Alphabet Inc. (NASDAQ:GOOGL) is Prio Wealth Limited Partnership’s 10th Largest Position

Prio Wealth Limited Partnership decreased its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 469,680 shares of the information services provider’s stock after selling 4,179 shares during the quarter. Alphabet makes up 2.3% of Prio Wealth Limited Partnership’s portfolio, making the stock its 10th biggest holding. Prio Wealth Limited Partnership’s holdings in Alphabet were worth $77,896,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in GOOGL. SG Americas Securities LLC increased its stake in shares of Alphabet by 587.4% in the third quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock worth $1,772,991,000 after purchasing an additional 9,135,056 shares in the last quarter. Capital Research Global Investors increased its position in Alphabet by 14.4% in the first quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock worth $8,724,251,000 after purchasing an additional 7,275,757 shares during the last quarter. Wulff Hansen & CO. grew its position in Alphabet by 18,810.2% in the second quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock worth $807,700,000 after acquiring an additional 4,410,811 shares in the last quarter. PineStone Asset Management Inc. raised its holdings in Alphabet by 143.7% during the 2nd 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 buying an additional 4,170,229 shares during the period. Finally, Vanguard Group Inc. lifted its holdings 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 worth $75,144,172,000 after acquiring an additional 4,064,073 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction 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 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, October 16th. The shares were 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet 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 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 position. 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 three months. Company insiders own 11.55% of the company’s stock.

Alphabet Trading Up 2.8 %

Shares of GOOGL opened at $174.46 on Thursday. The firm has a market capitalization of $2.16 trillion, a P/E ratio of 26.76, a P/E/G ratio of 1.27 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 firm has a 50-day moving average price of $162.17 and a 200 day moving average price of $168.78. Alphabet Inc. has a 12-month low of $122.68 and a 12-month high of $191.75.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. During the same period last year, the business earned $1.55 earnings per share. Sell-side analysts forecast that Alphabet Inc. will post 7.65 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Cantor Fitzgerald reiterated a “neutral” rating and set a $190.00 target price on shares of Alphabet in a research report on Wednesday. Piper Sandler reissued an “overweight” rating and set a $210.00 price target (up from $200.00) on shares of Alphabet in a research report on Wednesday. Rosenblatt Securities reiterated a “neutral” rating and issued a $181.00 price target on shares of Alphabet in a research note on Wednesday, July 24th. DA Davidson started coverage on Alphabet in a research note on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 target price for the company. Finally, Tigress Financial raised their target price on shares of Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a report on Thursday, September 26th. Seven investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $205.51.

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.