Alphabet Inc. (NASDAQ:GOOGL) Position Lifted by Beech Hill Advisors Inc.

Beech Hill Advisors Inc. grew its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 1.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 63,610 shares of the information services provider’s stock after acquiring an additional 1,035 shares during the period. Alphabet comprises approximately 4.0% of Beech Hill Advisors Inc.’s holdings, making the stock its 2nd biggest holding. Beech Hill Advisors Inc.’s holdings in Alphabet were worth $10,550,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. New Hampshire Trust boosted its position in Alphabet by 2.7% in the 2nd quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock valued at $7,963,000 after buying an additional 1,132 shares during the last quarter. Berkshire Money Management Inc. acquired a new stake in shares of Alphabet during the first quarter worth approximately $359,000. Schneider Downs Wealth Management Advisors LP boosted its stake in Alphabet by 58.4% during the 1st quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider’s stock valued at $962,000 after acquiring an additional 2,351 shares during the last quarter. Trinity Financial Advisors LLC increased its position in shares of Alphabet by 4.5% in the 3rd quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock worth $771,000 after purchasing an additional 190 shares during the last quarter. Finally, StoneCrest Wealth Management Inc. lifted its position in shares of Alphabet by 0.7% during the third quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock worth $3,567,000 after purchasing an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on GOOGL shares. BMO Capital Markets decreased their target price on Alphabet from $222.00 to $215.00 and set an “outperform” rating for the company in a research report on Wednesday, October 9th. Bank of America upped their price objective on Alphabet from $200.00 to $206.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Tigress Financial increased their price objective on shares of Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a report on Thursday, September 26th. Needham & Company LLC reaffirmed a “buy” rating and set a $210.00 price target on shares of Alphabet in a report on Tuesday, October 15th. Finally, Truist Financial boosted their price target on shares of Alphabet from $196.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Seven 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $201.76.

Insider Buying and Selling

In related news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the transaction, the senior vice president now owns 312,210 shares in the company, valued at $50,765,346. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the sale, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the sale, the chief accounting officer now owns 31,334 shares in the company, valued at $5,264,112. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 220,426 shares of company stock valued at $35,993,340. Company insiders own 11.55% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $165.27 on Friday. The stock has a market capitalization of $2.04 trillion, a P/E ratio of 25.35, a P/E/G ratio of 1.21 and a beta of 1.04. The business has a 50-day moving average of $161.90 and a two-hundred day moving average of $168.36. Alphabet Inc. has a fifty-two week low of $120.21 and a fifty-two week high of $191.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08.

Alphabet (NASDAQ:GOOGL) last announced its 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. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. During the same quarter in the prior year, the business earned $1.44 earnings per share. On average, equities research analysts predict that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

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.