Alphabet Inc. (NASDAQ:GOOGL) Shares Purchased by Cardinal Capital Management

Cardinal Capital Management raised its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 66,864 shares of the information services provider’s stock after purchasing an additional 489 shares during the quarter. Alphabet accounts for about 1.7% of Cardinal Capital Management’s holdings, making the stock its 12th biggest position. Cardinal Capital Management’s holdings in Alphabet were worth $11,089,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Christopher J. Hasenberg Inc lifted its stake in shares of Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares during the period. Tributary Capital Management LLC purchased a new position in Alphabet in the first quarter valued at about $30,000. Kings Path Partners LLC purchased a new position in Alphabet in the second quarter valued at about $36,000. Denver PWM LLC acquired a new stake in shares of Alphabet during the 2nd quarter valued at approximately $41,000. Finally, CarsonAllaria Wealth Management Ltd. boosted its stake in shares of Alphabet by 59.2% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after acquiring an additional 109 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Argus raised their price objective on Alphabet from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. DA Davidson assumed coverage on Alphabet in a research report on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price target for the company. Pivotal Research upgraded shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, October 1st. Scotiabank upgraded shares of Alphabet to a “strong-buy” rating in a report on Friday, October 11th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $190.00 target price on shares of Alphabet in a research report on Monday, October 7th. Seven investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $201.76.

Alphabet Stock Performance

Alphabet stock opened at $165.27 on Friday. The company has a market cap of $2.03 trillion, a price-to-earnings ratio of 23.71, a price-to-earnings-growth ratio of 1.27 and a beta of 1.04. Alphabet Inc. has a 12 month low of $120.21 and a 12 month high of $191.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The stock’s 50-day moving average is $161.95 and its 200-day moving average is $168.51.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the transaction, the chief executive officer now directly owns 2,106,806 shares of the company’s stock, valued at $350,361,837.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 2,834 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $167.23, for a total value of $473,929.82. Following the transaction, the chief accounting officer now directly owns 26,349 shares of the company’s stock, valued at $4,406,343.27. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total value of $3,741,750.00. Following the completion of the sale, the chief executive officer now directly owns 2,106,806 shares of the company’s stock, valued at $350,361,837.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 220,426 shares of company stock valued at $35,993,340. 11.55% of the stock is currently owned by corporate insiders.

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.