Magnus Financial Group LLC Has $5.38 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Magnus Financial Group LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 32,443 shares of the information services provider’s stock after buying an additional 687 shares during the period. Magnus Financial Group LLC’s holdings in Alphabet were worth $5,381,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of GOOGL. Vanguard Group Inc. lifted its stake in Alphabet by 0.8% in the first quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock valued at $75,144,172,000 after acquiring an additional 4,064,073 shares during the last quarter. Capital Research Global Investors raised its stake in Alphabet by 14.4% in the first quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock valued at $8,724,251,000 after buying an additional 7,275,757 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Alphabet by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock valued at $9,011,412,000 after buying an additional 238,403 shares during the last quarter. Capital World Investors boosted its stake in shares of Alphabet by 1.7% during the 1st quarter. Capital World Investors now owns 35,412,299 shares of the information services provider’s stock worth $5,344,778,000 after acquiring an additional 597,756 shares during the period. Finally, American Century Companies Inc. increased its holdings in shares of Alphabet by 1.8% during the 2nd quarter. American Century Companies Inc. now owns 23,465,190 shares of the information services provider’s stock worth $4,274,184,000 after acquiring an additional 418,204 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on GOOGL shares. Loop Capital restated a “hold” rating and set a $170.00 target price on shares of Alphabet in a research note on Wednesday, July 3rd. Evercore ISI cut their price objective on shares of Alphabet from $225.00 to $200.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. BMO Capital Markets decreased their target price on Alphabet from $222.00 to $215.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 9th. Needham & Company LLC reissued a “buy” rating and set a $210.00 price target on shares of Alphabet in a report on Tuesday, October 15th. Finally, Royal Bank of Canada upped their price objective on Alphabet from $200.00 to $204.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Eight equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $201.76.

Alphabet Stock Down 1.4 %

Shares of NASDAQ:GOOGL opened at $162.78 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. Alphabet Inc. has a 52-week low of $120.21 and a 52-week high of $191.75. The company has a market capitalization of $2.01 trillion, a PE ratio of 24.97, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The company has a fifty day moving average of $161.87 and a 200-day moving average of $168.40.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. During the same quarter in the prior year, the firm earned $1.44 EPS. On average, equities analysts predict that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the sale, the chief executive officer now directly owns 2,182,385 shares in the company, valued at $354,310,204.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total value of $3,652,875.00. Following the completion of the transaction, the chief executive officer now directly owns 2,182,385 shares in the company, valued at approximately $354,310,204.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the transaction, the chief accounting officer now owns 31,334 shares in the company, valued at approximately $5,264,112. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 220,426 shares of company stock worth $35,993,340. Insiders own 11.55% of the company’s stock.

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.