Penn Davis Mcfarland Inc. Boosts Stake in Alphabet Inc. (NASDAQ:GOOGL)

Penn Davis Mcfarland Inc. lifted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 171,979 shares of the information services provider’s stock after purchasing an additional 194 shares during the period. Alphabet comprises about 3.2% of Penn Davis Mcfarland Inc.’s investment portfolio, making the stock its 11th largest position. Penn Davis Mcfarland Inc.’s holdings in Alphabet were worth $28,523,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of GOOGL. SG Americas Securities LLC increased its holdings in Alphabet by 587.4% during the third quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock valued at $1,772,991,000 after buying an additional 9,135,056 shares during the period. Capital Research Global Investors increased its stake in 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 valued at $8,724,251,000 after purchasing an additional 7,275,757 shares in the last quarter. Wulff Hansen & CO. raised its stake in Alphabet by 18,810.2% in the 2nd quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock worth $807,700,000 after acquiring an additional 4,410,811 shares during the last quarter. PineStone Asset Management Inc. boosted its position in Alphabet by 143.7% in the second quarter. PineStone Asset Management Inc. now owns 7,072,197 shares of the information services provider’s stock valued at $1,288,201,000 after buying an additional 4,170,229 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of 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 purchasing an additional 4,064,073 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GOOGL has been the subject of several recent research reports. Jefferies Financial Group lifted their target price on shares of Alphabet from $215.00 to $220.00 in a report on Tuesday, July 9th. JMP Securities upped their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company a “market outperform” rating in a research note on Wednesday. Piper Sandler reissued an “overweight” rating and issued a $210.00 price objective (up previously from $200.00) on shares of Alphabet in a report on Wednesday. The Goldman Sachs Group lowered their price target on Alphabet from $217.00 to $208.00 and set a “buy” rating for the company in a report on Monday, October 14th. Finally, TD Securities raised their price target on Alphabet from $200.00 to $220.00 in a research report on Wednesday, July 10th. Seven investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $205.51.

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the sale, the chief executive officer now directly owns 2,106,806 shares in the company, valued at approximately $350,361,837.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the sale, the senior vice president now directly owns 312,210 shares in the company, valued at approximately $50,765,346. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total value of $3,741,750.00. Following the sale, the chief executive officer now owns 2,106,806 shares of the company’s stock, valued at approximately $350,361,837.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 220,426 shares of company stock valued at $35,993,340 in the last ninety days. 11.55% of the stock is currently owned by company insiders.

Alphabet Stock Up 2.8 %

Shares of NASDAQ:GOOGL opened at $174.46 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. Alphabet Inc. has a 1-year low of $122.68 and a 1-year high of $191.75. The firm has a fifty day moving average price of $162.17 and a 200 day moving average price of $168.78. The stock has a market cap of $2.16 trillion, a P/E ratio of 26.76, a P/E/G ratio of 1.27 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter last year, the business earned $1.55 EPS. Sell-side analysts predict that Alphabet Inc. will post 7.65 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.