Laurel Wealth Advisors LLC Has $11.12 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

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Laurel Wealth Advisors LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 4.3% in the 1st quarter, Holdings Channel reports. The fund owned 3,997 shares of the information services provider’s stock after selling 179 shares during the quarter. Alphabet accounts for approximately 2.3% of Laurel Wealth Advisors LLC’s holdings, making the stock its 7th largest position. Laurel Wealth Advisors LLC’s holdings in Alphabet were worth $11,117,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in GOOGL. Norges Bank purchased a new stake in shares of Alphabet in the 4th quarter valued at about $14,477,662,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Alphabet in the 4th quarter valued at about $1,680,864,000. Fundsmith LLP purchased a new stake in shares of Alphabet in the 4th quarter valued at about $1,214,138,000. Invesco Ltd. raised its holdings in shares of Alphabet by 14.1% in the 4th quarter. Invesco Ltd. now owns 2,292,059 shares of the information services provider’s stock valued at $6,640,190,000 after acquiring an additional 283,907 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Alphabet by 1.4% in the 4th quarter. State Street Corp now owns 11,252,792 shares of the information services provider’s stock valued at $32,599,789,000 after acquiring an additional 157,280 shares in the last quarter. Institutional investors own 41.70% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, SVP Prabhakar Raghavan sold 490 shares of the business’s stock in a transaction dated Tuesday, May 3rd. The stock was sold at an average price of $2,335.30, for a total value of $1,144,297.00. Following the transaction, the senior vice president now directly owns 497 shares in the company, valued at $1,160,644.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Amie Thuener O’toole sold 42 shares of the business’s stock in a transaction dated Tuesday, May 3rd. The stock was sold at an average price of $2,335.30, for a total value of $98,082.60. Following the sale, the chief accounting officer now directly owns 1,170 shares in the company, valued at $2,732,301. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Prabhakar Raghavan sold 490 shares of the business’s stock in a transaction dated Tuesday, May 3rd. The stock was sold at an average price of $2,335.30, for a total value of $1,144,297.00. Following the completion of the sale, the senior vice president now owns 497 shares in the company, valued at $1,160,644.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,039 shares of company stock valued at $12,649,005. Company insiders own 11.44% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $114.22 on Friday. The stock has a 50-day simple moving average of $154.31 and a two-hundred day simple moving average of $138.90. Alphabet Inc. has a 52-week low of $101.88 and a 52-week high of $151.55. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.85 and a current ratio of 2.87. The firm has a market capitalization of $1.50 trillion, a PE ratio of 20.66, a P/E/G ratio of 1.12 and a beta of 1.10.

Alphabet (NASDAQ:GOOGLGet Rating) last released its quarterly earnings results on Tuesday, July 26th. The information services provider reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.11). Alphabet had a net margin of 27.57% and a return on equity of 30.18%. During the same period in the prior year, the business posted $27.26 EPS. Analysts forecast that Alphabet Inc. will post 5.37 EPS for the current year.

Analyst Upgrades and Downgrades

GOOGL has been the topic of several recent analyst reports. Moffett Nathanson lowered their price target on Alphabet to $132.50 in a report on Thursday, May 26th. Barclays reduced their price objective on Alphabet from $160.00 to $150.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 5th. Guggenheim reduced their price objective on Alphabet to $130.00 and set an “outperform” rating on the stock in a research report on Wednesday. Truist Financial reduced their price objective on Alphabet from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Susquehanna Bancshares reduced their price target on Alphabet from $187.50 to $150.00 and set a “positive” rating on the stock in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $148.80.

Alphabet Company Profile

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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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