Probity Advisors Inc. Purchases 292 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Probity Advisors Inc. grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,707 shares of the information services provider’s stock after buying an additional 292 shares during the period. Probity Advisors Inc.’s holdings in Alphabet were worth $1,278,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Alphabet by 0.8% during the first quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock worth $75,144,172,000 after buying an additional 4,064,073 shares in the last quarter. Capital Research Global Investors grew its holdings in shares of Alphabet by 14.4% during the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock worth $8,724,251,000 after purchasing an additional 7,275,757 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Alphabet by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock worth $9,011,412,000 after purchasing an additional 238,403 shares in the last quarter. Capital World Investors increased its position in shares of Alphabet by 1.7% in the first quarter. Capital World Investors now owns 35,412,299 shares of the information services provider’s stock worth $5,344,778,000 after purchasing an additional 597,756 shares during the period. Finally, American Century Companies Inc. raised its stake in Alphabet by 1.8% in the second quarter. American Century Companies Inc. now owns 23,465,190 shares of the information services provider’s stock valued at $4,274,184,000 after purchasing an additional 418,204 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the sale, the chief accounting officer now owns 31,334 shares in the company, valued at $5,264,112. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the transaction, the senior vice president now owns 312,210 shares in the company, valued at approximately $50,765,346. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the sale, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 220,426 shares of company stock worth $35,993,340. 11.55% of the stock is owned by corporate insiders.

Alphabet Stock Performance

GOOGL stock opened at $165.27 on Friday. The firm has a market cap of $2.03 trillion, a PE ratio of 23.71, a price-to-earnings-growth ratio of 1.27 and a beta of 1.04. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock has a 50-day moving average price of $161.95 and a 200-day moving average price of $168.51. Alphabet Inc. has a 1-year low of $120.21 and a 1-year high of $191.75.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on GOOGL shares. Roth Mkm reissued a “buy” rating and issued a $206.00 target price on shares of Alphabet in a report on Thursday, August 29th. Wells Fargo & Company decreased their price objective on shares of Alphabet from $190.00 to $182.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 2nd. The Goldman Sachs Group lowered their price objective on shares of Alphabet from $217.00 to $208.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Wedbush reaffirmed an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a report on Thursday. Finally, Guggenheim boosted their price target on Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Seven research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $201.76.

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.