Shikiar Asset Management Inc. Buys New Shares in Alphabet Inc. (NASDAQ:GOOGL)

Shikiar Asset Management Inc. bought a new stake in Alphabet Inc. (NASDAQ:GOOGL) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,070 shares of the information services provider’s stock, valued at approximately $343,000.

Other hedge funds have also added to or reduced their stakes in the company. New Hampshire Trust lifted its holdings in Alphabet by 2.7% during the 2nd quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock valued at $7,963,000 after purchasing an additional 1,132 shares during the last quarter. Berkshire Money Management Inc. acquired a new stake in Alphabet during the 1st quarter valued at $359,000. Schneider Downs Wealth Management Advisors LP lifted its holdings in Alphabet by 58.4% during the 1st quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider’s stock valued at $962,000 after purchasing an additional 2,351 shares during the last quarter. Trinity Financial Advisors LLC lifted its holdings in shares of Alphabet by 4.5% during the third quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock worth $771,000 after buying an additional 190 shares in the last quarter. Finally, StoneCrest Wealth Management Inc. lifted its holdings in shares of Alphabet by 0.7% during the third quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock worth $3,567,000 after buying an additional 140 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director John L. Hennessy sold 800 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $153.75, for a total value of $123,000.00. Following the sale, the director now directly owns 28,524 shares in the company, valued at $4,385,565. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the transaction, the chief accounting officer now directly owns 31,334 shares in the company, valued at approximately $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 have sold 220,426 shares of company stock worth $35,993,340 over the last ninety days. Insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $164.07 on Tuesday. The stock has a market cap of $2.03 trillion, a P/E ratio of 25.16, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. 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’s 50-day moving average is $161.80 and its 200-day moving average is $168.35. Alphabet Inc. has a 1-year low of $120.21 and a 1-year high of $191.75.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results 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 company had revenue of $84.74 billion for the quarter, compared to analysts’ expectations 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 previous year, the business posted $1.44 earnings per share. Equities research analysts anticipate that Alphabet Inc. will post 7.64 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on GOOGL. Needham & Company LLC reissued a “buy” rating and set a $210.00 target price on shares of Alphabet in a report on Tuesday, October 15th. JMP Securities reissued a “market outperform” rating and set a $200.00 target price on shares of Alphabet in a report on Wednesday, September 25th. UBS Group lifted their target price on Alphabet from $200.00 to $204.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Rosenblatt Securities reissued a “neutral” rating and set a $181.00 target price on shares of Alphabet in a report on Wednesday, July 24th. Finally, Guggenheim lifted their target price on Alphabet from $195.00 to $205.00 and gave the stock a “buy” 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet has a consensus 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.