Value Partners Investments Inc. Increases Position in Alphabet Inc. (NASDAQ:GOOGL)

Value Partners Investments Inc. lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 1,587.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 248,224 shares of the information services provider’s stock after buying an additional 233,517 shares during the quarter. Alphabet makes up about 1.2% of Value Partners Investments Inc.’s portfolio, making the stock its 14th biggest position. Value Partners Investments Inc.’s holdings in Alphabet were worth $41,168,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. New Hampshire Trust increased its position in shares of Alphabet by 2.7% during the second quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock worth $7,963,000 after acquiring an additional 1,132 shares during the period. Berkshire Money Management Inc. purchased a new position in Alphabet during the 1st quarter worth $359,000. Schneider Downs Wealth Management Advisors LP raised its position in Alphabet by 58.4% during the 1st quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider’s stock valued at $962,000 after purchasing an additional 2,351 shares in the last quarter. Sanders Morris Harris LLC purchased a new stake in shares of Alphabet in the 1st quarter worth $842,000. Finally, Trinity Financial Advisors LLC lifted its holdings in shares of Alphabet by 4.5% in the 3rd quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock worth $771,000 after buying an additional 190 shares during the period. 40.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. BMO Capital Markets decreased their price objective on Alphabet from $222.00 to $215.00 and set an “outperform” rating for the company in a report on Wednesday, October 9th. Mizuho increased their price objective on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Argus lifted their price objective on shares of Alphabet from $200.00 to $215.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Royal Bank of Canada upped their target price on Alphabet from $200.00 to $204.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Finally, DA Davidson initiated coverage on Alphabet in a report on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $201.13.

Alphabet Price Performance

Shares of GOOGL opened at $165.46 on Wednesday. The business’s 50-day moving average is $161.63 and its two-hundred day moving average is $168.07. The company has a market capitalization of $2.04 trillion, a P/E ratio of 25.38, a P/E/G ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a fifty-two week low of $120.21 and a fifty-two week high of $191.75. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. During the same period last year, the company earned $1.44 earnings per share. Research analysts predict that Alphabet Inc. will post 7.64 earnings per share for the current year.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total value of $230,804.28. Following the completion of the transaction, the chief accounting officer now owns 29,183 shares in the company, valued at approximately $4,927,257.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total value of $230,804.28. Following the completion of the sale, the chief accounting officer now directly owns 29,183 shares in the company, valued at $4,927,257.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Hennessy sold 700 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $165.00, for a total value of $115,500.00. Following the transaction, the director now directly owns 29,324 shares of the company’s stock, valued at approximately $4,838,460. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 197,926 shares of company stock valued at $32,251,590 in the last three months. 11.55% of the stock is currently owned by corporate 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.