Markel Corp lifted its stake in Alphabet Inc (NASDAQ:GOOG) by 3.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 113,809 shares of the information services provider’s stock after buying an additional 4,285 shares during the quarter. Alphabet makes up 2.3% of Markel Corp’s holdings, making the stock its 13th largest position. Markel Corp’s holdings in Alphabet were worth $135,828,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently modified their holdings of GOOG. Armstrong Henry H Associates Inc. boosted its position in Alphabet by 1.0% during the second quarter. Armstrong Henry H Associates Inc. now owns 4,365 shares of the information services provider’s stock worth $4,870,000 after purchasing an additional 44 shares in the last quarter. Carlson Capital Management purchased a new position in Alphabet during the second quarter worth approximately $216,000. IMS Capital Management boosted its position in Alphabet by 2.9% during the second quarter. IMS Capital Management now owns 1,465 shares of the information services provider’s stock worth $1,634,000 after purchasing an additional 41 shares in the last quarter. First Merchants Corp boosted its position in Alphabet by 17.2% during the second quarter. First Merchants Corp now owns 742 shares of the information services provider’s stock worth $828,000 after purchasing an additional 109 shares in the last quarter. Finally, Ironvine Capital Partners LLC purchased a new position in shares of Alphabet in the second quarter valued at approximately $15,979,000. Hedge funds and other institutional investors own 36.93% of the company’s stock.
Several equities analysts have recently weighed in on GOOG shares. Stifel Nicolaus restated a “buy” rating on shares of Alphabet in a research report on Friday, October 26th. Canaccord Genuity decreased their target price on Alphabet from $1,170.00 to $1,140.00 and set a “hold” rating on the stock in a research report on Friday, October 26th. Deutsche Bank reaffirmed a “buy” rating and issued a $1,375.00 price target (up previously from $1,350.00) on shares of Alphabet in a report on Tuesday, October 23rd. Macquarie reaffirmed a “buy” rating on shares of Alphabet in a report on Friday, October 26th. Finally, Morgan Stanley reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, September 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and thirty have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $1,301.81.
In other news, VP Amie Thuener O’toole sold 80 shares of Alphabet stock in a transaction on Friday, November 2nd. The stock was sold at an average price of $1,073.72, for a total value of $85,897.60. Following the completion of the sale, the vice president now directly owns 388 shares of the company’s stock, valued at $416,603.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director L John Doerr sold 11,908 shares of Alphabet stock in a transaction on Thursday, November 15th. The shares were sold at an average price of $1,049.76, for a total value of $12,500,542.08. Following the completion of the sale, the director now directly owns 3,485 shares of the company’s stock, valued at $3,658,413.60. The disclosure for this sale can be found here. Insiders sold 83,720 shares of company stock valued at $88,447,943 over the last ninety days. Insiders own 13.11% of the company’s stock.
GOOG stock opened at $1,057.19 on Friday. Alphabet Inc has a 52-week low of $970.11 and a 52-week high of $1,273.89. The company has a quick ratio of 4.10, a current ratio of 4.14 and a debt-to-equity ratio of 0.02. The firm has a market cap of $747.83 billion, a price-to-earnings ratio of 24.18 and a beta of 1.07.
Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, October 25th. The information services provider reported $13.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $10.41 by $2.65. Alphabet had a return on equity of 19.40% and a net margin of 14.45%. The business had revenue of $27.16 billion during the quarter.
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Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.
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