Sequoia Financial Advisors LLC Acquires 51,739 Shares of Alphabet Inc. (NASDAQ:GOOGL)
Sequoia Financial Advisors LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1,674.9% during the 3rd quarter, Holdings Channel.com reports. The fund owned 54,828 shares of the information services provider's stock after purchasing an additional 51,739 shares during the period. Sequoia Financial Advisors LLC's holdings in Alphabet were worth $5,244,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Alphabet by 1.4% in the first quarter. Vanguard Group Inc. now owns 23,304,411 shares of the information services provider's stock valued at $64,817,723,000 after purchasing an additional 331,945 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Alphabet by 1,884.3% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 17,922,978 shares of the information services provider's stock valued at $1,714,333,000 after purchasing an additional 17,019,726 shares during the period. Fiera Capital Corp raised its position in shares of Alphabet by 1,957.3% in the second quarter. Fiera Capital Corp now owns 17,857,280 shares of the information services provider's stock valued at $1,945,783,000 after purchasing an additional 16,989,271 shares during the period. Nordea Investment Management AB raised its position in shares of Alphabet by 1,830.2% in the third quarter. Nordea Investment Management AB now owns 16,487,668 shares of the information services provider's stock valued at $1,605,074,000 after purchasing an additional 15,633,495 shares during the period. Finally, Raymond James & Associates raised its position in shares of Alphabet by 1,927.0% in the third quarter. Raymond James & Associates now owns 8,284,714 shares of the information services provider's stock valued at $792,433,000 after purchasing an additional 7,875,993 shares during the period. Institutional investors own 34.06% of the company's stock.
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Analysts Set New Price Targets
A number of research firms have recently commented on GOOGL. Needham & Company LLC dropped their price target on shares of Alphabet from $160.00 to $115.00 and set a "buy" rating on the stock in a research report on Thursday, December 22nd. Robert W. Baird lowered their price objective on shares of Alphabet to $120.00 in a research note on Thursday, October 27th. Royal Bank of Canada lowered their price objective on shares of Alphabet from $135.00 to $130.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 26th. Wells Fargo & Company lowered their price objective on shares of Alphabet from $160.00 to $145.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 26th. Finally, Tigress Financial lowered their price objective on shares of Alphabet from $186.00 to $160.00 and set a "strong-buy" rating on the stock in a research note on Friday, January 6th. Five equities research analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet currently has a consensus rating of "Moderate Buy" and an average price target of $132.13.
Insiders Place Their Bets
In other Alphabet news, Director Ann Mather sold 280 shares of the business's stock in a transaction dated Tuesday, October 25th. The stock was sold at an average price of $103.23, for a total transaction of $28,904.40. Following the completion of the sale, the director now directly owns 11,200 shares of the company's stock, valued at approximately $1,156,176. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Amie Thuener O'toole sold 855 shares of the business's stock in a transaction dated Wednesday, November 2nd. The stock was sold at an average price of $90.85, for a total transaction of $77,676.75. Following the completion of the transaction, the chief accounting officer now directly owns 24,694 shares in the company, valued at approximately $2,243,449.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ann Mather sold 280 shares of the business's stock in a transaction dated Tuesday, October 25th. The stock was sold at an average price of $103.23, for a total value of $28,904.40. Following the transaction, the director now owns 11,200 shares of the company's stock, valued at $1,156,176. The disclosure for this sale can be found here. In the last three months, insiders bought 1,461,702 shares of company stock valued at $36,999,217 and sold 190,744 shares valued at $8,564,640. Company insiders own 11.44% of the company's stock.
Alphabet Stock Performance
Shares of NASDAQ:GOOGL opened at $93.05 on Friday. The stock has a market capitalization of $1.20 trillion, a P/E ratio of 18.48, a P/E/G ratio of 1.62 and a beta of 1.09. Alphabet Inc. has a 1-year low of $83.34 and a 1-year high of $151.55. The company has a current ratio of 2.52, a quick ratio of 2.47 and a debt-to-equity ratio of 0.06. The business has a 50-day moving average price of $93.00 and a two-hundred day moving average price of $101.63.
Alphabet (NASDAQ:GOOGL – Get Rating) last announced its quarterly earnings data on Tuesday, October 25th. The information services provider reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.19). The firm had revenue of $57.27 billion for the quarter, compared to the consensus estimate of $58.36 billion. Alphabet had a return on equity of 26.41% and a net margin of 23.75%. During the same period in the prior year, the firm posted $1.40 earnings per share. Equities analysts predict that Alphabet Inc. will post 4.68 earnings per share for the current year.
Alphabet Company Profile
Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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