Means Investment CO. Inc. Boosts Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Means Investment CO. Inc. raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,938 shares of the information services provider’s stock after purchasing an additional 631 shares during the quarter. Means Investment CO. Inc.’s holdings in Alphabet were worth $2,809,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in GOOGL. Vanguard Group Inc. grew its holdings in 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 during the period. Capital Research Global Investors grew its holdings in Alphabet by 14.4% during the first quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock worth $8,724,251,000 after acquiring an additional 7,275,757 shares during the period. Bank of New York Mellon Corp grew its holdings in Alphabet by 0.5% during the second 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 acquiring an additional 238,403 shares during the period. Capital World Investors grew its holdings in Alphabet by 1.7% during the first quarter. Capital World Investors now owns 35,412,299 shares of the information services provider’s stock worth $5,344,778,000 after acquiring an additional 597,756 shares during the period. Finally, American Century Companies Inc. grew its holdings in 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 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.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total value of $3,741,750.00. Following the sale, the chief executive officer now owns 2,106,806 shares in the company, valued at $350,361,837.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total value of $230,804.28. Following the completion of the sale, the chief accounting officer now directly owns 29,183 shares of the company’s stock, valued at approximately $4,927,257.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale 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 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 completion of the sale, the chief executive officer now directly owns 2,106,806 shares of the company’s stock, valued at $350,361,837.80. The trade was 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 over the last quarter. 11.55% of the stock is currently owned by company insiders.

Alphabet Price Performance

NASDAQ:GOOGL opened at $169.68 on Wednesday. Alphabet Inc. has a 52 week low of $122.68 and a 52 week high of $191.75. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $2.10 trillion, a P/E ratio of 26.02, a P/E/G ratio of 1.27 and a beta of 1.04. The stock’s fifty day moving average is $162.00 and its two-hundred day moving average is $168.74.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several analyst reports. Roth Mkm reaffirmed a “buy” rating and set a $206.00 target price on shares of Alphabet in a report on Thursday, August 29th. Wedbush reissued an “outperform” rating and issued a $205.00 price objective on shares of Alphabet in a report on Thursday, October 24th. Morgan Stanley dropped their price objective on Alphabet from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. Bank of America raised their price objective on Alphabet from $200.00 to $206.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Finally, Jefferies Financial Group raised their price objective on Alphabet from $215.00 to $220.00 in a report on Tuesday, July 9th. Seven equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.