Adams Diversified Equity Fund Inc. Has $95.25 Million Stock Position in Alphabet Inc. $GOOGL

Adams Diversified Equity Fund Inc. decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 540,500 shares of the information services provider’s stock after selling 7,400 shares during the period. Alphabet makes up 3.4% of Adams Diversified Equity Fund Inc.’s holdings, making the stock its 5th largest position. Adams Diversified Equity Fund Inc.’s holdings in Alphabet were worth $95,252,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in GOOGL. Brighton Jones LLC raised its position in shares of Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after acquiring an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC raised its position in shares of Alphabet by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock valued at $2,826,000 after acquiring an additional 506 shares during the last quarter. Wall Street Financial Group Inc. bought a new stake in shares of Alphabet during the 1st quarter valued at $223,000. K.J. Harrison & Partners Inc raised its position in shares of Alphabet by 7.6% during the 1st quarter. K.J. Harrison & Partners Inc now owns 58,598 shares of the information services provider’s stock valued at $9,062,000 after acquiring an additional 4,130 shares during the last quarter. Finally, Joel Isaacson & Co. LLC raised its position in shares of Alphabet by 0.3% during the 1st quarter. Joel Isaacson & Co. LLC now owns 479,103 shares of the information services provider’s stock valued at $74,089,000 after acquiring an additional 1,537 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

GOOGL has been the subject of several research analyst reports. Mizuho set a $325.00 price target on shares of Alphabet in a report on Thursday. New Street Research boosted their price target on shares of Alphabet from $275.00 to $295.00 in a report on Friday, October 24th. Morgan Stanley boosted their price target on shares of Alphabet from $270.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday. UBS Group reissued a “neutral” rating and issued a $306.00 price target (up previously from $255.00) on shares of Alphabet in a report on Thursday. Finally, Stifel Nicolaus set a $333.00 price target on shares of Alphabet in a report on Thursday. Three investment analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $302.20.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $281.31 on Friday. The firm has a market cap of $3.40 trillion, a PE ratio of 27.74, a PEG ratio of 1.86 and a beta of 1.00. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $291.59. The company has a fifty day moving average price of $244.00 and a 200 day moving average price of $199.98.

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

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, September 17th. The shares were 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. This represents a 1.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Kent Walker sold 23,820 shares of the company’s stock in a transaction on Monday, August 4th. The stock was 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 approximately $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. 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. Company insiders own 11.64% of the company’s stock.

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.