Alphabet Inc. (NASDAQ:GOOGL) Shares Acquired by Parnassus Investments LLC

Parnassus Investments LLC increased its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 0.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,336,589 shares of the information services provider’s stock after purchasing an additional 130,202 shares during the quarter. Alphabet accounts for about 4.0% of Parnassus Investments LLC’s holdings, making the stock its 2nd largest holding. Parnassus Investments LLC owned 0.11% of Alphabet worth $1,716,090,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Live Oak Investment Partners purchased a new stake in Alphabet during the 4th quarter worth approximately $26,000. Armor Investment Advisors LLC purchased a new stake in Alphabet during the 2nd quarter worth approximately $28,000. Sanctuary Wealth Management L.L.C. purchased a new stake in Alphabet during the 4th quarter worth approximately $34,000. Turim 21 Investimentos Ltda. purchased a new stake in Alphabet during the 3rd quarter worth approximately $38,000. Finally, IAG Wealth Partners LLC increased its stake in Alphabet by 100.0% during the 1st quarter. IAG Wealth Partners LLC now owns 400 shares of the information services provider’s stock worth $41,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 35.08% of the company’s stock.

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Alphabet Stock Down 0.1 %

Alphabet stock opened at $122.17 on Friday. Alphabet Inc. has a 1-year low of $83.34 and a 1-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 stock has a market cap of $1.54 trillion, a PE ratio of 23.45, a P/E/G ratio of 1.39 and a beta of 1.06. The stock’s fifty day moving average is $134.24 and its two-hundred day moving average is $124.76.

Insider Buying and Selling at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 16,083 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $133.82, for a total value of $2,152,227.06. Following the sale, the senior vice president now directly owns 75,621 shares in the company, valued at $10,119,602.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Alphabet news, insider John Kent Walker sold 42,900 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $136.51, for a total transaction of $5,856,279.00. Following the transaction, the insider now owns 10,383 shares of the company’s stock, valued at $1,417,383.33. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Prabhakar Raghavan sold 16,083 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $133.82, for a total value of $2,152,227.06. Following the transaction, the senior vice president now directly owns 75,621 shares in the company, valued at approximately $10,119,602.22. The disclosure for this sale can be found here. Insiders have sold a total of 100,901 shares of company stock worth $13,507,312 over the last ninety days. Corporate insiders own 0.88% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Susquehanna reiterated a “positive” rating and set a $150.00 price objective on shares of Alphabet in a research note on Thursday, August 31st. Stifel Nicolaus upped their price target on Alphabet from $130.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, July 21st. Monness Crespi & Hardt lowered Alphabet from a “buy” rating to a “neutral” rating in a research report on Wednesday. Wolfe Research upped their price target on Alphabet from $130.00 to $140.00 in a research report on Monday, July 10th. Finally, StockNews.com initiated coverage on Alphabet in a research report on Thursday, October 5th. They issued a “buy” rating for the company. Five investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $146.91.

Read Our Latest Research Report 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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