GFS Advisors LLC Increases Stake in Alphabet Inc. (NASDAQ:GOOG)

GFS Advisors LLC boosted its position in Alphabet Inc. (NASDAQ:GOOGFree Report) by 3.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 36,739 shares of the information services provider’s stock after buying an additional 1,183 shares during the quarter. GFS Advisors LLC’s holdings in Alphabet were worth $6,997,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Weiss Asset Management LP purchased a new stake in Alphabet during the third quarter valued at $25,000. Fiduciary Advisors Inc. purchased a new stake in shares of Alphabet during the 4th quarter valued at about $27,000. Safe Harbor Fiduciary LLC bought a new position in shares of Alphabet in the 3rd quarter worth approximately $33,000. Sanctuary Wealth Management L.L.C. boosted its holdings in shares of Alphabet by 87.3% in the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after buying an additional 117 shares during the last quarter. Finally, Iron Horse Wealth Management LLC grew its position in Alphabet by 32.3% during the third quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider’s stock valued at $57,000 after buying an additional 84 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $177.36, for a total value of $3,990,600.00. Following the completion of the sale, the chief executive officer now directly owns 2,084,306 shares in the company, valued at $369,672,512.16. This trade represents a 1.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,340 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the transaction, the chief accounting officer now owns 17,848 shares in the company, valued at $3,606,723.84. This trade represents a 6.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 122,529 shares of company stock valued at $22,453,483 over the last 90 days. 12.99% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on GOOG shares. Wells Fargo & Company lifted their price target on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Barclays upped their price target on Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price objective on Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, Canaccord Genuity Group increased their target price on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $209.13.

Read Our Latest Analysis on Alphabet

Alphabet Stock Performance

NASDAQ:GOOG opened at $202.64 on Tuesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The company has a market cap of $2.48 trillion, a price-to-earnings ratio of 26.88, a PEG ratio of 1.32 and a beta of 1.00. Alphabet Inc. has a 1 year low of $131.55 and a 1 year high of $207.08. The stock’s 50 day simple moving average is $190.48 and its two-hundred day simple moving average is $175.55.

About Alphabet

(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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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