Stiles Financial Services Inc Increases Stock Position in Alphabet Inc. $GOOGL

Stiles Financial Services Inc increased its holdings in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 6.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,457 shares of the information services provider’s stock after buying an additional 1,961 shares during the period. Alphabet accounts for 2.3% of Stiles Financial Services Inc’s holdings, making the stock its 7th largest position. Stiles Financial Services Inc’s holdings in Alphabet were worth $7,404,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Tranquility Partners LLC raised its holdings in Alphabet by 3.9% in the 3rd quarter. Tranquility Partners LLC now owns 22,753 shares of the information services provider’s stock valued at $5,531,000 after acquiring an additional 864 shares in the last quarter. Avidian Wealth Enterprises LLC increased its position in shares of Alphabet by 11.5% in the third quarter. Avidian Wealth Enterprises LLC now owns 35,027 shares of the information services provider’s stock worth $8,515,000 after purchasing an additional 3,609 shares during the period. Rakuten Investment Management Inc. acquired a new position in Alphabet in the third quarter valued at about $1,184,000. Cornerstone Wealth Group LLC raised its stake in Alphabet by 1.3% in the third quarter. Cornerstone Wealth Group LLC now owns 95,875 shares of the information services provider’s stock valued at $23,307,000 after purchasing an additional 1,251 shares in the last quarter. Finally, Berkeley Inc lifted its position in Alphabet by 0.9% during the third quarter. Berkeley Inc now owns 39,580 shares of the information services provider’s stock worth $9,622,000 after purchasing an additional 335 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Activity

In related news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, January 21st. The shares were sold at an average price of $327.30, for a total value of $10,637,250.00. Following the sale, the chief executive officer owned 2,211,872 shares of the company’s stock, valued at $723,945,705.60. The trade was a 1.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 933 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $336.55, for a total value of $314,001.15. Following the transaction, the chief accounting officer directly owned 9,916 shares of the company’s stock, valued at approximately $3,337,229.80. This represents a 8.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 2,035,186 shares of company stock worth $94,458,941. Company insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $339.71 on Wednesday. The stock’s 50-day moving average is $321.05 and its 200-day moving average is $268.37. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $349.00. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06. The stock has a market cap of $4.10 trillion, a P/E ratio of 33.50, a price-to-earnings-growth ratio of 2.08 and a beta of 1.09.

Analysts Set New Price Targets

Several brokerages have recently commented on GOOGL. Wells Fargo & Company restated a “positive” rating and issued a $350.00 target price (up from $268.00) on shares of Alphabet in a research report on Monday, January 12th. New Street Research lifted their price objective on shares of Alphabet from $275.00 to $295.00 in a research note on Friday, October 24th. Guggenheim reissued a “buy” rating and set a $375.00 price target (up previously from $330.00) on shares of Alphabet in a report on Monday, December 1st. Raymond James Financial upgraded Alphabet from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, January 22nd. Finally, Hsbc Global Res raised shares of Alphabet to a “strong-buy” rating in a report on Tuesday, October 7th. Four equities research analysts have rated the stock with a Strong Buy rating, forty-two have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $336.60.

Read Our Latest Research Report on GOOGL

More Alphabet News

Here are the key news stories impacting Alphabet this week:

Alphabet Profile

(Free Report)

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

See Also

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGLFree Report).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.