M3 Advisory Group LLC Increases Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

M3 Advisory Group LLC raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.4% in the 4th quarter, Holdings Channel reports. The firm owned 20,031 shares of the information services provider’s stock after purchasing an additional 81 shares during the quarter. Alphabet accounts for 2.7% of M3 Advisory Group LLC’s holdings, making the stock its 9th biggest holding. M3 Advisory Group LLC’s holdings in Alphabet were worth $3,792,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in GOOGL. LMR Partners LLP purchased a new stake in shares of Alphabet in the 3rd quarter worth $32,000. Denver PWM LLC lifted its stake in Alphabet by 25.4% in the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after acquiring an additional 57 shares during the period. Quarry LP bought a new position in Alphabet during the 2nd quarter worth about $53,000. Teachers Insurance & Annuity Association of America purchased a new position in Alphabet during the 3rd quarter valued at about $66,000. Finally, Mendota Financial Group LLC raised its holdings in shares of Alphabet by 19.0% in the 3rd quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock valued at $67,000 after purchasing an additional 64 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Trading Up 1.6 %

Shares of NASDAQ:GOOGL opened at $204.02 on Friday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12-month low of $130.66 and a 12-month high of $205.48. The business has a 50 day moving average of $188.97 and a two-hundred day moving average of $174.15. The company has a market capitalization of $2.50 trillion, a PE ratio of 27.06, a PEG ratio of 1.26 and a beta of 0.98.

Insider Activity

In other news, Director Frances Arnold sold 441 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $171.06, for a total transaction of $75,437.46. Following the sale, the director now directly owns 16,490 shares in the company, valued at $2,820,779.40. This trade represents a 2.60 % 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, CAO Amie Thuener O’toole sold 2,834 shares of Alphabet stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $197.55, for a total value of $559,856.70. Following the completion of the transaction, the chief accounting officer now owns 20,681 shares of the company’s stock, valued at approximately $4,085,531.55. This represents a 12.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 121,630 shares of company stock valued at $22,258,133 in the last three months. 11.55% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Royal Bank of Canada lifted their price objective on shares of Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Bank of America reissued a “buy” rating and issued a $210.00 price target on shares of Alphabet in a research report on Monday, December 23rd. Sanford C. Bernstein upped their price objective on Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Roth Mkm lifted their target price on Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Nine analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $211.00.

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.