Ellenbecker Investment Group Invests $229,000 in Alphabet Inc. (NASDAQ:GOOGL)

Posted by on Oct 29th, 2023

Ellenbecker Investment Group acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,920 shares of the information services provider’s stock, valued at approximately $229,000.

Several other institutional investors and hedge funds also recently modified their holdings of GOOGL. Vanguard Group Inc. boosted its position in shares of Alphabet by 1,919.4% during the third quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock worth $45,628,484,000 after buying an additional 453,413,389 shares during the period. State Street Corp boosted its position in Alphabet by 1,900.6% during the third quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock valued at $20,770,809,000 after purchasing an additional 206,300,042 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its position in Alphabet by 111,197.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 170,420,243 shares of the information services provider’s stock valued at $15,036,178,000 after purchasing an additional 170,267,122 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Alphabet by 1,759.2% during the third quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock valued at $11,106,502,000 after purchasing an additional 109,870,525 shares during the last quarter. Finally, Norges Bank acquired a new position in Alphabet during the fourth quarter valued at approximately $8,335,063,000. 35.08% of the stock is owned by institutional investors and hedge funds.

Alphabet Price Performance

Alphabet stock opened at $122.17 on Friday. The stock’s fifty day moving average price is $134.24 and its two-hundred day moving average price is $124.76. Alphabet Inc. has a one year low of $83.34 and a one year high of $141.22. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.04 and a quick ratio of 2.14. The firm has a market cap of $1.54 trillion, a PE ratio of 23.45, a price-to-earnings-growth ratio of 1.39 and a beta of 1.06.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $131.14, for a total value of $26,228.00. Following the sale, the director now owns 5,340 shares of the company’s stock, valued at approximately $700,287.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Alphabet news, insider John Kent Walker sold 42,900 shares of the firm’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $136.51, for a total value of $5,856,279.00. Following the sale, the insider now owns 10,383 shares of the company’s stock, valued at approximately $1,417,383.33. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $131.14, for a total value of $26,228.00. Following the sale, the director now directly owns 5,340 shares in the company, valued at approximately $700,287.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 100,901 shares of company stock valued at $13,507,312. 0.88% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently commented on the company. Sanford C. Bernstein increased their price target on Alphabet from $130.00 to $135.00 in a research report on Wednesday, July 26th. JPMorgan Chase & Co. increased their price target on Alphabet from $121.00 to $150.00 in a research report on Wednesday, July 26th. Morgan Stanley reduced their price target on Alphabet from $155.00 to $150.00 and set an “overweight” rating for the company in a research report on Wednesday. The Goldman Sachs Group increased their price target on Alphabet from $132.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, July 17th. Finally, Bank of America increased their price target on Alphabet from $142.00 to $146.00 and gave the company a “buy” rating in a research report on Wednesday, October 4th. Five investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $146.91.

Check Out Our Latest Stock Analysis on Alphabet

Alphabet Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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