Diamant Asset Management Inc. Boosts Stake in Alphabet Inc. (NASDAQ:GOOGL)

Diamant Asset Management Inc. raised its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,144 shares of the information services provider’s stock after buying an additional 140 shares during the period. Alphabet comprises about 5.0% of Diamant Asset Management Inc.’s investment portfolio, making the stock its 4th biggest position. Diamant Asset Management Inc.’s holdings in Alphabet were worth $7,789,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently made changes to their positions in the company. Joseph P. Lucia & Associates LLC boosted its holdings in Alphabet by 1.4% in the fourth quarter. Joseph P. Lucia & Associates LLC now owns 6,879 shares of the information services provider’s stock valued at $1,302,000 after acquiring an additional 98 shares in the last quarter. BankPlus Wealth Management LLC purchased a new position in Alphabet in the 4th quarter worth about $513,000. Eaton Cambridge Inc. raised its position in Alphabet by 21.2% in the fourth quarter. Eaton Cambridge Inc. now owns 1,906 shares of the information services provider’s stock worth $361,000 after acquiring an additional 334 shares during the period. JDH Wealth Management LLC purchased a new stake in Alphabet in the 4th quarter worth approximately $299,000. Finally, Integrity Wealth Solutions LLC lifted its position in shares of Alphabet by 23.2% in the fourth quarter. Integrity Wealth Solutions LLC now owns 4,958 shares of the information services provider’s stock valued at $938,000 after acquiring an additional 935 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of a number of research analyst reports. Scotiabank upgraded Alphabet to a “strong-buy” rating in a research report on Friday, October 11th. Loop Capital increased their price objective on Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. China Renaissance raised Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Morgan Stanley lifted their price objective on Alphabet from $205.00 to $215.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research note on Thursday, December 12th. Nine analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $211.00.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $201.23 on Tuesday. The company has a 50-day simple moving average of $188.97 and a 200-day simple moving average of $174.03. Alphabet Inc. has a one year low of $130.66 and a one year high of $205.48. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The stock has a market capitalization of $2.46 trillion, a price-to-earnings ratio of 26.69, a PEG ratio of 1.31 and a beta of 0.99.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 1,340 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the sale, the chief accounting officer now owns 17,848 shares of the company’s stock, valued at $3,606,723.84. This trade represents a 6.98 % decrease in their ownership of the stock. The transaction 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 stock in a transaction 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 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 122,529 shares of company stock valued at $22,453,483 over the last ninety days. Corporate insiders own 11.55% of the company’s stock.

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.