Charles Schwab Trust Co Boosts Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Charles Schwab Trust Co lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 43.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,927 shares of the information services provider’s stock after acquiring an additional 2,112 shares during the period. Charles Schwab Trust Co’s holdings in Alphabet were worth $1,149,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Christopher J. Hasenberg Inc grew its position in Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 60 shares during the period. Tributary Capital Management LLC purchased a new stake in shares of Alphabet during the 1st quarter worth about $30,000. Kings Path Partners LLC purchased a new stake in shares of Alphabet during the 2nd quarter worth about $36,000. Denver PWM LLC acquired a new stake in Alphabet during the 2nd quarter worth approximately $41,000. Finally, CarsonAllaria Wealth Management Ltd. raised its holdings in Alphabet by 59.2% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after buying an additional 109 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on GOOGL. JPMorgan Chase & Co. increased their price objective on shares of Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Bank of America increased their price target on Alphabet from $200.00 to $206.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Needham & Company LLC restated a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research note on Tuesday, October 15th. Evercore ISI lowered their target price on Alphabet from $225.00 to $200.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Finally, Piper Sandler reissued an “overweight” rating and set a $200.00 price target on shares of Alphabet in a research report on Monday, September 30th. Eight equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $201.76.

Alphabet Trading Up 0.3 %

NASDAQ:GOOGL opened at $163.42 on Friday. Alphabet Inc. has a 12-month low of $120.21 and a 12-month high of $191.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The business has a 50 day simple moving average of $161.77 and a 200 day simple moving average of $168.16. The firm has a market capitalization of $2.02 trillion, a P/E ratio of 25.06, a P/E/G ratio of 1.21 and a beta of 1.04.

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

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the transaction, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at $5,264,112. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s 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 completion of the sale, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at $5,264,112. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the transaction, the chief executive officer now owns 2,182,385 shares in the company, valued at $354,310,204.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 220,426 shares of company stock worth $35,993,340. 11.55% of the stock is owned by company insiders.

Alphabet Company 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.