Raleigh Capital Management Inc. Buys 498 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Raleigh Capital Management Inc. lifted its holdings in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 3.0% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,368 shares of the information services provider’s stock after buying an additional 498 shares during the period. Alphabet makes up approximately 1.3% of Raleigh Capital Management Inc.’s portfolio, making the stock its 12th biggest holding. Raleigh Capital Management Inc.’s holdings in Alphabet were worth $3,288,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in GOOGL. Conrad Siegel Investment Advisors Inc. boosted its position in shares of Alphabet by 0.5% during the 4th quarter. Conrad Siegel Investment Advisors Inc. now owns 9,845 shares of the information services provider’s stock valued at $1,864,000 after acquiring an additional 53 shares during the last quarter. Denver PWM LLC lifted its stake in shares of Alphabet by 25.4% during the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after acquiring an additional 57 shares during the last quarter. Ignite Planners LLC increased its stake in Alphabet by 0.4% in the 4th quarter. Ignite Planners LLC now owns 15,078 shares of the information services provider’s stock worth $2,892,000 after buying an additional 57 shares during the period. Fermata Advisors LLC grew its stake in Alphabet by 0.8% in the fourth quarter. Fermata Advisors LLC now owns 7,433 shares of the information services provider’s stock worth $1,407,000 after purchasing an additional 57 shares in the last quarter. Finally, Winch Advisory Services LLC lifted its stake in Alphabet by 1.3% in the fourth quarter. Winch Advisory Services LLC now owns 4,386 shares of the information services provider’s stock worth $830,000 after acquiring an additional 58 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Up 1.8 %

NASDAQ:GOOGL opened at $195.30 on Wednesday. Alphabet Inc. has a twelve month low of $130.66 and a twelve month high of $202.29. The company has a market cap of $2.39 trillion, a PE ratio of 25.90, a P/E/G ratio of 1.27 and a beta of 0.98. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The company’s 50 day moving average is $186.79 and its two-hundred day moving average is $173.61.

Alphabet (NASDAQ:GOOGLGet Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS 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 the consensus estimate of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period in the prior year, the company earned $1.55 EPS. Analysts anticipate that Alphabet Inc. will post 8.02 EPS for the current year.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $171.42, for a total transaction of $234,331.14. Following the completion of the sale, the chief accounting officer now directly owns 26,349 shares in the company, valued at $4,516,745.58. This trade represents a 4.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $177.36, for a total value of $3,990,600.00. Following the completion of the sale, the chief executive officer now directly owns 2,084,306 shares in the company, valued at approximately $369,672,512.16. The trade was a 1.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 122,887 shares of company stock valued at $22,470,464 in the last three months. 11.55% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on GOOGL. Robert W. Baird reiterated an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a research note on Tuesday, December 10th. BMO Capital Markets reissued an “outperform” rating and issued a $217.00 price objective (up previously from $215.00) on shares of Alphabet in a report on Wednesday, October 30th. Pivotal Research upped their price objective on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Evercore ISI increased their price objective on shares of Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Needham & Company LLC raised their price target on shares of Alphabet from $210.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday. Nine analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $209.82.

Read Our Latest Analysis on Alphabet

Alphabet Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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