Alphabet Inc. (NASDAQ:GOOGL) Stock Position Lifted by American Money Management LLC

American Money Management LLC lifted its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,754 shares of the information services provider’s stock after acquiring an additional 160 shares during the quarter. Alphabet accounts for approximately 1.4% of American Money Management LLC’s holdings, making the stock its 21st largest position. American Money Management LLC’s holdings in Alphabet were worth $5,716,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Modera Wealth Management LLC raised its holdings in shares of Alphabet by 11.4% during the first quarter. Modera Wealth Management LLC now owns 43,230 shares of the information services provider’s stock worth $4,484,000 after purchasing an additional 4,420 shares during the period. Atria Investments Inc grew its position in shares of Alphabet by 7.4% during the 1st quarter. Atria Investments Inc now owns 316,800 shares of the information services provider’s stock valued at $32,918,000 after buying an additional 21,907 shares during the last quarter. Cadent Capital Advisors LLC raised its stake in Alphabet by 3.4% during the second quarter. Cadent Capital Advisors LLC now owns 4,158 shares of the information services provider’s stock worth $498,000 after acquiring an additional 136 shares during the period. Hallmark Capital Management Inc. lifted its holdings in Alphabet by 8.9% in the first quarter. Hallmark Capital Management Inc. now owns 167,148 shares of the information services provider’s stock worth $17,338,000 after acquiring an additional 13,605 shares during the last quarter. Finally, Soltis Investment Advisors LLC boosted its stake in Alphabet by 17.1% in the first quarter. Soltis Investment Advisors LLC now owns 46,675 shares of the information services provider’s stock valued at $4,842,000 after acquiring an additional 6,825 shares during the period. 35.08% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 3,749 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $136.28, for a total transaction of $510,913.72. Following the transaction, the chief accounting officer now owns 25,568 shares of the company’s stock, valued at $3,484,407.04. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 3,749 shares of the stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $136.28, for a total transaction of $510,913.72. Following the transaction, the chief accounting officer now directly owns 25,568 shares of the company’s stock, valued at $3,484,407.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ann Mather sold 220 shares of the business’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $130.14, for a total value of $28,630.80. Following the completion of the sale, the director now directly owns 4,818 shares of the company’s stock, valued at approximately $627,014.52. The disclosure for this sale can be found here. Insiders sold a total of 176,576 shares of company stock worth $23,425,367 in the last three months. 0.88% of the stock is owned by insiders.

Alphabet Trading Down 1.2 %

Shares of NASDAQ:GOOGL opened at $135.31 on Monday. The firm has a fifty day moving average of $133.44 and a two-hundred day moving average of $127.65. The company has a quick ratio of 2.01, a current ratio of 2.04 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12-month low of $84.86 and a 12-month high of $141.22. The firm has a market capitalization of $1.69 trillion, a P/E ratio of 25.97, a price-to-earnings-growth ratio of 1.51 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, October 24th. The information services provider reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.10. Alphabet had a return on equity of 25.24% and a net margin of 22.46%. The firm had revenue of $64.05 billion during the quarter, compared to analysts’ expectations of $63.13 billion. On average, equities analysts expect that Alphabet Inc. will post 5.74 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GOOGL. Susquehanna reissued a “positive” rating and issued a $150.00 price target on shares of Alphabet in a report on Thursday, August 31st. Citigroup lifted their price objective on shares of Alphabet from $130.00 to $153.00 in a research report on Wednesday, July 26th. Mizuho upped their target price on shares of Alphabet from $135.00 to $155.00 in a research report on Wednesday, July 26th. Rosenblatt Securities lifted their price target on Alphabet from $163.00 to $174.00 and gave the company a “buy” rating in a report on Wednesday, October 25th. Finally, Sanford C. Bernstein increased their price objective on Alphabet from $130.00 to $135.00 in a report on Wednesday, July 26th. Five equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $147.00.

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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.