Alphabet Inc. (NASDAQ:GOOGL) is True North Advisors LLC’s 10th Largest Position

True North Advisors LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 30,326 shares of the information services provider’s stock after selling 467 shares during the quarter. Alphabet makes up approximately 1.3% of True North Advisors LLC’s holdings, making the stock its 10th biggest holding. True North Advisors LLC’s holdings in Alphabet were worth $5,030,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Christopher J. Hasenberg Inc grew its holdings in Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after acquiring an additional 60 shares in the last quarter. Kings Path Partners LLC bought a new stake in shares of Alphabet in the 2nd quarter valued at about $36,000. Tributary Capital Management LLC purchased a new stake in shares of Alphabet in the 1st quarter worth approximately $30,000. Denver PWM LLC bought a new position in shares of Alphabet during the second quarter valued at approximately $41,000. Finally, Quarry LP bought a new position in Alphabet in the second quarter worth approximately $53,000. Institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several recent research reports. Evercore ISI dropped their target price on Alphabet from $225.00 to $200.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Wolfe Research began coverage on Alphabet in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 target price on the stock. UBS Group increased their price target on shares of Alphabet from $200.00 to $204.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. DA Davidson began coverage on shares of Alphabet in a report on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price target on the stock. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $181.00 price objective on shares of Alphabet in a research note on Wednesday, July 24th. Eight investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $201.76.

Alphabet Trading Down 1.4 %

Alphabet stock opened at $162.93 on Friday. 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 firm has a market cap of $2.01 trillion, a PE ratio of 24.99, a P/E/G ratio of 1.21 and a beta of 1.04. The stock’s 50 day simple moving average is $161.77 and its two-hundred day simple moving average is $168.01. Alphabet Inc. has a 12 month low of $120.21 and a 12 month high of $191.75.

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

Insider Activity

In other Alphabet news, 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 transaction of $3,741,750.00. Following the transaction, the chief executive officer now owns 2,106,806 shares in the company, valued at approximately $350,361,837.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $164.95, for a total value of $247,425.00. Following the completion of the sale, the director now owns 26,324 shares of the company’s stock, valued at approximately $4,342,143.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the transaction, the chief executive officer now owns 2,106,806 shares of the company’s stock, valued at $350,361,837.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 220,426 shares of company stock worth $35,993,340 in the last ninety days. Company insiders own 11.55% of the company’s stock.

Alphabet Company 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.