Zhang Financial LLC Purchases 3,717 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Zhang Financial LLC raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 8.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,784 shares of the information services provider’s stock after purchasing an additional 3,717 shares during the quarter. Zhang Financial LLC’s holdings in Alphabet were worth $7,925,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of GOOGL. Vanguard Group Inc. increased its position in shares of Alphabet by 0.8% during the first quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock worth $75,144,172,000 after acquiring an additional 4,064,073 shares in the last quarter. Capital Research Global Investors boosted its stake in Alphabet by 14.4% during 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 purchasing an additional 7,275,757 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in 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 worth $9,011,412,000 after purchasing an additional 238,403 shares in the last quarter. Capital World Investors lifted its holdings in shares of 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 purchasing an additional 597,756 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in shares of Alphabet by 1.8% during the second quarter. American Century Companies Inc. now owns 23,465,190 shares of the information services provider’s stock valued at $4,274,184,000 after buying an additional 418,204 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Wedbush reissued an “outperform” rating and issued a $205.00 price target on shares of Alphabet in a research report on Thursday, September 5th. Evercore ISI lowered their target price on shares of Alphabet from $225.00 to $200.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Jefferies Financial Group boosted their price target on shares of Alphabet from $215.00 to $220.00 in a report on Tuesday, July 9th. Royal Bank of Canada increased their price objective on shares of Alphabet from $200.00 to $204.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Finally, Piper Sandler reissued an “overweight” rating and set a $200.00 target price on shares of Alphabet in a research report on Monday, September 30th. Eight investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $201.76.

Alphabet Trading Down 1.4 %

Shares of GOOGL stock opened at $162.78 on Thursday. Alphabet Inc. has a 52-week low of $120.21 and a 52-week high of $191.75. The business’s fifty day moving average is $161.87 and its 200 day moving average is $168.40. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The company has a market capitalization of $2.01 trillion, a PE ratio of 24.97, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to analysts’ expectations 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 firm posted $1.44 EPS. On average, equities research analysts anticipate that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the transaction, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at $5,264,112. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the sale, the senior vice president now owns 312,210 shares of the company’s stock, valued at $50,765,346. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the transaction, the chief accounting officer now owns 31,334 shares in the company, valued at $5,264,112. This trade 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 valued at $35,993,340 over the last three months. 11.55% of the stock is owned by corporate 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.