16,539 Shares in Alphabet Inc. $GOOGL Bought by Greg Jennings LLC

Key Points

• Greg Jennings LLC bought 16,539 Alphabet shares worth approximately $5.7 million in the third quarter, making Alphabet its ninth-largest holding and 3.8% of its portfolio.
• Other institutional investors also increased their Alphabet positions, with institutional and hedge-fund ownership reaching 40.03% of the stock.
• Analysts maintain a broadly positive outlook, with a consensus “Buy” rating and average price target of $425.04, despite shares opening at $324.22 and declining 3.1%.

Greg Jennings LLC bought a new position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 16,539 shares of the information services provider's stock, valued at approximately $5,691,000. Alphabet comprises about 3.8% of Greg Jennings LLC's investment portfolio, making the stock its 9th largest holding.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Abel Hall LLC boosted its position in shares of Alphabet by 6.3% during the 3rd quarter. Abel Hall LLC now owns 20,770 shares of the information services provider's stock valued at $7,147,000 after acquiring an additional 1,230 shares during the last quarter. Lifelong Wealth Advisors Inc. grew its holdings in shares of Alphabet by 4.6% in the third quarter. Lifelong Wealth Advisors Inc. now owns 1,988 shares of the information services provider's stock valued at $684,000 after purchasing an additional 87 shares during the period. RWQ Financial Management Services Inc. increased its position in Alphabet by 38.1% during the third quarter. RWQ Financial Management Services Inc. now owns 36,460 shares of the information services provider's stock worth $12,545,000 after purchasing an additional 10,059 shares during the last quarter. James Hambro & Partners LLP increased its position in Alphabet by 11.4% during the third quarter. James Hambro & Partners LLP now owns 43,716 shares of the information services provider's stock worth $15,046,000 after purchasing an additional 4,461 shares during the last quarter. Finally, Richards Merrill & Peterson Inc. increased its position in Alphabet by 8.6% during the third quarter. Richards Merrill & Peterson Inc. now owns 27,870 shares of the information services provider's stock worth $9,590,000 after purchasing an additional 2,208 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on GOOGL shares. UBS Group reaffirmed a "neutral" rating and set a $380.00 target price (up from $379.00) on shares of Alphabet in a research note on Wednesday, October 14th. DA Davidson set a $350.00 price target on shares of Alphabet and gave the company a "neutral" rating in a research note on Thursday, July 23rd. Evercore reissued an "outperform" rating and issued a $450.00 price target on shares of Alphabet in a research note on Wednesday, September 16th. Tigress Financial restated a "strong-buy" rating and set a $485.00 price target (up from $415.00) on shares of Alphabet in a report on Thursday, September 17th. Finally, Piper Sandler raised their price target on shares of Alphabet from $395.00 to $400.00 and gave the stock an "overweight" rating in a report on Monday, September 28th. Five analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $425.04.

Alphabet Stock Down 3.1%

Shares of NASDAQ:GOOGL opened at $324.22 on Friday. The company has a market capitalization of $3.97 trillion, a price-to-earnings ratio of 16.81, a PEG ratio of 0.97 and a beta of 1.21. Alphabet Inc. has a 12-month low of $251.85 and a 12-month high of $408.61. The business has a 50-day moving average price of $343.31 and a 200 day moving average price of $353.04. The company has a current ratio of 2.72, a quick ratio of 2.64 and a debt-to-equity ratio of 0.16.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The information services provider reported $9.11 EPS for the quarter, beating analysts' consensus estimates of $2.89 by $6.22. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. The company had revenue of $119.80 billion for the quarter, compared to analysts' expectations of $117.07 billion. Sell-side analysts expect that Alphabet Inc. will post 20.60 EPS for the current year.

Insiders Place Their Bets

In other Alphabet news, CAO Marsida Saraci sold 449 shares of Alphabet stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $333.20, for a total transaction of $149,606.80. Following the completion of the sale, the chief accounting officer directly owned 27,386 shares in the company, valued at $9,125,015.20. This trade represents a 1.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frances Arnold sold 83 shares of the business's stock in a transaction that occurred on Wednesday, September 30th. The shares were sold at an average price of $340.45, for a total transaction of $28,257.35. Following the completion of the sale, the director directly owned 19,076 shares in the company, valued at $6,494,424.20. This trade represents a 0.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 315,765 shares of company stock valued at $6,297,980 over the last 90 days. 11.61% of the stock is owned by company insiders.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google Cloud and AI demand remain key bullish factors. Coverage highlights accelerating Google Cloud growth, expanding demand for AI infrastructure, and Alphabet’s Gemini models and in-house chips as potential drivers of future revenue and margins. OpenAI’s decision to make its models available through Google Cloud could also increase enterprise cloud usage. OpenAI to bring AI models to Google's cloud
• Positive Sentiment: Some analysts see substantial upside. Bullish commentary points to strong search and cloud fundamentals, a lower valuation than many large technology peers, and potential upside if Alphabet demonstrates that AI spending is translating into durable growth. TikTok’s reported shift of advertising toward YouTube may provide an additional, though smaller, benefit. Alphabet could still have room to run
• Positive Sentiment: Citizens JMP maintained an outperform rating. The firm lowered its price target from $515 to $450, but the revised target still implies considerable potential appreciation from current levels. Banking giant cuts Google stock price target

Alphabet Company Profile

Alphabet Inc is a technology holding company best known for its Google subsidiary. Google operates a global internet-services business centered on online search, digital advertising, YouTube, Android, Chrome, Google Maps, Google Play, and a broad range of cloud-based productivity and collaboration tools.

Google Cloud provides infrastructure, data analytics, cybersecurity, artificial intelligence, and enterprise software services to businesses, governments, and other organizations. Alphabet also develops consumer hardware, including Pixel devices and products for connected homes, while investing in emerging businesses through its “Other Bets” segment, including autonomous transportation and life sciences initiatives.

Alphabet was established in 2015 as part of a corporate restructuring that made Google a subsidiary and provided a separate structure for its expanding portfolio of businesses.

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