Alphabet Inc. $GOOGL Shares Purchased by Concord Asset Management LLC VA

Concord Asset Management LLC VA increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 6.5% in the 2nd quarter, HoldingsChannel reports. The firm owned 31,236 shares of the information services provider’s stock after purchasing an additional 1,910 shares during the period. Alphabet makes up 0.8% of Concord Asset Management LLC VA’s investment portfolio, making the stock its 28th biggest position. Concord Asset Management LLC VA’s holdings in Alphabet were worth $5,505,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of GOOGL. Vanguard Group Inc. lifted its holdings in Alphabet by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock worth $78,839,544,000 after buying an additional 14,307,345 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Alphabet by 11.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock worth $6,783,364,000 after buying an additional 4,473,901 shares during the last quarter. Invesco Ltd. lifted its holdings in Alphabet by 1.4% during the 1st quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider’s stock worth $6,749,806,000 after buying an additional 593,345 shares during the last quarter. Deutsche Bank AG lifted its holdings in Alphabet by 1.9% during the 1st quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider’s stock worth $6,153,481,000 after buying an additional 727,335 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Alphabet by 0.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider’s stock worth $5,962,389,000 after buying an additional 104,859 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Up 0.6%

Alphabet stock opened at $253.08 on Friday. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $257.33. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The company has a market capitalization of $3.06 trillion, a P/E ratio of 26.95, a PEG ratio of 1.70 and a beta of 1.00. The stock has a 50-day simple moving average of $235.60 and a 200-day simple moving average of $194.45.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.16. The business had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Equities research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have issued reports on GOOGL shares. UBS Group reaffirmed a “neutral” rating on shares of Alphabet in a report on Wednesday. Phillip Securities downgraded Alphabet from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, September 8th. Moffett Nathanson lifted their price target on Alphabet from $230.00 to $295.00 and gave the stock a “buy” rating in a report on Thursday, September 25th. Rosenblatt Securities lifted their price target on Alphabet from $191.00 to $224.00 and gave the stock a “neutral” rating in a report on Wednesday, September 3rd. Finally, Wells Fargo & Company set a $236.00 price target on Alphabet and gave the stock an “equal weight” rating in a report on Tuesday, October 7th. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $259.12.

Insider Activity

In other Alphabet news, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $242.92, for a total transaction of $145,752.00. Following the completion of the sale, the director directly owned 5,116 shares of the company’s stock, valued at $1,242,778.72. This represents a 10.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frances Arnold sold 103 shares of the company’s stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total value of $25,042.39. Following the sale, the director directly owned 17,284 shares of the company’s stock, valued at approximately $4,202,258.92. This represents a 0.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 246,150 shares of company stock worth $55,805,379 over the last quarter. 11.64% of the stock is owned by insiders.

Alphabet 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, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.