Alphabet Inc. $GOOGL Stake Boosted by Rehmann Capital Advisory Group

Rehmann Capital Advisory Group increased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 10.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,174 shares of the information services provider’s stock after purchasing an additional 3,852 shares during the period. Rehmann Capital Advisory Group’s holdings in Alphabet were worth $6,904,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Gimbal Financial increased its stake in Alphabet by 1.9% in the second quarter. Gimbal Financial now owns 2,776 shares of the information services provider’s stock valued at $489,000 after acquiring an additional 53 shares during the period. Missouri Trust & Investment Co grew its stake in Alphabet by 0.3% during the second quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider’s stock worth $2,981,000 after buying an additional 55 shares during the last quarter. AM Investment Strategies LLC grew its stake in Alphabet by 0.9% during the second quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider’s stock worth $1,141,000 after buying an additional 57 shares during the last quarter. Bfsg LLC grew its stake in Alphabet by 0.6% during the second quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock worth $1,838,000 after buying an additional 59 shares during the last quarter. Finally, Financial Council LLC grew its stake in Alphabet by 1.0% during the second quarter. Financial Council LLC now owns 5,800 shares of the information services provider’s stock worth $1,022,000 after buying an additional 60 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the transaction, the chief accounting officer directly owned 17,293 shares in the company, valued at $4,236,785. This represents a 13.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the completion of the transaction, the chief executive officer owned 2,397,392 shares in the company, valued at $598,149,304. This represents a 1.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 246,150 shares of company stock worth $55,805,379 over the last ninety days. Company insiders own 11.64% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several research analyst reports. Phillip Securities cut shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, September 8th. Wells Fargo & Company upped their price objective on shares of Alphabet from $236.00 to $268.00 and gave the stock an “equal weight” rating in a research note on Thursday. Canaccord Genuity Group upped their price objective on shares of Alphabet from $270.00 to $330.00 and gave the stock a “buy” rating in a research note on Thursday. BMO Capital Markets set a $294.00 price objective on shares of Alphabet and gave the stock an “outperform” rating in a research note on Thursday, October 9th. Finally, BNP Paribas Exane upped their price objective on shares of Alphabet from $187.00 to $247.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 21st. Three 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $302.20.

Alphabet Price Performance

GOOGL opened at $281.31 on Friday. Alphabet Inc. has a one year low of $140.53 and a one year high of $291.59. 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 company’s 50 day simple moving average is $244.00 and its 200-day simple moving average is $199.98. The stock has a market capitalization of $3.40 trillion, a P/E ratio of 27.74, a price-to-earnings-growth ratio of 1.86 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 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 business had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. Sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

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.