Moloney Securities Asset Management LLC Grows Stock Position in Alphabet Inc. $GOOGL

Moloney Securities Asset Management LLC raised its position in Alphabet Inc. (NASDAQ:GOOGL) by 2.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,867 shares of the information services provider’s stock after buying an additional 1,649 shares during the period. Alphabet makes up about 1.3% of Moloney Securities Asset Management LLC’s holdings, making the stock its 12th biggest holding. Moloney Securities Asset Management LLC’s holdings in Alphabet were worth $10,374,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Jackson Hole Capital Partners LLC raised its stake in Alphabet by 1.6% during the second quarter. Jackson Hole Capital Partners LLC now owns 11,397 shares of the information services provider’s stock valued at $2,008,000 after buying an additional 181 shares in the last quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych increased its holdings in shares of Alphabet by 6.8% during the second quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 45,300 shares of the information services provider’s stock valued at $7,983,000 after purchasing an additional 2,900 shares during the period. LJI Wealth Management LLC raised its stake in shares of Alphabet by 1.2% in the 2nd quarter. LJI Wealth Management LLC now owns 7,201 shares of the information services provider’s stock worth $1,269,000 after buying an additional 85 shares in the last quarter. Asset Management One Co. Ltd. lifted its holdings in Alphabet by 1.6% in the 2nd quarter. Asset Management One Co. Ltd. now owns 2,670,666 shares of the information services provider’s stock valued at $470,651,000 after acquiring an additional 43,077 shares during the last quarter. Finally, Value Star Asset Management Hong Kong Ltd acquired a new stake in shares of Alphabet during the second quarter worth $2,661,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on GOOGL shares. Citizens Jmp raised their price objective on shares of Alphabet from $250.00 to $290.00 and gave the stock an “outperform” rating in a research note on Friday, September 19th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Alphabet in a research report on Thursday, October 30th. Moffett Nathanson upped their price target on Alphabet from $295.00 to $305.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Tigress Financial increased their price objective on Alphabet from $240.00 to $280.00 and gave the stock a “strong-buy” rating in a research note on Friday, September 5th. Finally, Guggenheim raised their price objective on Alphabet from $280.00 to $330.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Three research analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $303.09.

Alphabet Stock Performance

Shares of GOOGL opened at $277.54 on Wednesday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $291.59. The company’s fifty day moving average is $246.91 and its 200-day moving average is $202.13. The firm has a market cap of $3.36 trillion, a price-to-earnings ratio of 27.37, a price-to-earnings-growth ratio of 1.86 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last posted 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 net margin of 32.23% and a return on equity of 36.08%. The firm had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. Equities analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the transaction, the chief executive officer owned 2,369,619 shares in the company, valued at $592,760,192.85. This trade represents a 1.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John Kent Walker sold 17,816 shares of the business’s stock in a transaction on Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the sale, the insider owned 42,985 shares of the company’s stock, valued at $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 190,896 shares of company stock worth $45,092,175. 11.64% of the stock is currently owned by company insiders.

About Alphabet

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.