Gimbal Financial Grows Stock Holdings in Alphabet Inc. $GOOGL

Gimbal Financial raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,776 shares of the information services provider’s stock after buying an additional 53 shares during the quarter. Alphabet comprises about 0.3% of Gimbal Financial’s investment portfolio, making the stock its 26th largest holding. Gimbal Financial’s holdings in Alphabet were worth $489,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Missouri Trust & Investment Co increased its holdings in Alphabet by 0.3% in the 2nd quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider’s stock worth $2,981,000 after acquiring an additional 55 shares in the last quarter. AM Investment Strategies LLC increased its holdings in Alphabet by 0.9% in the 2nd quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider’s stock worth $1,141,000 after acquiring an additional 57 shares in the last quarter. Bfsg LLC boosted its stake in Alphabet by 0.6% during the 2nd quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock worth $1,838,000 after purchasing an additional 59 shares during the last quarter. Financial Council LLC boosted its stake in Alphabet by 1.0% during the 2nd quarter. Financial Council LLC now owns 5,800 shares of the information services provider’s stock worth $1,022,000 after purchasing an additional 60 shares during the last quarter. Finally, Enzi Wealth boosted its stake in Alphabet by 2.5% during the 1st quarter. Enzi Wealth now owns 2,561 shares of the information services provider’s stock worth $408,000 after purchasing an additional 62 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the company’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider owned 42,999 shares of the company’s stock, valued at $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. 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 company’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 completion of the transaction, the chief accounting officer directly owned 17,293 shares in the company, valued at $4,236,785. The trade was a 13.84% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 246,150 shares of company stock valued at $55,805,379. 11.64% of the stock is currently owned by insiders.

Alphabet Trading Down 0.1%

Shares of GOOGL stock opened at $281.31 on Friday. The company’s 50-day moving average price is $244.00 and its 200-day moving average price is $199.68. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a market cap of $3.40 trillion, a price-to-earnings ratio of 27.74, a PEG ratio of 1.86 and a beta of 1.00. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $291.59.

Alphabet (NASDAQ:GOOGL) last announced 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. The firm had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. As a group, equities analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Mizuho set a $325.00 target price on shares of Alphabet in a research note on Thursday. DZ Bank reaffirmed a “buy” rating on shares of Alphabet in a research note on Thursday. KeyCorp reaffirmed an “overweight” rating and set a $300.00 target price (up previously from $265.00) on shares of Alphabet in a research note on Monday. BMO Capital Markets set a $294.00 target price on shares of Alphabet and gave the stock an “outperform” rating in a research note on Thursday, October 9th. Finally, Roth Capital lifted their target price on shares of Alphabet from $210.00 to $265.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Three analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $301.98.

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.