Beech Hill Advisors Inc. Grows Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Beech Hill Advisors Inc. increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 63,610 shares of the information services provider’s stock after acquiring an additional 1,035 shares during the period. Alphabet accounts for 4.0% of Beech Hill Advisors Inc.’s holdings, making the stock its 2nd largest position. Beech Hill Advisors Inc.’s holdings in Alphabet were worth $10,550,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also bought and sold shares of the stock. Henrickson Nauta Wealth Advisors Inc. increased its holdings in Alphabet by 2.1% during the 1st quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,274 shares of the information services provider’s stock valued at $511,000 after purchasing an additional 68 shares in the last quarter. CFM Wealth Partners LLC grew its stake in shares of Alphabet by 1.7% during the first quarter. CFM Wealth Partners LLC now owns 126,927 shares of the information services provider’s stock valued at $19,157,000 after purchasing an additional 2,169 shares during the last quarter. CIC Wealth LLC lifted its holdings in Alphabet by 2.7% during the 1st quarter. CIC Wealth LLC now owns 25,316 shares of the information services provider’s stock worth $3,821,000 after buying an additional 675 shares in the last quarter. Eagle Wealth Strategies LLC acquired a new stake in shares of Alphabet in the 1st quarter valued at $219,000. Finally, Elevated Capital Advisors LLC bought a new position in Alphabet in the first quarter valued at about $215,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the transaction, the chief accounting officer now owns 29,182 shares in the company, valued at $4,421,948.46. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the transaction, the senior vice president now owns 312,210 shares in the company, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the transaction, the chief accounting officer now directly owns 29,182 shares in the company, valued at approximately $4,421,948.46. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 220,426 shares of company stock worth $35,993,340. Company insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the topic of several recent research reports. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $190.00 target price on shares of Alphabet in a research note on Monday, October 7th. Morgan Stanley lowered their target price on shares of Alphabet from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Tuesday, September 3rd. Wells Fargo & Company cut their price target on Alphabet from $190.00 to $182.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 2nd. UBS Group lifted their price objective on Alphabet from $200.00 to $204.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Finally, JMP Securities reissued a “market outperform” rating and issued a $200.00 target price on shares of Alphabet in a research note on Wednesday, September 25th. Seven research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $201.76.

Alphabet Stock Up 1.6 %

GOOGL stock opened at $165.27 on Friday. Alphabet Inc. has a 1-year low of $120.21 and a 1-year high of $191.75. The firm has a market capitalization of $2.04 trillion, a PE ratio of 25.35, a PEG ratio of 1.21 and a beta of 1.04. The business’s 50 day simple moving average is $161.90 and its 200 day simple moving average is $168.36. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. During the same period in the prior year, the firm earned $1.44 EPS. As a group, research analysts anticipate that Alphabet Inc. will post 7.64 EPS for the current year.

Alphabet Company 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, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.