DAVENPORT & Co LLC lifted its stake in shares of Alphabet Inc (NASDAQ:GOOG) by 20.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,737 shares of the information services provider’s stock after buying an additional 9,207 shares during the quarter. DAVENPORT & Co LLC’s holdings in Alphabet were worth $78,972,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the company. Chelsea Counsel Co. boosted its holdings in Alphabet by 6.4% in the first quarter. Chelsea Counsel Co. now owns 4,759 shares of the information services provider’s stock worth $5,534,000 after purchasing an additional 285 shares during the period. Verition Fund Management LLC acquired a new position in Alphabet in the second quarter worth $11,845,000. Adams Asset Advisors LLC acquired a new position in Alphabet in the second quarter worth $1,484,000. Telemus Capital LLC boosted its holdings in Alphabet by 2.6% in the second quarter. Telemus Capital LLC now owns 7,909 shares of the information services provider’s stock worth $12,193,000 after purchasing an additional 198 shares during the period. Finally, Mercer Global Advisors Inc. ADV boosted its holdings in Alphabet by 11.9% in the first quarter. Mercer Global Advisors Inc. ADV now owns 7,487 shares of the information services provider’s stock worth $8,706,000 after purchasing an additional 798 shares during the period. 32.42% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have commented on GOOG shares. Mizuho lifted their price objective on shares of Alphabet from $1,650.00 to $1,750.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. Stifel Nicolaus downgraded shares of Alphabet from a “buy” rating to a “hold” rating in a report on Friday, July 31st. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Alphabet from $1,975.00 to $2,020.00 and gave the stock a “buy” rating in a report on Monday, October 12th. Oppenheimer lifted their price objective on shares of Alphabet from $1,445.00 to $1,685.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Finally, Credit Suisse Group reiterated a “buy” rating on shares of Alphabet in a research note on Friday, July 31st. Four research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $1,703.33.

In other Alphabet news, Director Ann Mather sold 22 shares of the business’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $1,484.27, for a total value of $32,653.94. Following the sale, the director now directly owns 1,134 shares in the company, valued at $1,683,162.18. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 60 shares of the business’s stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $1,473.43, for a total transaction of $88,405.80. Following the completion of the sale, the director now owns 548 shares in the company, valued at $807,439.64. The disclosure for this sale can be found here. Over the last quarter, insiders sold 142 shares of company stock worth $213,357. 12.99% of the stock is owned by company insiders.

Shares of NASDAQ GOOG opened at $1,573.01 on Friday. Alphabet Inc has a fifty-two week low of $1,013.54 and a fifty-two week high of $1,733.18. The firm’s 50-day simple moving average is $1,525.61 and its 200 day simple moving average is $1,436.75. The company has a quick ratio of 3.40, a current ratio of 3.41 and a debt-to-equity ratio of 0.02. The stock has a market cap of $1,069.90 billion, a P/E ratio of 34.59, a P/E/G ratio of 2.16 and a beta of 1.10.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, July 30th. The information services provider reported $10.13 EPS for the quarter, topping the consensus estimate of $8.43 by $1.70. Alphabet had a net margin of 18.99% and a return on equity of 15.62%. The firm had revenue of $31.60 billion for the quarter, compared to analysts’ expectations of $30.58 billion. On average, sell-side analysts anticipate that Alphabet Inc will post 44.84 earnings per share for the current fiscal year.

Alphabet Company Profile

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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