Alphabet Inc. $GOOGL Shares Acquired by MinichMacGregor Wealth Management LLC

MinichMacGregor Wealth Management LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 2,128.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 46,672 shares of the information services provider’s stock after buying an additional 44,578 shares during the quarter. Alphabet makes up approximately 2.2% of MinichMacGregor Wealth Management LLC’s portfolio, making the stock its 15th biggest position. MinichMacGregor Wealth Management LLC’s holdings in Alphabet were worth $11,346,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of GOOGL. Breakwater Investment Management grew its position in Alphabet by 1.0% during the third quarter. Breakwater Investment Management now owns 4,228 shares of the information services provider’s stock worth $1,028,000 after buying an additional 41 shares during the period. Wealth Alliance Advisory Group LLC lifted its position in shares of Alphabet by 1.0% in the third quarter. Wealth Alliance Advisory Group LLC now owns 4,045 shares of the information services provider’s stock valued at $983,000 after acquiring an additional 41 shares in the last quarter. Clearview Wealth Advisors LLC lifted its holdings in Alphabet by 3.3% in the 3rd quarter. Clearview Wealth Advisors LLC now owns 1,281 shares of the information services provider’s stock valued at $312,000 after purchasing an additional 41 shares in the last quarter. Fonville Wealth Management LLC lifted its stake in shares of Alphabet by 0.7% during the third quarter. Fonville Wealth Management LLC now owns 6,078 shares of the information services provider’s stock valued at $1,478,000 after buying an additional 41 shares during the period. Finally, Kooman & Associates lifted its stake in shares of Alphabet by 3.3% during the 3rd quarter. Kooman & Associates now owns 1,343 shares of the information services provider’s stock worth $326,000 after purchasing an additional 43 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $312.30, for a total value of $867,569.40. Following the transaction, the chief accounting officer owned 8,962 shares of the company’s stock, valued at $2,798,832.60. This trade represents a 23.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 17,829 shares of the firm’s stock in a transaction that occurred on Tuesday, December 30th. The shares were sold at an average price of $314.89, for a total value of $5,614,173.81. Following the completion of the sale, the insider directly owned 42,972 shares in the company, valued at $13,531,453.08. This trade represents a 29.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 2,067,707 shares of company stock valued at $103,627,383. Insiders own 11.64% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on GOOGL shares. Daiwa Capital Markets lifted their price target on shares of Alphabet from $233.00 to $333.00 and gave the company a “buy” rating in a report on Thursday, November 6th. President Capital raised their target price on Alphabet from $258.00 to $323.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Citizens Jmp lifted their price target on shares of Alphabet from $340.00 to $385.00 and gave the stock a “market outperform” rating in a research note on Wednesday, December 31st. Needham & Company LLC restated a “buy” rating and set a $330.00 price objective on shares of Alphabet in a research note on Monday, January 26th. Finally, Mizuho set a $365.00 price objective on shares of Alphabet and gave the stock an “outperform” rating in a report on Friday, January 9th. Four investment analysts have rated the stock with a Strong Buy rating, forty-two have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $334.60.

View Our Latest Stock Report on Alphabet

Alphabet Stock Performance

GOOGL opened at $338.00 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.75. The company has a market capitalization of $4.08 trillion, a price-to-earnings ratio of 33.33, a price-to-earnings-growth ratio of 1.86 and a beta of 1.08. The business has a 50 day moving average price of $320.23 and a two-hundred day moving average price of $264.99. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $342.29.

Alphabet (NASDAQ:GOOGLGet Free Report) last issued its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. The firm had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. Research analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Key Headlines Impacting Alphabet

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Alphabet Profile

(Free Report)

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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