Alphabet Inc. (NASDAQ:GOOGL) Holdings Boosted by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 107,968 shares of the information services provider’s stock after purchasing an additional 3,144 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Alphabet were worth $17,907,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Eagle Rock Investment Company LLC increased its holdings in shares of Alphabet by 5.7% in the 3rd quarter. Eagle Rock Investment Company LLC now owns 126,008 shares of the information services provider’s stock worth $20,898,000 after acquiring an additional 6,815 shares during the period. Consilio Wealth Advisors LLC increased its stake in shares of Alphabet by 11.7% in the third quarter. Consilio Wealth Advisors LLC now owns 8,653 shares of the information services provider’s stock valued at $1,435,000 after purchasing an additional 907 shares during the period. Smith Anglin Financial LLC raised its holdings in shares of Alphabet by 8.8% during the third quarter. Smith Anglin Financial LLC now owns 6,857 shares of the information services provider’s stock valued at $1,137,000 after buying an additional 557 shares during the last quarter. Diversified Trust Co boosted its position in shares of Alphabet by 16.2% during the third quarter. Diversified Trust Co now owns 281,185 shares of the information services provider’s stock worth $46,635,000 after buying an additional 39,253 shares during the period. Finally, Azzad Asset Management Inc. ADV grew its holdings in Alphabet by 4.7% in the 3rd quarter. Azzad Asset Management Inc. ADV now owns 110,748 shares of the information services provider’s stock worth $18,368,000 after buying an additional 4,923 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Trading Up 0.3 %

Shares of GOOGL stock opened at $165.46 on Wednesday. The firm has a fifty day moving average of $161.63 and a 200-day moving average of $168.07. The stock has a market cap of $2.04 trillion, a price-to-earnings ratio of 25.38, a P/E/G ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a 52-week low of $120.21 and a 52-week high of $191.75. 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 (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.04. The company had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same period in the prior year, the company posted $1.44 EPS. On average, equities research analysts forecast that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 31,334 shares in the company, valued at $5,264,112. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $354,310,204.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the sale, the chief accounting officer now directly owns 31,334 shares in the company, valued at $5,264,112. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 197,926 shares of company stock valued at $32,251,590 in the last ninety days. Insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Wolfe Research initiated coverage on shares of Alphabet in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 target price for the company. Wells Fargo & Company cut their target price on Alphabet from $190.00 to $182.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 2nd. Needham & Company LLC reiterated a “buy” rating and set a $210.00 price target on shares of Alphabet in a research report on Tuesday. Roth Mkm reissued a “buy” rating and issued a $206.00 price objective on shares of Alphabet in a research note on Thursday, August 29th. Finally, Evercore ISI lowered their target price on Alphabet from $225.00 to $200.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Eight analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $201.13.

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.