Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Agate Pass Investment Management LLC

Agate Pass Investment Management LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 44,805 shares of the information services provider’s stock after selling 1,612 shares during the period. Alphabet comprises approximately 3.7% of Agate Pass Investment Management LLC’s investment portfolio, making the stock its 6th biggest position. Agate Pass Investment Management LLC’s holdings in Alphabet were worth $7,431,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. SG Americas Securities LLC increased its holdings in Alphabet by 587.4% in the third quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock valued at $1,772,991,000 after purchasing an additional 9,135,056 shares during the period. Capital Research Global Investors increased its holdings in Alphabet by 14.4% in the first quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock valued at $8,724,251,000 after purchasing an additional 7,275,757 shares during the period. Wulff Hansen & CO. increased its holdings in Alphabet by 18,810.2% in the second quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock valued at $807,700,000 after purchasing an additional 4,410,811 shares during the period. PineStone Asset Management Inc. increased its holdings in Alphabet by 143.7% in the second quarter. PineStone Asset Management Inc. now owns 7,072,197 shares of the information services provider’s stock valued at $1,288,201,000 after purchasing an additional 4,170,229 shares during the period. Finally, Vanguard Group Inc. increased its holdings in Alphabet by 0.8% in the first quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock valued at $75,144,172,000 after purchasing an additional 4,064,073 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on GOOGL shares. TD Securities increased their price objective on Alphabet from $200.00 to $220.00 in a report on Wednesday, July 10th. Evercore ISI cut their price target on shares of Alphabet from $225.00 to $200.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Tigress Financial lifted their price objective on Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research report on Thursday, September 26th. Wedbush restated an “outperform” rating and set a $205.00 target price on shares of Alphabet in a research report on Thursday, September 5th. Finally, Bank of America raised their target price on Alphabet from $200.00 to $206.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Eight analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $201.76.

Alphabet Stock Up 0.3 %

Alphabet stock opened at $163.42 on Friday. Alphabet Inc. has a fifty-two week low of $120.21 and a fifty-two week high of $191.75. The stock has a market cap of $2.02 trillion, a PE ratio of 25.06, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The firm’s 50-day simple moving average is $161.77 and its 200 day simple moving average is $168.06. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. During the same period in the previous year, the company earned $1.44 earnings per share. Research analysts predict that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total value of $3,741,750.00. Following the sale, the chief executive officer now owns 2,106,806 shares of the company’s stock, valued at approximately $350,361,837.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the sale, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the completion of the sale, the chief executive officer now directly owns 2,106,806 shares in the company, valued at approximately $350,361,837.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 220,426 shares of company stock worth $35,993,340. 11.55% of the stock is owned by insiders.

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.