Chapin Davis Inc. Grows Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Chapin Davis Inc. boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 1.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,961 shares of the information services provider’s stock after purchasing an additional 707 shares during the period. Alphabet makes up 2.3% of Chapin Davis Inc.’s portfolio, making the stock its 5th largest position. Chapin Davis Inc.’s holdings in Alphabet were worth $6,959,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Christopher J. Hasenberg Inc boosted its holdings in Alphabet by 75.0% during the 2nd 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 first quarter valued at approximately $30,000. Kings Path Partners LLC bought a new position in shares of Alphabet in the second quarter worth approximately $36,000. Denver PWM LLC purchased a new position in shares of Alphabet in the second quarter worth $41,000. Finally, CarsonAllaria Wealth Management Ltd. raised its holdings in Alphabet by 59.2% during the 1st 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 last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Price Performance

NASDAQ GOOGL opened at $165.46 on Wednesday. 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 $161.63 and a 200 day moving average of $168.07. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The company has a market capitalization of $2.04 trillion, a price-to-earnings ratio of 25.38, a PEG ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last announced its quarterly 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. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. During the same period in the previous year, the business posted $1.44 earnings per share. On average, sell-side analysts forecast that Alphabet Inc. will post 7.64 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GOOGL. Morgan Stanley cut their price target on shares of Alphabet from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. TD Securities boosted their price target on Alphabet from $200.00 to $220.00 in a report on Wednesday, July 10th. Mizuho upped their price target on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Argus lifted their price objective on Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Finally, Royal Bank of Canada upped their target price on Alphabet from $200.00 to $204.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Eight investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $201.13.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $164.95, for a total value of $247,425.00. Following the transaction, the director now directly owns 26,324 shares in the company, valued at $4,342,143.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total transaction of $230,804.28. Following the completion of the sale, the chief accounting officer now directly owns 29,183 shares in the company, valued at $4,927,257.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $164.95, for a total transaction of $247,425.00. Following the sale, the director now directly owns 26,324 shares of the company’s stock, valued at $4,342,143.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 197,926 shares of company stock valued at $32,251,590. Company insiders own 11.55% of the company’s stock.

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, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.