Forum Financial Management LP Boosts Stock Holdings in Alphabet Inc. $GOOGL

Forum Financial Management LP increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 11.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 151,951 shares of the information services provider’s stock after purchasing an additional 15,999 shares during the period. Alphabet makes up approximately 0.4% of Forum Financial Management LP’s portfolio, making the stock its 20th largest position. Forum Financial Management LP’s holdings in Alphabet were worth $26,778,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted 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 worth $78,839,544,000 after purchasing an additional 14,307,345 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted 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 worth $6,783,364,000 after purchasing an additional 4,473,901 shares in the last quarter. Invesco Ltd. boosted its position in shares of Alphabet by 1.4% during the 1st quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider’s stock worth $6,749,806,000 after purchasing an additional 593,345 shares in the last quarter. Deutsche Bank AG boosted its position in shares of Alphabet by 1.9% during the 1st quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider’s stock worth $6,153,481,000 after purchasing an additional 727,335 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Alphabet by 0.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider’s stock worth $5,962,389,000 after purchasing an additional 104,859 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GOOGL. Wells Fargo & Company boosted their target price on shares of Alphabet from $236.00 to $268.00 and gave the stock an “equal weight” rating in a research report on Thursday. Sanford C. Bernstein upped their price target on Alphabet from $260.00 to $305.00 and gave the stock a “market perform” rating in a report on Thursday. Evercore ISI upped their price target on Alphabet from $300.00 to $325.00 and gave the stock an “outperform” rating in a report on Thursday. Royal Bank Of Canada restated a “buy” rating on shares of Alphabet in a report on Thursday. Finally, Cantor Fitzgerald lifted their price target on Alphabet from $265.00 to $310.00 and gave the stock a “neutral” rating in a research note on Thursday. Three analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $302.20.

Insider Activity at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,000 shares of Alphabet stock in a transaction on Friday, August 8th. The shares were sold at an average price of $200.00, for a total value of $200,000.00. Following the transaction, the director owned 6,916 shares in the company, valued at $1,383,200. This trade represents a 12.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the completion of the transaction, the chief executive officer owned 2,429,892 shares in the company, valued at approximately $558,219,089.16. This trade represents a 1.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 222,330 shares of company stock worth $51,167,625. 11.64% of the stock is owned by insiders.

Alphabet Trading Down 0.1%

Shares of GOOGL stock opened at $281.31 on Monday. The firm has a 50-day moving average price of $244.00 and a 200 day moving average price of $200.31. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $291.59. The company has a market capitalization of $3.40 trillion, a price-to-earnings 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 (NASDAQ:GOOGL) last posted its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The company had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

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.