Alphabet Inc. $GOOG Shares Acquired by Bleakley Financial Group LLC

Bleakley Financial Group LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOG) by 1.4% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 170,020 shares of the information services provider’s stock after buying an additional 2,304 shares during the quarter. Bleakley Financial Group LLC’s holdings in Alphabet were worth $30,160,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of GOOG. Kingstone Capital Partners Texas LLC grew its stake in shares of Alphabet by 580,897.4% in the second quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock worth $23,963,208,000 after acquiring an additional 135,064,454 shares in the last quarter. Nuveen LLC acquired a new position in shares of Alphabet during the first quarter worth $2,622,943,000. Vanguard Group Inc. grew its stake in shares of Alphabet by 2.4% during the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock worth $64,299,725,000 after purchasing an additional 9,687,855 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Alphabet by 9.9% during the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock worth $15,971,861,000 after purchasing an additional 9,243,959 shares in the last quarter. Finally, Strs Ohio acquired a new position in shares of Alphabet during the first quarter worth $369,713,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on GOOG shares. Scotiabank reiterated an “outperform” rating and set a $310.00 target price on shares of Alphabet in a research note on Thursday, October 16th. Morgan Stanley boosted their target price on shares of Alphabet from $210.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, October 2nd. Barclays reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. JPMorgan Chase & Co. boosted their price target on shares of Alphabet from $232.00 to $260.00 and gave the company an “overweight” rating in a research report on Wednesday, September 3rd. Finally, Raymond James Financial set a $275.00 price target on shares of Alphabet and gave the company an “outperform” rating in a research report on Friday. Six analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $249.68.

Insiders Place Their Bets

In related news, insider John Kent Walker sold 17,816 shares of the stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the transaction, the insider directly owned 42,985 shares of the company’s stock, valued at $10,635,348.70. This represents a 29.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director John L. Hennessy sold 600 shares of the stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $242.92, for a total transaction of $145,752.00. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 246,150 shares of company stock valued at $55,805,379. 12.99% of the stock is owned by insiders.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $260.51 on Friday. The company has a 50-day simple moving average of $237.33 and a 200-day simple moving average of $196.66. Alphabet Inc. has a one year low of $142.66 and a one year high of $262.51. 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 stock has a market capitalization of $3.15 trillion, a price-to-earnings ratio of 27.74, a PEG ratio of 1.76 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.67 billion. During the same period in the prior year, the company earned $1.89 earnings per share. The business’s revenue was up 13.8% compared to the same quarter last year. On average, analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

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