Alphabet Inc. $GOOGL Shares Purchased by Financial Management Network Inc.

Financial Management Network Inc. raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 10.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,830 shares of the information services provider’s stock after acquiring an additional 1,911 shares during the quarter. Financial Management Network Inc.’s holdings in Alphabet were worth $4,966,000 at the end of the most recent quarter.

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

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $283.48, for a total value of $9,213,100.00. Following the completion of the sale, the chief executive officer directly owned 2,337,119 shares of the company’s stock, valued at approximately $662,526,494.12. This represents a 1.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 transaction of $5,614,173.81. Following the transaction, the insider owned 42,972 shares in the company, valued at $13,531,453.08. This represents a 29.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 2,067,707 shares of company stock worth $103,627,383. 11.64% of the stock is currently owned by corporate insiders.

Alphabet Stock Down 0.1%

Shares of Alphabet stock 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. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $342.29. The business’s fifty day moving average price is $320.23 and its two-hundred day moving average price is $264.99. The company has a market capitalization of $4.08 trillion, a P/E ratio of 33.33, a PEG ratio of 1.86 and a beta of 1.08.

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

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on GOOGL shares. DZ Bank reaffirmed a “buy” rating on shares of Alphabet in a research report on Thursday, November 20th. Mizuho set a $365.00 target price on Alphabet and gave the company an “outperform” rating in a research note on Friday, January 9th. Deutsche Bank Aktiengesellschaft increased their price target on Alphabet from $340.00 to $370.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. Wall Street Zen raised Alphabet from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. Finally, Rosenblatt Securities boosted their price objective on Alphabet from $224.00 to $279.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. Four equities research analysts have rated the stock with a Strong Buy rating, forty-two have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $334.60.

Read Our Latest Stock Analysis on Alphabet

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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