Fisher Asset Management LLC Raises Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Fisher Asset Management LLC raised its position in Alphabet Inc. (NASDAQ:GOOGL) by 1.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,725,279 shares of the information services provider’s stock after purchasing an additional 579,305 shares during the quarter. Alphabet accounts for about 2.8% of Fisher Asset Management LLC’s holdings, making the stock its 4th biggest holding. Fisher Asset Management LLC’s holdings in Alphabet were worth $5,114,215,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Bornite Capital Management LP acquired a new stake in Alphabet in the first quarter valued at $16,688,000. Markel Corp grew its position in shares of Alphabet by 17.0% in the 1st quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock valued at $43,110,000 after buying an additional 2,250 shares during the last quarter. United Bank increased its stake in shares of Alphabet by 5.9% in the first quarter. United Bank now owns 2,033 shares of the information services provider’s stock valued at $5,654,000 after buying an additional 113 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Alphabet by 23.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock worth $900,929,000 after acquiring an additional 61,427 shares during the last quarter. Finally, Dakota Wealth Management lifted its stake in shares of Alphabet by 20.4% in the first quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock worth $25,806,000 after acquiring an additional 1,570 shares during the period. 35.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GOOGL has been the subject of several analyst reports. Rosenblatt Securities raised their price target on shares of Alphabet from $163.00 to $174.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. Susquehanna restated a “positive” rating and issued a $150.00 target price on shares of Alphabet in a report on Thursday, August 31st. Truist Financial increased their price target on Alphabet from $122.00 to $160.00 in a report on Wednesday, July 26th. Morgan Stanley dropped their price objective on Alphabet from $155.00 to $150.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 25th. Finally, Roth Mkm raised their target price on Alphabet from $146.00 to $152.00 and gave the stock a “buy” rating in a research note on Wednesday, October 25th. Five 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, the stock presently has an average rating of “Moderate Buy” and an average target price of $147.00.

Alphabet Stock Down 1.2 %

GOOGL stock opened at $135.31 on Monday. The stock has a market cap of $1.69 trillion, a P/E ratio of 25.97, a P/E/G ratio of 1.51 and a beta of 1.05. The company has a current ratio of 2.04, a quick ratio of 2.01 and a debt-to-equity ratio of 0.05. The stock’s fifty day simple moving average is $133.44 and its two-hundred day simple moving average is $127.65. Alphabet Inc. has a 1-year low of $84.86 and a 1-year high of $141.22.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, October 24th. The information services provider reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.10. Alphabet had a net margin of 22.46% and a return on equity of 25.24%. The company had revenue of $64.05 billion for the quarter, compared to the consensus estimate of $63.13 billion. Analysts expect that Alphabet Inc. will post 5.74 EPS for the current year.

Insider Activity

In related news, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $139.93, for a total value of $27,986.00. Following the transaction, the director now owns 7,384 shares in the company, valued at $1,033,243.12. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Alphabet news, Director Kavitark Ram Shriram sold 75,000 shares of the stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $131.09, for a total transaction of $9,831,750.00. Following the completion of the transaction, the director now owns 104,364 shares in the company, valued at $13,681,076.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $139.93, for a total transaction of $27,986.00. Following the completion of the transaction, the director now directly owns 7,384 shares of the company’s stock, valued at $1,033,243.12. The disclosure for this sale can be found here. Insiders sold 176,576 shares of company stock valued at $23,425,367 in the last three months. Company insiders own 0.88% of the company’s stock.

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.