Patriot Investment Management Group Inc. Has $464,000 Position in Alphabet Inc. (NASDAQ:GOOGL)

Patriot Investment Management Group Inc. raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,797 shares of the information services provider’s stock after buying an additional 103 shares during the period. Patriot Investment Management Group Inc.’s holdings in Alphabet were worth $464,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Alphabet by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock valued at $75,144,172,000 after purchasing an additional 4,064,073 shares during the last quarter. Capital Research Global Investors lifted its stake in shares of Alphabet by 14.4% in the 1st 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 purchasing an additional 7,275,757 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Alphabet by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock valued at $9,011,412,000 after purchasing an additional 238,403 shares during the last quarter. Capital World Investors raised its holdings in Alphabet by 1.7% in the 1st quarter. Capital World Investors now owns 35,412,299 shares of the information services provider’s stock worth $5,344,778,000 after acquiring an additional 597,756 shares during the period. Finally, American Century Companies Inc. raised its holdings in Alphabet by 1.8% in the 2nd quarter. American Century Companies Inc. now owns 23,465,190 shares of the information services provider’s stock worth $4,274,184,000 after acquiring an additional 418,204 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $5,264,112. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, 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 of the company’s stock, valued at $5,264,112. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the sale, the chief executive officer now directly owns 2,182,385 shares in the company, valued at $354,310,204.75. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 220,426 shares of company stock valued at $35,993,340. 11.55% of the stock is currently owned by insiders.

Alphabet Price Performance

Shares of Alphabet stock opened at $164.07 on Tuesday. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $2.03 trillion, a price-to-earnings ratio of 25.16, a P/E/G ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a 1-year low of $120.21 and a 1-year high of $191.75. The firm’s 50-day moving average price is $161.80 and its two-hundred day moving average price is $168.35.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping 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 period in the prior year, the firm earned $1.44 earnings per share. On average, equities analysts predict that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on GOOGL. BMO Capital Markets dropped their target price on shares of Alphabet from $222.00 to $215.00 and set an “outperform” rating on the stock in a report on Wednesday, October 9th. TD Securities lifted their target price on shares of Alphabet from $200.00 to $220.00 in a report on Wednesday, July 10th. UBS Group lifted their target price on shares of Alphabet from $200.00 to $204.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Royal Bank of Canada lifted their target price on shares of Alphabet from $200.00 to $204.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Finally, Mizuho lifted their target price on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Eight investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $201.76.

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.