Montag A & Associates Inc. Raises Position in Alphabet Inc. (NASDAQ:GOOGL)

Montag A & Associates Inc. grew its position in Alphabet Inc. (NASDAQ:GOOGL) by 2.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 129,511 shares of the information services provider’s stock after acquiring an additional 2,670 shares during the period. Alphabet comprises 1.0% of Montag A & Associates Inc.’s portfolio, making the stock its 21st largest holding. Montag A & Associates Inc.’s holdings in Alphabet were worth $15,502,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in GOOGL. Vanguard Group Inc. lifted its stake in shares of Alphabet by 1,919.4% in the third quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock valued at $45,628,484,000 after purchasing an additional 453,413,389 shares during the period. State Street Corp lifted its stake in shares of Alphabet by 1,900.6% in the third quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock valued at $20,770,809,000 after purchasing an additional 206,300,042 shares during the period. Moneta Group Investment Advisors LLC lifted its stake in shares of Alphabet by 111,197.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 170,420,243 shares of the information services provider’s stock valued at $15,036,178,000 after purchasing an additional 170,267,122 shares during the period. Geode Capital Management LLC lifted its stake in shares of Alphabet by 1.3% in the first quarter. Geode Capital Management LLC now owns 118,576,618 shares of the information services provider’s stock valued at $12,271,705,000 after purchasing an additional 1,499,107 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in Alphabet by 1,759.2% during the third quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock worth $11,106,502,000 after acquiring an additional 109,870,525 shares during the last quarter. Hedge funds and other institutional investors own 35.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on GOOGL shares. JPMorgan Chase & Co. lifted their target price on shares of Alphabet from $121.00 to $150.00 in a research report on Wednesday, July 26th. Sanford C. Bernstein lifted their target price on shares of Alphabet from $130.00 to $135.00 in a research report on Wednesday, July 26th. KeyCorp cut their target price on shares of Alphabet from $155.00 to $153.00 and set an “overweight” rating for the company in a research report on Wednesday, October 25th. Rosenblatt Securities lifted their target price on shares of Alphabet from $163.00 to $174.00 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. Finally, Loop Capital boosted their price objective on shares of Alphabet from $125.00 to $140.00 and gave the company a “hold” rating in a research report on Friday, August 18th. Five investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $147.00.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $139.93, for a total value of $27,986.00. Following the sale, the director now directly owns 7,384 shares of the company’s stock, valued at $1,033,243.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $139.93, for a total value of $27,986.00. Following the sale, the director now directly owns 7,384 shares of the company’s stock, valued at $1,033,243.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 75,000 shares of the company’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $131.09, for a total transaction of $9,831,750.00. Following the completion of the sale, the director now directly owns 104,364 shares in the company, valued at $13,681,076.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 176,576 shares of company stock valued at $23,425,367. Corporate insiders own 0.88% of the company’s stock.

Alphabet Trading Up 0.7 %

NASDAQ GOOGL opened at $136.25 on Tuesday. The company’s fifty day simple moving average is $133.42 and its 200-day simple moving average is $127.88. Alphabet Inc. has a 52 week low of $84.86 and a 52 week high of $141.22. The company has a current ratio of 2.04, a quick ratio of 2.01 and a debt-to-equity ratio of 0.05. The stock has a market cap of $1.71 trillion, a P/E ratio of 26.15, a PEG ratio of 1.51 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last posted its 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 net margin of 22.46% and a return on equity of 25.24%. The business had revenue of $64.05 billion for the quarter, compared to analysts’ expectations of $63.13 billion. Equities research analysts predict that Alphabet Inc. will post 5.74 EPS for the current fiscal year.

About Alphabet

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.