Carnegie Investment Counsel Has $70.20 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Carnegie Investment Counsel lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 423,320 shares of the information services provider’s stock after selling 407 shares during the period. Alphabet makes up about 2.1% of Carnegie Investment Counsel’s investment portfolio, making the stock its 8th largest position. Carnegie Investment Counsel’s holdings in Alphabet were worth $70,202,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Christopher J. Hasenberg Inc increased its position in Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after buying an additional 60 shares in the last quarter. Tributary Capital Management LLC bought a new position in shares of Alphabet during the 1st quarter valued at approximately $30,000. Kings Path Partners LLC purchased a new stake in Alphabet in the 2nd quarter worth approximately $36,000. Denver PWM LLC bought a new stake in Alphabet during the 2nd quarter worth approximately $41,000. Finally, CarsonAllaria Wealth Management Ltd. lifted its holdings in Alphabet by 59.2% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after purchasing an additional 109 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on GOOGL shares. Wells Fargo & Company decreased their price objective on shares of Alphabet from $190.00 to $182.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 2nd. Piper Sandler reissued an “overweight” rating and set a $200.00 price target on shares of Alphabet in a report on Monday, September 30th. Pivotal Research raised Alphabet to a “strong-buy” rating in a research note on Tuesday, October 1st. The Goldman Sachs Group decreased their target price on Alphabet from $217.00 to $208.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Finally, Loop Capital restated a “hold” rating and issued a $170.00 price target on shares of Alphabet in a research note on Wednesday, July 3rd. Eight equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $201.76.

Insiders Place Their Bets

In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the sale, the senior vice president now directly owns 312,210 shares in the company, valued at approximately $50,765,346. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the sale, the senior vice president now directly owns 312,210 shares in the company, valued at $50,765,346. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 2,835 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the transaction, the chief accounting officer now owns 29,182 shares in the company, valued at approximately $4,421,948.46. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 220,426 shares of company stock worth $35,993,340 in the last ninety days. 11.55% of the stock is owned by company insiders.

Alphabet Trading Up 0.3 %

GOOGL stock opened at $163.42 on Monday. Alphabet Inc. has a 12 month low of $120.21 and a 12 month high of $191.75. The firm’s 50-day moving average is $161.77 and its 200 day moving average is $168.25. The company has a market capitalization of $2.02 trillion, a PE ratio of 25.06, a P/E/G ratio of 1.21 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS 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 analyst estimates of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same period last year, the company posted $1.44 earnings per share. On average, research analysts anticipate that Alphabet Inc. will post 7.64 EPS for the current year.

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.