Terra Nova Asset Management LLC grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 1.6% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 32,470 shares of the information services provider’s stock after buying an additional 508 shares during the quarter. Alphabet accounts for 3.5% of Terra Nova Asset Management LLC’s investment portfolio, making the stock its 3rd largest holding. Terra Nova Asset Management LLC’s holdings in Alphabet were worth $3,887,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of GOOGL. Bornite Capital Management LP acquired a new position in shares of Alphabet during the 1st quarter worth $16,688,000. Markel Corp grew its stake in shares of Alphabet by 17.0% during the 1st quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock worth $43,110,000 after purchasing an additional 2,250 shares during the period. United Bank grew its stake in shares of Alphabet by 5.9% during the 1st quarter. United Bank now owns 2,033 shares of the information services provider’s stock worth $5,654,000 after purchasing an additional 113 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Alphabet by 23.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock worth $900,929,000 after purchasing an additional 61,427 shares during the period. Finally, Dakota Wealth Management grew its stake in shares of Alphabet by 20.4% during the 1st quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock worth $25,806,000 after purchasing an additional 1,570 shares during the period. Hedge funds and other institutional investors own 35.08% of the company’s stock.
Analyst Ratings Changes
GOOGL has been the topic of a number of recent analyst reports. UBS Group cut shares of Alphabet from a “buy” rating to a “neutral” rating and upped their price target for the stock from $123.00 to $132.00 in a research note on Monday, June 26th. StockNews.com assumed coverage on shares of Alphabet in a research note on Thursday, October 5th. They set a “buy” rating on the stock. KeyCorp increased their price objective on shares of Alphabet from $140.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, July 26th. Jefferies Financial Group increased their price objective on shares of Alphabet from $150.00 to $165.00 in a research note on Wednesday, July 26th. Finally, Loop Capital increased their price objective on shares of Alphabet from $125.00 to $140.00 and gave the company a “hold” rating in a research note on Friday, August 18th. Four research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $144.00.
Insider Activity at Alphabet
In related news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $139.93, for a total value of $27,986.00. Following the transaction, the director now owns 7,384 shares in the company, valued at $1,033,243.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Ann Mather sold 220 shares of Alphabet stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $121.75, for a total transaction of $26,785.00. Following the sale, the director now owns 4,759 shares in the company, valued at $579,408.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $139.93, for a total transaction of $27,986.00. Following the sale, the director now owns 7,384 shares in the company, valued at approximately $1,033,243.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 101,291 shares of company stock worth $13,555,462. Company insiders own 0.88% of the company’s stock.
Alphabet Trading Down 0.3 %
Shares of GOOGL stock opened at $138.06 on Wednesday. The firm has a market cap of $1.74 trillion, a P/E ratio of 29.25, a PEG ratio of 1.58 and a beta of 1.06. Alphabet Inc. has a 1-year low of $83.34 and a 1-year high of $139.72. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.17 and a quick ratio of 2.14. The firm’s 50-day simple moving average is $132.88 and its 200-day simple moving average is $122.24.
Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its quarterly earnings data on Tuesday, July 25th. The information services provider reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.12. Alphabet had a net margin of 21.05% and a return on equity of 23.49%. The business had revenue of $74.60 billion for the quarter, compared to analyst estimates of $60.24 billion. During the same period in the prior year, the firm posted $1.21 EPS. As a group, equities analysts forecast that Alphabet Inc. will post 5.68 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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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