Ellevest Inc. Increases Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Ellevest Inc. raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 16.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 32,591 shares of the information services provider’s stock after buying an additional 4,623 shares during the period. Ellevest Inc.’s holdings in Alphabet were worth $3,901,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in GOOGL. Vanguard Group Inc. grew its position in shares of Alphabet by 1,919.4% during the 3rd quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock valued at $45,628,484,000 after acquiring an additional 453,413,389 shares during the period. State Street Corp grew its position in shares of Alphabet by 1,900.6% during the 3rd quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock valued at $20,770,809,000 after acquiring an additional 206,300,042 shares during the period. Moneta Group Investment Advisors LLC grew its position in shares of Alphabet by 111,197.8% during the 4th 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 acquiring an additional 170,267,122 shares during the period. Geode Capital Management LLC grew its position in shares of Alphabet by 1.3% during the 1st 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 acquiring an additional 1,499,107 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Alphabet by 1,759.2% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock valued at $11,106,502,000 after acquiring an additional 109,870,525 shares during the period. 35.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. KeyCorp dropped their target price on shares of Alphabet from $155.00 to $153.00 and set an “overweight” rating for the company in a report on Wednesday, October 25th. Mizuho upped their target price on shares of Alphabet from $135.00 to $155.00 in a report on Wednesday, July 26th. StockNews.com downgraded shares of Alphabet from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 14th. Sanford C. Bernstein upped their target price on shares of Alphabet from $130.00 to $135.00 in a report on Wednesday, July 26th. Finally, Piper Sandler upped their target price on shares of Alphabet from $147.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, October 25th. Five research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $147.00.

Insider Activity

In other Alphabet news, SVP Prabhakar Raghavan sold 16,083 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were 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 legal filing with the SEC, which is available through this hyperlink. In related news, Director Kavitark Ram Shriram sold 75,000 shares of the business’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 transaction, the director now directly owns 104,364 shares in the company, valued at $13,681,076.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Prabhakar Raghavan sold 16,083 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $133.82, for a total transaction of $2,152,227.06. Following the transaction, the senior vice president now owns 75,621 shares of the company’s stock, valued at $10,119,602.22. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 176,576 shares of company stock worth $23,425,367. Corporate insiders own 0.88% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $136.25 on Tuesday. The firm has a market cap of $1.71 trillion, a PE ratio of 26.15, a price-to-earnings-growth ratio of 1.51 and a beta of 1.05. The firm’s 50 day simple moving average is $133.42 and its 200-day simple moving average is $127.88. Alphabet Inc. has a one year low of $84.86 and a one year high of $141.22. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.01 and a current ratio of 2.04.

Alphabet (NASDAQ:GOOGL) last issued 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. The business had revenue of $64.05 billion for the quarter, compared to analyst estimates of $63.13 billion. Alphabet had a net margin of 22.46% and a return on equity of 25.24%. As a group, equities analysts predict that Alphabet Inc. will post 5.74 EPS for the current 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.