Atomi Financial Group Inc. Has $13.86 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Atomi Financial Group Inc. grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 83,548 shares of the information services provider’s stock after acquiring an additional 1,101 shares during the period. Alphabet accounts for approximately 0.9% of Atomi Financial Group Inc.’s investment portfolio, making the stock its 25th biggest holding. Atomi Financial Group Inc.’s holdings in Alphabet were worth $13,856,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SG Americas Securities LLC grew its stake in shares of Alphabet by 587.4% in the 3rd 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 buying an additional 9,135,056 shares during the period. Capital Research Global Investors grew its stake 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 acquiring an additional 7,275,757 shares during the period. Wulff Hansen & CO. raised its position in shares of Alphabet by 18,810.2% during the second quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock worth $807,700,000 after purchasing an additional 4,410,811 shares during the period. PineStone Asset Management Inc. grew its position in Alphabet by 143.7% in the 2nd 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. grew its holdings in shares of Alphabet by 0.8% during 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 buying an additional 4,064,073 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Trading Down 0.2 %

NASDAQ GOOGL opened at $165.16 on Thursday. The stock has a 50-day moving average of $161.76 and a 200-day moving average of $168.05. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 1-year low of $120.21 and a 1-year high of $191.75. The firm has a market cap of $2.04 trillion, a PE ratio of 25.33, a price-to-earnings-growth 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, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. During the same quarter in the prior year, the firm posted $1.44 earnings per share. As a group, sell-side analysts forecast that Alphabet Inc. will post 7.64 EPS for the current year.

Wall Street Analyst Weigh In

GOOGL has been the topic of several analyst reports. JMP Securities reaffirmed a “market outperform” rating and set a $200.00 target price on shares of Alphabet in a research report on Wednesday, September 25th. Pivotal Research raised shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, October 1st. The Goldman Sachs Group reduced their target price on Alphabet from $217.00 to $208.00 and set a “buy” rating for the company in a report on Monday. Morgan Stanley dropped their price target on Alphabet from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. Finally, Wolfe Research started coverage on Alphabet in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 price objective for the company. Eight 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 company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $201.76.

Insiders Place Their Bets

In related news, SVP Prabhakar Raghavan sold 34,257 shares of the company’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 transaction of $5,570,188.20. Following the completion of the transaction, the senior vice president now owns 312,210 shares in the company, valued at $50,765,346. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the transaction, the senior vice president now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on 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 directly owns 31,334 shares in the company, valued at approximately $5,264,112. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 220,426 shares of company stock worth $35,993,340. 11.55% of the stock is currently owned by company insiders.

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.