New Century Financial Group LLC Grows Stake in Alphabet Inc. (NASDAQ:GOOGL)

New Century Financial Group LLC raised its stake in Alphabet Inc. (NASDAQ:GOOGL) by 8.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,188 shares of the information services provider’s stock after purchasing an additional 1,102 shares during the quarter. Alphabet comprises about 0.9% of New Century Financial Group LLC’s investment portfolio, making the stock its 20th biggest position. New Century Financial Group LLC’s holdings in Alphabet were worth $2,353,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in GOOGL. Christopher J. Hasenberg Inc grew its stake in shares of Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 60 shares in the last quarter. Kings Path Partners LLC acquired a new stake in shares of Alphabet during the second quarter valued at about $36,000. Tributary Capital Management LLC acquired a new stake in shares of Alphabet during the first quarter valued at about $30,000. Denver PWM LLC acquired a new position in Alphabet in the second quarter worth about $41,000. Finally, Quarry LP acquired a new position in Alphabet in the second quarter worth about $53,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total value 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet 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 transaction, the chief accounting officer now owns 31,334 shares in the company, valued at approximately $5,264,112. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet 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 completion of the transaction, the chief executive officer now owns 2,106,806 shares in the company, valued at approximately $350,361,837.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 220,426 shares of company stock worth $35,993,340. 11.55% of the stock is owned by insiders.

Alphabet Trading Up 1.8 %

Alphabet stock opened at $169.68 on Wednesday. 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 firm has a market cap of $2.10 trillion, a price-to-earnings ratio of 26.02, a price-to-earnings-growth ratio of 1.27 and a beta of 1.04. Alphabet Inc. has a 1 year low of $122.68 and a 1 year high of $191.75. The firm’s 50 day moving average price is $162.00 and its two-hundred day moving average price is $168.74.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GOOGL. Argus lifted their price target on Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Tigress Financial lifted their price target on Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research note on Thursday, September 26th. Truist Financial lifted their price target on Alphabet from $196.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group decreased their price target on Alphabet from $217.00 to $208.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Finally, BMO Capital Markets decreased their price target on Alphabet from $222.00 to $215.00 and set an “outperform” rating for the company in a research note on Wednesday, October 9th. Seven analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $201.76.

Alphabet 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.