Laurel Wealth Advisors LLC Raises Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Laurel Wealth Advisors LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 3.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,154 shares of the information services provider’s stock after buying an additional 157 shares during the quarter. Alphabet comprises 2.2% of Laurel Wealth Advisors LLC’s investment portfolio, making the stock its 8th largest position. Laurel Wealth Advisors LLC’s holdings in Alphabet were worth $9,053,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in GOOGL. IFM Investors Pty Ltd boosted its position in shares of Alphabet by 4.2% during the first quarter. IFM Investors Pty Ltd now owns 41,060 shares of the information services provider’s stock valued at $114,202,000 after purchasing an additional 1,672 shares in the last quarter. Core Alternative Capital boosted its position in shares of Alphabet by 44.4% during the first quarter. Core Alternative Capital now owns 3,728 shares of the information services provider’s stock valued at $10,369,000 after purchasing an additional 1,146 shares in the last quarter. Bornite Capital Management LP bought a new stake in shares of Alphabet during the first quarter valued at approximately $16,688,000. Markel Corp boosted its position in shares of Alphabet by 17.0% during the first quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock valued at $43,110,000 after purchasing an additional 2,250 shares in the last quarter. Finally, Thomas Story & Son LLC raised its stake in Alphabet by 24.6% during the first quarter. Thomas Story & Son LLC now owns 1,949 shares of the information services provider’s stock valued at $5,422,000 after buying an additional 385 shares during the last quarter. 1.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Mizuho lowered their price objective on Alphabet from $150.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, October 26th. Morgan Stanley lowered their price objective on Alphabet from $125.00 to $120.00 and set an “overweight” rating for the company in a research note on Tuesday, November 15th. Susquehanna Bancshares lowered their price objective on Alphabet from $150.00 to $120.00 and set a “positive” rating for the company in a research note on Wednesday, October 26th. Atlantic Securities lowered their price objective on Alphabet to $115.00 in a research note on Thursday, October 27th. Finally, Guggenheim decreased their price target on Alphabet to $130.00 and set an “outperform” rating for the company in a research note on Wednesday, July 27th. Five research analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $133.90.

Insider Buying and Selling

In related news, major shareholder 2019 Gp L.L.C. Gv acquired 800,000 shares of the firm’s stock in a transaction on Monday, October 24th. The stock was bought at an average price of $17.00 per share, for a total transaction of $13,600,000.00. Following the completion of the purchase, the insider now directly owns 11,522,248 shares of the company’s stock, valued at approximately $195,878,216. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv bought 800,000 shares of the firm’s stock in a transaction dated Monday, October 24th. The stock was acquired at an average price of $17.00 per share, for a total transaction of $13,600,000.00. Following the completion of the purchase, the insider now owns 11,522,248 shares of the company’s stock, valued at $195,878,216. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder 2021 Gp L.L.C. Gv purchased 182,312 shares of the business’s stock in a transaction that occurred on Wednesday, November 9th. The shares were purchased at an average cost of $34.60 per share, with a total value of $6,307,995.20. Following the completion of the acquisition, the insider now directly owns 1,294,527 shares of the company’s stock, valued at $44,790,634.20. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 1,461,702 shares of company stock worth $36,999,217 and sold 302,441 shares worth $20,007,551. Insiders own 11.44% of the company’s stock.

Alphabet Trading Up 1.5 %

Shares of GOOGL stock traded up $1.41 during trading on Thursday, hitting $98.46. 18,868,092 shares of the stock traded hands, compared to its average volume of 41,118,432. The firm has a market capitalization of $1.27 trillion, a P/E ratio of 19.55, a price-to-earnings-growth ratio of 1.84 and a beta of 1.05. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.52 and a quick ratio of 2.47. The firm’s fifty day moving average price is $97.11 and its 200-day moving average price is $107.37. Alphabet Inc. has a 52-week low of $83.34 and a 52-week high of $151.55.

Alphabet (NASDAQ:GOOGLGet Rating) last announced its earnings results on Tuesday, October 25th. The information services provider reported $1.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.19). Alphabet had a net margin of 23.75% and a return on equity of 26.41%. The firm had revenue of $57.27 billion during the quarter, compared to analysts’ expectations of $58.36 billion. During the same period in the previous year, the firm earned $1.40 EPS. As a group, research analysts forecast that Alphabet Inc. will post 4.68 earnings per share for the current fiscal year.

Alphabet Company Profile

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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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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