IPG Investment Advisors LLC Boosts Holdings in Alphabet Inc. (NASDAQ:GOOGL)

IPG Investment Advisors LLC increased its stake in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 33.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,244 shares of the information services provider’s stock after purchasing an additional 12,677 shares during the quarter. Alphabet accounts for 1.4% of IPG Investment Advisors LLC’s investment portfolio, making the stock its 20th largest position. IPG Investment Advisors LLC’s holdings in Alphabet were worth $6,575,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in GOOGL. DE Burlo Group Inc. raised its position in shares of Alphabet by 520.0% in the second quarter. DE Burlo Group Inc. now owns 96,498 shares of the information services provider’s stock valued at $11,551,000 after buying an additional 80,934 shares during the last quarter. Montag A & Associates Inc. raised its position in shares of Alphabet by 2.1% in the second quarter. Montag A & Associates Inc. now owns 129,511 shares of the information services provider’s stock valued at $15,502,000 after buying an additional 2,670 shares during the last quarter. EFG Asset Management North America Corp. raised its position in shares of Alphabet by 6.1% in the second quarter. EFG Asset Management North America Corp. now owns 38,124 shares of the information services provider’s stock valued at $4,564,000 after buying an additional 2,189 shares during the last quarter. West Tower Group LLC acquired a new position in shares of Alphabet in the second quarter valued at approximately $88,000. Finally, Fisher Asset Management LLC raised its position in shares of Alphabet by 1.4% in the second quarter. Fisher Asset Management LLC now owns 42,725,279 shares of the information services provider’s stock valued at $5,114,215,000 after buying an additional 579,305 shares during the last quarter. Hedge funds and other institutional investors own 35.08% of the company’s stock.

Insider Buying and Selling

In related news, insider John Kent Walker sold 48,076 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $142.20, for a total value of $6,836,407.20. Following the sale, the insider now owns 12,725 shares of the company’s stock, valued at approximately $1,809,495. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $141.43, for a total value of $3,182,175.00. Following the completion of the transaction, the chief executive officer now owns 2,407,688 shares in the company, valued at approximately $340,519,313.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Kent Walker sold 48,076 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $142.20, for a total transaction of $6,836,407.20. Following the completion of the transaction, the insider now owns 12,725 shares of the company’s stock, valued at approximately $1,809,495. The disclosure for this sale can be found here. Insiders have sold a total of 208,350 shares of company stock valued at $29,602,709 in the last quarter. Company insiders own 0.88% of the company’s stock.

Alphabet Stock Up 1.1 %

GOOGL stock opened at $144.09 on Friday. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a fifty-two week low of $88.57 and a fifty-two week high of $153.78. The firm’s 50-day simple moving average is $142.67 and its 200 day simple moving average is $136.51. The stock has a market cap of $1.80 trillion, a PE ratio of 24.84, a price-to-earnings-growth ratio of 1.30 and a beta of 1.06.

Alphabet (NASDAQ:GOOGLGet Free Report) last released its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The business had revenue of $86.31 billion for the quarter, compared to analysts’ expectations of $70.77 billion. During the same quarter last year, the company earned $1.05 EPS. As a group, sell-side analysts predict that Alphabet Inc. will post 6.77 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GOOGL. Wells Fargo & Company upped their price target on shares of Alphabet from $126.00 to $129.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 16th. Roth Mkm dropped their price target on shares of Alphabet from $166.00 to $164.00 and set a “buy” rating for the company in a research report on Wednesday, January 31st. Rosenblatt Securities dropped their price target on shares of Alphabet from $174.00 to $172.00 and set a “buy” rating for the company in a research report on Wednesday, January 31st. Mizuho boosted their price objective on shares of Alphabet from $155.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Finally, Wedbush reiterated an “outperform” rating and set a $160.00 price objective on shares of Alphabet in a research note on Wednesday, January 31st. Five research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $153.65.

Read Our Latest Analysis on GOOGL

Alphabet Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.