EWG Elevate Inc. Boosts Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

EWG Elevate Inc. raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 9.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,305 shares of the information services provider’s stock after acquiring an additional 115 shares during the quarter. EWG Elevate Inc.’s holdings in Alphabet were worth $216,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Alphabet by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock valued at $75,144,172,000 after buying an additional 4,064,073 shares in the last quarter. Capital Research Global Investors grew its stake in shares of Alphabet by 14.4% in the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock valued at $8,724,251,000 after buying an additional 7,275,757 shares during the period. Bank of New York Mellon Corp raised its position in shares of Alphabet by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock valued at $9,011,412,000 after buying an additional 238,403 shares during the period. Capital World Investors lifted its holdings in Alphabet by 1.7% in the first quarter. Capital World Investors now owns 35,412,299 shares of the information services provider’s stock valued at $5,344,778,000 after acquiring an additional 597,756 shares during the last quarter. Finally, American Century Companies Inc. grew its position in Alphabet by 1.8% in the second quarter. American Century Companies Inc. now owns 23,465,190 shares of the information services provider’s stock worth $4,274,184,000 after acquiring an additional 418,204 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Up 0.3 %

Shares of NASDAQ:GOOGL opened at $165.46 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The stock has a market cap of $2.04 trillion, a P/E ratio of 25.38, a P/E/G ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a 1-year low of $120.21 and a 1-year high of $191.75. The firm has a fifty day moving average price of $161.63 and a 200 day moving average price of $168.07.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same quarter last year, the company posted $1.44 earnings per share. Sell-side analysts predict that Alphabet Inc. will post 7.64 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on GOOGL. Wells Fargo & Company decreased their price target on Alphabet from $190.00 to $182.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 2nd. Wedbush reissued an “outperform” rating and issued a $205.00 price target on shares of Alphabet in a research note on Thursday, September 5th. Guggenheim increased their price objective on shares of Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Roth Mkm reissued a “buy” rating and issued a $206.00 target price on shares of Alphabet in a research report on Thursday, August 29th. Finally, TD Securities lifted their price objective on Alphabet from $200.00 to $220.00 in a research note on Wednesday, July 10th. Eight investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $201.13.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,835 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the sale, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at $4,421,948.46. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director John L. Hennessy sold 700 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $165.00, for a total transaction of $115,500.00. Following the transaction, the director now directly owns 29,324 shares in the company, valued at $4,838,460. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the sale, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 197,926 shares of company stock worth $32,251,590. 11.55% of the stock is currently owned by insiders.

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.