Cookson Peirce & Co. Inc. Sells 407,022 Shares of Alphabet Inc. $GOOGL

Cookson Peirce & Co. Inc. cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 99.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,118 shares of the information services provider’s stock after selling 407,022 shares during the period. Cookson Peirce & Co. Inc.’s holdings in Alphabet were worth $726,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Nuveen LLC purchased a new stake in shares of Alphabet during the 1st quarter valued at $4,317,606,000. Vanguard Group Inc. increased its position in shares of 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 during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Alphabet by 11.4% during the 1st 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 valued at $6,783,364,000 after purchasing an additional 4,473,901 shares during the last quarter. Amundi increased its position in shares of Alphabet by 11.8% during the 1st quarter. Amundi now owns 33,403,871 shares of the information services provider’s stock valued at $5,034,992,000 after purchasing an additional 3,537,173 shares during the last quarter. Finally, Evergreen Quality Fund GP Ltd. increased its position in shares of Alphabet by 178.3% during the 1st quarter. Evergreen Quality Fund GP Ltd. now owns 4,003,900 shares of the information services provider’s stock valued at $619,163,000 after purchasing an additional 2,565,400 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, September 17th. The stock was 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 owned 2,397,392 shares in the company, valued at $598,149,304. This trade represents a 1.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the transaction, the chief accounting officer owned 17,293 shares of the company’s stock, valued at approximately $4,236,785. This represents a 13.84% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 246,150 shares of company stock worth $55,805,379 in the last quarter. 11.64% of the stock is owned by company insiders.

Alphabet Stock Down 0.1%

Shares of NASDAQ GOOGL opened at $281.31 on Friday. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $291.59. The business has a 50-day simple moving average of $244.00 and a two-hundred day simple moving average of $199.98. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a market cap of $3.40 trillion, a P/E ratio of 27.74, a P/E/G ratio of 1.86 and a beta of 1.00.

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GOOGL. Wolfe Research reaffirmed an “outperform” rating and set a $350.00 target price (up from $290.00) on shares of Alphabet in a research report on Thursday. Mizuho set a $325.00 target price on Alphabet in a research report on Thursday. Loop Capital raised their target price on Alphabet from $190.00 to $260.00 and gave the company a “hold” rating in a research report on Friday, October 24th. JPMorgan Chase & Co. raised their target price on Alphabet from $300.00 to $340.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, DA Davidson raised their target price on Alphabet from $190.00 to $300.00 and gave the company a “neutral” rating in a research report on Thursday. Three research analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $302.20.

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.