Asset Management Advisors LLC Makes New Investment in Alphabet Inc. $GOOGL

Asset Management Advisors LLC acquired a new position in Alphabet Inc. (NASDAQ:GOOGL) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 33,240 shares of the information services provider’s stock, valued at approximately $5,858,000. Alphabet makes up approximately 3.9% of Asset Management Advisors LLC’s holdings, making the stock its 10th largest position.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Mystic Asset Management Inc. lifted its stake in Alphabet by 6.7% in the first quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock worth $4,400,000 after acquiring an additional 1,791 shares during the period. Harbour Trust & Investment Management Co lifted its position in shares of Alphabet by 0.3% in the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider’s stock worth $4,187,000 after purchasing an additional 80 shares during the period. Cypress Capital LLC lifted its position in shares of Alphabet by 4.1% in the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider’s stock worth $2,213,000 after purchasing an additional 563 shares during the period. Bridgeway Capital Management LLC lifted its position in shares of Alphabet by 17.9% in the 1st quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock worth $13,637,000 after purchasing an additional 13,371 shares during the period. Finally, Alaethes Wealth LLC lifted its position in shares of Alphabet by 1.1% in the 1st quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock worth $1,182,000 after purchasing an additional 84 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GOOGL. Wolfe Research restated an “outperform” rating and set a $350.00 target price (up previously from $290.00) on shares of Alphabet in a report on Thursday. JMP Securities restated a “market outperform” rating and set a $290.00 price objective on shares of Alphabet in a research note on Wednesday, October 22nd. Roth Capital upped their price objective on Alphabet from $210.00 to $265.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Canaccord Genuity Group increased their price target on shares of Alphabet from $270.00 to $330.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Tigress Financial increased their price target on shares of Alphabet from $240.00 to $280.00 and gave the company a “strong-buy” rating in a research report on Friday, September 5th. Three research analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $301.32.

Insiders Place Their Bets

In related news, insider John Kent Walker sold 23,820 shares of the firm’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 completion of the transaction, the insider owned 42,999 shares of the company’s stock, valued at $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the transaction, the chief executive officer directly owned 2,397,392 shares of the company’s stock, valued at approximately $598,149,304. This trade represents a 1.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 246,150 shares of company stock valued at $55,805,379. 11.64% of the stock is owned by insiders.

Alphabet Stock Performance

Shares of GOOGL stock opened at $281.48 on Friday. The firm 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. 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 fifty day moving average of $242.49 and a 200 day moving average of $198.83. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $291.59.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. As a group, research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

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.