Griffin Asset Management Inc. Has $5.03 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Griffin Asset Management Inc. decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 30,321 shares of the information services provider’s stock after selling 103 shares during the period. Griffin Asset Management Inc.’s holdings in Alphabet were worth $5,029,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in GOOGL. Riverview Trust Co boosted its position in shares of Alphabet by 3.2% during the 1st quarter. Riverview Trust Co now owns 7,758 shares of the information services provider’s stock worth $1,171,000 after acquiring an additional 240 shares in the last quarter. Mechanics Bank Trust Department boosted its position in Alphabet by 1.9% in the first quarter. Mechanics Bank Trust Department now owns 133,661 shares of the information services provider’s stock valued at $20,173,000 after buying an additional 2,430 shares in the last quarter. West Coast Financial LLC boosted its position in Alphabet by 1.9% in the first quarter. West Coast Financial LLC now owns 134,101 shares of the information services provider’s stock valued at $20,240,000 after buying an additional 2,437 shares in the last quarter. Fermata Advisors LLC boosted its position in Alphabet by 36.8% in the first quarter. Fermata Advisors LLC now owns 5,809 shares of the information services provider’s stock valued at $877,000 after buying an additional 1,563 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC boosted its position in Alphabet by 2.7% in the first quarter. Dynamic Advisor Solutions LLC now owns 142,098 shares of the information services provider’s stock valued at $21,447,000 after buying an additional 3,708 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Price Performance

NASDAQ GOOGL opened at $162.72 on Friday. Alphabet Inc. has a one year low of $120.21 and a one year high of $191.75. The stock has a 50-day moving average of $161.87 and a 200 day moving average of $168.40. The company has a market capitalization of $2.01 trillion, a price-to-earnings ratio of 24.96, a PEG ratio of 1.21 and a beta of 1.04. 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 announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. During the same period last year, the firm posted $1.44 earnings per share. On average, sell-side analysts forecast that Alphabet Inc. will post 7.64 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on GOOGL. JPMorgan Chase & Co. raised their target price on shares of Alphabet from $200.00 to $208.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Evercore ISI dropped their price target on shares of Alphabet from $225.00 to $200.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Needham & Company LLC reaffirmed a “buy” rating and set a $210.00 price target on shares of Alphabet in a research note on Tuesday, October 15th. Mizuho lifted their target price on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Finally, Loop Capital reissued a “hold” rating and set a $170.00 target price on shares of Alphabet in a research note on Wednesday, July 3rd. Eight analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $201.76.

Insider Activity

In related news, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the completion of the transaction, the chief executive officer now owns 2,182,385 shares in the company, valued at $354,310,204.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 owns 312,210 shares of the company’s stock, valued at $50,765,346. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 220,426 shares of company stock valued at $35,993,340 in the last ninety days. Corporate insiders own 11.55% of the company’s stock.

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.