Pure Portfolios Holdings LLC Invests $922,000 in Alphabet Inc. (NASDAQ:GOOGL)

Pure Portfolios Holdings LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOGL) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 5,560 shares of the information services provider’s stock, valued at approximately $922,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Christopher J. Hasenberg Inc increased 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 valued at $26,000 after buying an additional 60 shares in the last quarter. Kings Path Partners LLC acquired a new position in Alphabet in the second quarter valued at about $36,000. Tributary Capital Management LLC bought a new stake in shares of Alphabet in the first quarter worth about $30,000. Denver PWM LLC acquired a new stake in shares of Alphabet during the second quarter worth about $41,000. Finally, Quarry LP acquired a new position in shares of Alphabet in the 2nd quarter valued at approximately $53,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $181.00 price target on shares of Alphabet in a research note on Wednesday, July 24th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $190.00 price objective on shares of Alphabet in a research report on Wednesday. Guggenheim increased 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. Tigress Financial lifted their price target on Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research note on Thursday, September 26th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $217.00 price objective (up from $215.00) on shares of Alphabet in a research report on Wednesday. Seven research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average price target of $205.51.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the company’s 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 completion of the sale, the chief executive officer now owns 2,106,806 shares of the company’s stock, valued at approximately $350,361,837.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total value of $230,804.28. Following the transaction, the chief accounting officer now owns 29,183 shares in the company, valued at $4,927,257.72. The trade was 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. Also, CEO Sundar Pichai sold 22,500 shares of the business’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 transaction, the chief executive officer now directly owns 2,106,806 shares of the company’s stock, valued at approximately $350,361,837.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 220,426 shares of company stock valued at $35,993,340 over the last quarter. 11.55% of the stock is owned by corporate insiders.

Alphabet Stock Up 2.8 %

NASDAQ GOOGL opened at $174.46 on Thursday. 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 company has a market cap of $2.16 trillion, a price-to-earnings ratio of 26.76, a PEG ratio of 1.27 and a beta of 1.04. The company has a 50 day moving average of $162.17 and a 200-day moving average of $168.78. Alphabet Inc. has a 1-year low of $122.68 and a 1-year high of $191.75.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 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 firm earned $1.55 EPS. On average, equities research analysts expect that Alphabet Inc. will post 7.65 earnings per share for the current fiscal year.

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.