Allen Capital Group LLC Increases Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Allen Capital Group LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,111 shares of the information services provider’s stock after purchasing an additional 1,368 shares during the quarter. Allen Capital Group LLC’s holdings in Alphabet were worth $5,184,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GOOGL. FMR LLC grew its position in shares of Alphabet by 5.6% during the third quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock valued at $29,746,764,000 after purchasing an additional 12,070,681 shares in the last quarter. Northern Trust Corp grew its holdings in Alphabet by 3.7% during the 3rd quarter. Northern Trust Corp now owns 67,684,197 shares of the information services provider’s stock valued at $8,857,154,000 after buying an additional 2,416,328 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Alphabet by 1.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 34,035,275 shares of the information services provider’s stock worth $4,453,856,000 after acquiring an additional 335,219 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Alphabet by 7.8% during the 3rd quarter. American Century Companies Inc. now owns 25,064,614 shares of the information services provider’s stock valued at $3,279,955,000 after acquiring an additional 1,809,910 shares during the last quarter. Finally, Jennison Associates LLC grew its holdings in shares of Alphabet by 9.3% in the third quarter. Jennison Associates LLC now owns 24,145,417 shares of the information services provider’s stock valued at $3,159,669,000 after purchasing an additional 2,058,221 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In related news, Director Frances Arnold sold 230 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the transaction, the director now owns 15,104 shares in the company, valued at approximately $2,326,922.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Frances Arnold sold 230 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the transaction, the director now owns 15,104 shares in the company, valued at approximately $2,326,922.24. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the transaction, the chief executive officer now directly owns 2,303,011 shares of the company’s stock, valued at $362,516,961.51. The disclosure for this sale can be found here. In the last quarter, insiders have sold 251,339 shares of company stock worth $36,377,482. 0.88% of the stock is owned by corporate insiders.

Alphabet Stock Up 0.5 %

Shares of GOOGL stock opened at $159.13 on Thursday. The stock’s fifty day moving average price is $146.96 and its 200 day moving average price is $141.06. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. Alphabet Inc. has a 1-year low of $102.63 and a 1-year high of $160.22. The company has a market cap of $1.98 trillion, a price-to-earnings ratio of 27.44, a price-to-earnings-growth ratio of 1.44 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. The firm had revenue of $86.31 billion for the quarter, compared to the consensus estimate of $70.77 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. During the same quarter in the prior year, the company posted $1.05 earnings per share. On average, research analysts expect that Alphabet Inc. will post 6.78 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on GOOGL shares. Canaccord Genuity Group lifted their price objective on shares of Alphabet from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Wolfe Research lifted their price objective on shares of Alphabet from $170.00 to $180.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. KeyCorp lifted their price target on shares of Alphabet from $165.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday. BMO Capital Markets reissued an “outperform” rating and issued a $185.00 price objective (up previously from $178.00) on shares of Alphabet in a research note on Wednesday, April 10th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $155.00 price target on shares of Alphabet in a research note on Wednesday, January 31st. Five analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $158.71.

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.