Morton Capital Management LLC CA Has $1.94 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Morton Capital Management LLC CA increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 13.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,665 shares of the information services provider’s stock after acquiring an additional 1,380 shares during the period. Alphabet comprises 0.4% of Morton Capital Management LLC CA’s holdings, making the stock its 22nd largest holding. Morton Capital Management LLC CA’s holdings in Alphabet were worth $1,935,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in GOOGL. Heritage Wealth Partners LLC lifted its holdings in shares of Alphabet by 4.6% during the third quarter. Heritage Wealth Partners LLC now owns 10,294 shares of the information services provider’s stock worth $1,707,000 after purchasing an additional 454 shares during the period. Clarus Wealth Advisors lifted its holdings in shares of Alphabet by 8.2% during the third quarter. Clarus Wealth Advisors now owns 4,236 shares of the information services provider’s stock worth $690,000 after purchasing an additional 320 shares during the period. TL Private Wealth lifted its holdings in shares of Alphabet by 39.8% during the third quarter. TL Private Wealth now owns 1,803 shares of the information services provider’s stock worth $294,000 after purchasing an additional 513 shares during the period. Somerset Trust Co lifted its holdings in shares of Alphabet by 5.8% during the third quarter. Somerset Trust Co now owns 5,922 shares of the information services provider’s stock worth $982,000 after purchasing an additional 325 shares during the period. Finally, Wedmont Private Capital lifted its holdings in shares of Alphabet by 12.0% during the third quarter. Wedmont Private Capital now owns 78,390 shares of the information services provider’s stock worth $12,776,000 after purchasing an additional 8,369 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total value of $230,804.28. Following the sale, the chief accounting officer now owns 29,183 shares of the company’s stock, valued at $4,927,257.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total value of $230,804.28. Following the sale, the chief accounting officer now owns 29,183 shares of the company’s stock, valued at $4,927,257.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the completion of the sale, the chief executive officer now directly owns 2,182,385 shares in the company, valued at approximately $354,310,204.75. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 220,426 shares of company stock valued at $35,993,340. Insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GOOGL. TD Securities lifted their price target on shares of Alphabet from $200.00 to $220.00 in a report on Wednesday, July 10th. Morgan Stanley cut their price target on shares of Alphabet from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. The Goldman Sachs Group lowered their target price on shares of Alphabet from $217.00 to $208.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Wolfe Research started coverage on shares of Alphabet in a research note on Tuesday, July 16th. They set an “outperform” rating and a $240.00 target price for the company. Finally, Truist Financial lifted their target price on shares of Alphabet from $196.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday. Eight research 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 MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $201.76.

Alphabet Stock Performance

Alphabet stock opened at $163.42 on Friday. The firm’s fifty day moving average price is $161.77 and its 200-day moving average price is $168.06. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The stock has a market cap of $2.02 trillion, a P/E ratio of 25.06, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a fifty-two week low of $120.21 and a fifty-two week high of $191.75.

Alphabet (NASDAQ:GOOGL) last posted 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 firm had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter last year, the company posted $1.44 EPS. On average, equities research analysts expect that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet 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, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.