet in a research report on Wednesday, October 22nd. Evercore ISI lifted their target price on Alphabet from $300.00 to $325.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Alphabet from $260.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday. Three investment analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $301.32.

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.