Czech National Bank Grows Stake in Alphabet Inc. (NASDAQ:GOOGL)

Czech National Bank grew its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 703,296 shares of the information services provider’s stock after acquiring an additional 1,785 shares during the quarter. Alphabet accounts for 1.9% of Czech National Bank’s portfolio, making the stock its 5th biggest holding. Czech National Bank’s holdings in Alphabet were worth $84,185,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently modified their holdings of the business. DC Investments Management LLC bought a new position in shares of Alphabet in the 1st quarter worth $114,000. Bridgefront Capital LLC acquired a new position in shares of Alphabet in the 1st quarter valued at about $225,000. Worth Asset Management LLC acquired a new position in shares of Alphabet in the 1st quarter valued at about $206,000. Eudaimonia Advisors LLC raised its holdings in Alphabet by 15.1% in the 1st quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock worth $275,000 after purchasing an additional 13 shares during the period. Finally, Aspire Capital Advisors LLC acquired a new position in shares of Alphabet during the first quarter valued at approximately $281,000. Hedge funds and other institutional investors own 35.08% of the company’s stock.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 3,749 shares of Alphabet stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $136.28, for a total value of $510,913.72. Following the transaction, the chief accounting officer now directly owns 25,568 shares in the company, valued at $3,484,407.04. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CAO Amie Thuener O’toole sold 3,749 shares of the business’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $136.28, for a total transaction of $510,913.72. Following the transaction, the chief accounting officer now directly owns 25,568 shares in the company, valued at $3,484,407.04. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 31,240 shares of the business’s stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $116.82, for a total transaction of $3,649,456.80. Following the sale, the director now directly owns 5,364 shares in the company, valued at approximately $626,622.48. The disclosure for this sale can be found here. Insiders have sold 96,092 shares of company stock worth $12,221,941 in the last ninety days. 0.88% of the stock is owned by corporate insiders.

Alphabet Trading Up 0.6 %

GOOGL stock opened at $138.21 on Tuesday. The firm has a market cap of $1.74 trillion, a P/E ratio of 29.28, a PEG ratio of 1.59 and a beta of 1.06. Alphabet Inc. has a 52-week low of $83.34 and a 52-week high of $139.16. The company’s 50-day simple moving average is $129.60 and its 200-day simple moving average is $117.88. The company has a quick ratio of 2.14, a current ratio of 2.17 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.12. Alphabet had a net margin of 21.05% and a return on equity of 23.49%. The business had revenue of $74.60 billion during the quarter, compared to the consensus estimate of $60.24 billion. During the same quarter last year, the firm earned $1.21 EPS. As a group, equities analysts forecast that Alphabet Inc. will post 5.68 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GOOGL has been the subject of several research analyst reports. KeyCorp raised their price target on Alphabet from $140.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 26th. Tigress Financial boosted their price target on Alphabet from $160.00 to $172.00 and gave the company a “strong-buy” rating in a report on Friday, July 14th. JMP Securities reissued a “market outperform” rating and set a $138.00 price objective on shares of Alphabet in a research note on Wednesday, August 30th. Loop Capital boosted their price objective on shares of Alphabet from $125.00 to $140.00 and gave the company a “hold” rating in a research note on Friday, August 18th. Finally, Sanford C. Bernstein boosted their price target on Alphabet from $130.00 to $135.00 in a research note on Wednesday, July 26th. Four analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $143.89.

Alphabet Company Profile

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