Douglas Lane & Associates LLC Sells 6,548 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Douglas Lane & Associates LLC decreased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 2.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 240,533 shares of the information services provider’s stock after selling 6,548 shares during the period. Douglas Lane & Associates LLC’s holdings in Alphabet were worth $39,892,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GOOGL. SG Americas Securities LLC raised its stake in shares of Alphabet by 587.4% during the third quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock valued at $1,772,991,000 after acquiring an additional 9,135,056 shares during the last quarter. Capital Research Global Investors raised its stake in shares of Alphabet by 14.4% during 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 acquiring an additional 7,275,757 shares during the last quarter. Wulff Hansen & CO. raised its stake in shares of Alphabet by 18,810.2% during the second quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock valued at $807,700,000 after acquiring an additional 4,410,811 shares during the last quarter. PineStone Asset Management Inc. raised its stake in shares of Alphabet by 143.7% during the second quarter. PineStone Asset Management Inc. now owns 7,072,197 shares of the information services provider’s stock valued at $1,288,201,000 after acquiring an additional 4,170,229 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Alphabet by 0.8% during 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. Institutional investors own 40.03% of the company’s stock.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total value of $230,804.28. Following the completion of the transaction, the chief accounting officer now directly owns 29,183 shares of the company’s stock, valued at $4,927,257.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider John Kent Walker sold 21,467 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total value of $3,442,233.45. Following the completion of the transaction, the insider now directly owns 39,334 shares of the company’s stock, valued at $6,307,206.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now directly owns 29,183 shares of the company’s stock, valued at approximately $4,927,257.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 220,426 shares of company stock valued at $35,993,340 over the last three months. Corporate insiders own 11.55% of the company’s stock.

Analysts Set New Price Targets

GOOGL has been the subject of several analyst reports. Evercore ISI dropped their price target on shares of Alphabet from $225.00 to $200.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Wolfe Research initiated coverage on shares of Alphabet in a research note on Tuesday, July 16th. They set an “outperform” rating and a $240.00 price target for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $210.00 price target on shares of Alphabet in a research note on Tuesday, October 15th. Wells Fargo & Company decreased their price objective on shares of Alphabet from $190.00 to $182.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 2nd. Finally, Truist Financial increased their price objective on shares of Alphabet from $196.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Eight research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $201.76.

Alphabet Stock Performance

Shares of Alphabet stock opened at $164.07 on Tuesday. The company has a market cap of $2.03 trillion, a PE ratio of 25.16, a price-to-earnings-growth 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 business has a 50 day moving average price of $161.80 and a 200-day moving average price of $168.35. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.85 by $0.04. The firm had revenue of $84.74 billion during the quarter, compared to the consensus estimate 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 business posted $1.44 earnings per share. Equities analysts anticipate that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

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