Alphabet Inc. (NASDAQ:GOOGL) Position Increased by Montag A & Associates Inc.

Montag A & Associates Inc. raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.1% in the second quarter, Holdings Channel.com reports. The institutional investor owned 129,511 shares of the information services provider’s stock after buying an additional 2,670 shares during the period. Alphabet comprises 1.0% of Montag A & Associates Inc.’s holdings, making the stock its 21st largest position. Montag A & Associates Inc.’s holdings in Alphabet were worth $15,502,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Ellevest Inc. lifted its stake in Alphabet by 16.5% during the second quarter. Ellevest Inc. now owns 32,591 shares of the information services provider’s stock valued at $3,901,000 after buying an additional 4,623 shares in the last quarter. Kennicott Capital Management LLC lifted its position in shares of Alphabet by 200.0% in the second quarter. Kennicott Capital Management LLC now owns 6,660 shares of the information services provider’s stock worth $266,000 after purchasing an additional 4,440 shares in the last quarter. Banque Cantonale Vaudoise lifted its position in shares of Alphabet by 16.6% in the second quarter. Banque Cantonale Vaudoise now owns 296,237 shares of the information services provider’s stock worth $35,462,000 after purchasing an additional 42,209 shares in the last quarter. Rock Creek Group LP lifted its position in shares of Alphabet by 4.6% in the second quarter. Rock Creek Group LP now owns 14,630 shares of the information services provider’s stock worth $1,751,000 after purchasing an additional 642 shares in the last quarter. Finally, Coastal Investment Advisors Inc. lifted its position in shares of Alphabet by 2.8% in the second quarter. Coastal Investment Advisors Inc. now owns 29,317 shares of the information services provider’s stock worth $3,509,000 after purchasing an additional 792 shares in the last quarter. 35.08% of the stock is owned by hedge funds and other institutional investors.

Alphabet Price Performance

Shares of GOOGL stock opened at $136.25 on Tuesday. The stock has a 50-day moving average price of $133.42 and a 200 day moving average price of $127.88. The company has a quick ratio of 2.01, a current ratio of 2.04 and a debt-to-equity ratio of 0.05. The firm has a market cap of $1.71 trillion, a price-to-earnings ratio of 26.15, a PEG ratio of 1.51 and a beta of 1.05. Alphabet Inc. has a 12 month low of $84.86 and a 12 month high of $141.22.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, October 24th. The information services provider reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.10. The firm had revenue of $64.05 billion during the quarter, compared to analyst estimates of $63.13 billion. Alphabet had a return on equity of 25.24% and a net margin of 22.46%. Research analysts expect that Alphabet Inc. will post 5.74 EPS for the current year.

Analyst Ratings Changes

GOOGL has been the subject of a number of research analyst reports. Truist Financial increased their price target on shares of Alphabet from $122.00 to $160.00 in a research report on Wednesday, July 26th. Sanford C. Bernstein raised their price objective on shares of Alphabet from $130.00 to $135.00 in a research note on Wednesday, July 26th. KeyCorp lowered their price objective on shares of Alphabet from $155.00 to $153.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 25th. Jefferies Financial Group raised their price objective on shares of Alphabet from $150.00 to $165.00 in a research note on Wednesday, July 26th. Finally, Susquehanna reaffirmed a “positive” rating and issued a $150.00 target price on shares of Alphabet in a research report on Thursday, August 31st. Five investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $147.00.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $137.30, for a total value of $27,460.00. Following the completion of the sale, the director now directly owns 7,584 shares in the company, valued at $1,041,283.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $137.30, for a total value of $27,460.00. Following the completion of the sale, the director now directly owns 7,584 shares in the company, valued at $1,041,283.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John Kent Walker sold 42,900 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 10,383 shares of the company’s stock, valued at $1,417,383.33. The disclosure for this sale can be found here. Insiders sold a total of 176,576 shares of company stock worth $23,425,367 over the last three months. 0.88% of the stock is currently owned by company 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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.