Alphabet Inc. (NASDAQ:GOOGL) Position Raised by Brown Lisle Cummings Inc.

Brown Lisle Cummings Inc. lifted its position in Alphabet Inc. (NASDAQ:GOOGL) by 2.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 48,480 shares of the information services provider’s stock after buying an additional 965 shares during the period. Alphabet makes up about 2.4% of Brown Lisle Cummings Inc.’s investment portfolio, making the stock its 6th biggest position. Brown Lisle Cummings Inc.’s holdings in Alphabet were worth $8,040,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GOOGL. Burns J W & Co. Inc. NY lifted its holdings in Alphabet by 7.4% during the first quarter. Burns J W & Co. Inc. NY now owns 24,861 shares of the information services provider’s stock valued at $3,752,000 after purchasing an additional 1,720 shares in the last quarter. Grimes & Company Inc. raised its holdings in shares of Alphabet by 1.6% during the 1st quarter. Grimes & Company Inc. now owns 176,121 shares of the information services provider’s stock worth $26,582,000 after acquiring an additional 2,727 shares in the last quarter. Saratoga Research & Investment Management grew its stake in shares of Alphabet by 19.1% in the 1st quarter. Saratoga Research & Investment Management now owns 1,001,128 shares of the information services provider’s stock worth $151,100,000 after buying an additional 160,884 shares in the last quarter. First Bank & Trust raised its position in Alphabet by 2.5% during the first quarter. First Bank & Trust now owns 9,694 shares of the information services provider’s stock valued at $1,463,000 after purchasing an additional 239 shares during the period. Finally, Baker Ellis Asset Management LLC boosted its stake in Alphabet by 5.7% during the first quarter. Baker Ellis Asset Management LLC now owns 21,355 shares of the information services provider’s stock worth $3,223,000 after buying an additional 1,150 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Up 2.8 %

Shares of Alphabet stock opened at $174.46 on Thursday. The company has a market capitalization of $2.16 trillion, a P/E ratio of 26.76, a PEG ratio of 1.27 and a beta of 1.04. The business’s fifty day moving average price is $162.17 and its two-hundred day moving average price is $168.78. Alphabet Inc. has a 1-year low of $122.68 and a 1-year 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.

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

Analyst Ratings Changes

GOOGL has been the subject of a number of research analyst reports. Citigroup raised their price target on Alphabet from $190.00 to $212.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Wedbush restated an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a research note on Thursday, October 24th. JMP Securities increased their price objective on Alphabet from $200.00 to $220.00 and gave the company a “market outperform” rating in a report on Wednesday. Jefferies Financial Group raised their price target on shares of Alphabet from $215.00 to $220.00 in a report on Tuesday, July 9th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and issued a $181.00 price objective on shares of Alphabet in a report on Wednesday, July 24th. Seven analysts have rated the stock with a hold rating, thirty have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.51.

Insider Buying and Selling at Alphabet

In other 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 value 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s 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 owns 31,334 shares in the company, valued at $5,264,112. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 2,106,806 shares in the company, valued at $350,361,837.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 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.

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.