Blue Trust Inc. Boosts Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Blue Trust Inc. boosted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 91.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 61,900 shares of the information services provider’s stock after acquiring an additional 29,604 shares during the period. Blue Trust Inc.’s holdings in Alphabet were worth $11,275,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. MorganRosel Wealth Management LLC increased its position in Alphabet by 3.6% during the second quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock worth $295,000 after buying an additional 57 shares in the last quarter. Hengehold Capital Management LLC increased its position in Alphabet by 0.8% during the second quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock worth $1,316,000 after purchasing an additional 60 shares during the last quarter. Christopher J. Hasenberg Inc raised its position in shares of Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after buying an additional 60 shares during the period. First PREMIER Bank raised its holdings in Alphabet by 3.8% in the third quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock valued at $275,000 after buying an additional 61 shares during the period. Finally, MKT Advisors LLC boosted its position in Alphabet by 0.8% during the 3rd quarter. MKT Advisors LLC now owns 7,363 shares of the information services provider’s stock worth $1,221,000 after purchasing an additional 62 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Up 0.9 %

Alphabet stock opened at $166.72 on Tuesday. The company has a market capitalization of $2.06 trillion, a P/E ratio of 25.57, a P/E/G ratio of 1.27 and a beta of 1.04. The firm’s fifty day simple moving average is $161.95 and its 200-day simple moving average is $168.65. Alphabet Inc. has a 1-year low of $122.68 and a 1-year high of $191.75. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the transaction, the chief accounting officer now directly owns 31,334 shares in the company, valued at approximately $5,264,112. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Friday, August 2nd. The stock was 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 trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the transaction, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 220,426 shares of company stock valued at $35,993,340. Corporate insiders own 11.55% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on GOOGL. Roth Mkm restated a “buy” rating and issued a $206.00 target price on shares of Alphabet in a research note on Thursday, August 29th. Rosenblatt Securities reiterated a “neutral” rating and set a $181.00 price target on shares of Alphabet in a research report on Wednesday, July 24th. Morgan Stanley cut their price target on Alphabet from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. TD Securities raised their target price on shares of Alphabet from $200.00 to $220.00 in a research note on Wednesday, July 10th. Finally, DA Davidson started coverage on Alphabet in a research note on Tuesday, September 10th. They set a “neutral” rating and a $170.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $201.76.

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.