International Assets Investment Management LLC Takes $14.27 Million Position in Alphabet Inc. (NASDAQ:GOOGL)
International Assets Investment Management LLC purchased a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 109,037 shares of the information services provider’s stock, valued at approximately $14,269,000. Alphabet accounts for approximately 1.1% of International Assets Investment Management LLC’s investment portfolio, making the stock its 14th largest holding.
Other large investors also recently modified their holdings of the company. Live Oak Investment Partners acquired a new position in Alphabet during the fourth quarter worth about $26,000. Armor Investment Advisors LLC acquired a new position in Alphabet during the second quarter worth about $28,000. CarsonAllaria Wealth Management Ltd. grew its holdings in Alphabet by 136.7% during the second quarter. CarsonAllaria Wealth Management Ltd. now owns 284 shares of the information services provider’s stock worth $34,000 after acquiring an additional 164 shares during the period. VitalStone Financial LLC grew its holdings in Alphabet by 1,900.0% during the second quarter. VitalStone Financial LLC now owns 280 shares of the information services provider’s stock worth $34,000 after acquiring an additional 266 shares during the period. Finally, Sanctuary Wealth Management L.L.C. acquired a new position in Alphabet during the fourth quarter worth about $34,000. 35.08% of the stock is owned by institutional investors and hedge funds.
Alphabet Stock Up 0.5 %
Shares of GOOGL stock opened at $132.60 on Friday. Alphabet Inc. has a 12 month low of $84.86 and a 12 month high of $141.22. The firm has a market cap of $1.66 trillion, a PE ratio of 25.45, a price-to-earnings-growth ratio of 1.39 and a beta of 1.03. The stock has a 50 day moving average of $133.48 and a 200-day moving average of $129.84. The company has a quick ratio of 2.01, a current ratio of 2.04 and a debt-to-equity ratio of 0.05.
Alphabet (NASDAQ:GOOGL – Get Free Report) last issued its quarterly earnings results on Tuesday, October 24th. The information services provider reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.10. Alphabet had a return on equity of 25.24% and a net margin of 22.46%. The company had revenue of $64.05 billion during the quarter, compared to analyst estimates of $63.13 billion. On average, equities analysts predict that Alphabet Inc. will post 5.75 EPS for the current year.
Insiders Place Their Bets
In other Alphabet news, SVP Prabhakar Raghavan sold 16,083 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $133.82, for a total transaction of $2,152,227.06. Following the completion of the transaction, the senior vice president now directly owns 75,621 shares in the company, valued at $10,119,602.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Prabhakar Raghavan sold 16,083 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $133.82, for a total value of $2,152,227.06. Following the completion of the sale, the senior vice president now directly owns 75,621 shares in the company, valued at $10,119,602.22. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ann Mather sold 220 shares of Alphabet stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $130.89, for a total value of $28,795.80. Following the completion of the sale, the director now owns 4,877 shares of the company’s stock, valued at $638,350.53. The disclosure for this sale can be found here. Insiders sold 130,127 shares of company stock worth $17,085,065 over the last three months. 0.88% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
GOOGL has been the topic of a number of analyst reports. Monness Crespi & Hardt cut Alphabet from a “buy” rating to a “neutral” rating in a research note on Wednesday, October 25th. Needham & Company LLC lifted their price target on Alphabet from $140.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, October 25th. Wedbush reissued an “outperform” rating and issued a $160.00 price target on shares of Alphabet in a research note on Wednesday, October 25th. Piper Sandler lifted their target price on Alphabet from $147.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, October 25th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $155.00 target price on shares of Alphabet in a research note on Wednesday, October 25th. Five research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $147.53.
Get Our Latest Analysis on GOOGL
Alphabet Profile (Free Report)
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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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