Alphabet Inc. $GOOGL Shares Purchased by Commerzbank Aktiengesellschaft FI

Key Points

• Commerzbank Aktiengesellschaft FI increased its stake in Alphabet Inc. by 1.2%, now holding 1,692,280 shares valued at approximately $298 million, making it the second largest position in their portfolio.
• Alphabet reported earnings of $2.31 per share for the latest quarter, surpassing analyst expectations and achieving a revenue of $96.43 billion, also above projections.
• Several analysts have raised their price targets for Alphabet, with Jefferies Financial Group setting a new target at $285.00 and maintaining a "buy" rating.

Commerzbank Aktiengesellschaft FI boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,692,280 shares of the information services provider's stock after purchasing an additional 20,439 shares during the period. Alphabet comprises 6.8% of Commerzbank Aktiengesellschaft FI's holdings, making the stock its 2nd largest position. Commerzbank Aktiengesellschaft FI's holdings in Alphabet were worth $298,231,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. WMG Financial Advisors LLC lifted its holdings in shares of Alphabet by 1.6% in the second quarter. WMG Financial Advisors LLC now owns 6,182 shares of the information services provider's stock valued at $1,089,000 after purchasing an additional 95 shares in the last quarter. Stiles Financial Services Inc raised its position in Alphabet by 4.5% in the 2nd quarter. Stiles Financial Services Inc now owns 28,496 shares of the information services provider's stock valued at $5,022,000 after buying an additional 1,218 shares during the last quarter. McKinley Carter Wealth Services Inc. lifted its stake in Alphabet by 3.2% in the 2nd quarter. McKinley Carter Wealth Services Inc. now owns 80,297 shares of the information services provider's stock valued at $14,151,000 after acquiring an additional 2,479 shares in the last quarter. Coordinated Financial Services Inc. bought a new stake in Alphabet in the 2nd quarter valued at approximately $412,000. Finally, Stonebridge Financial Group LLC boosted its position in Alphabet by 5.5% during the 2nd quarter. Stonebridge Financial Group LLC now owns 39,601 shares of the information services provider's stock worth $6,979,000 after acquiring an additional 2,060 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $253.30 on Monday. The business's 50 day moving average price is $231.55 and its two-hundred day moving average price is $192.14. The company has a market cap of $3.06 trillion, a PE ratio of 26.98, a price-to-earnings-growth ratio of 1.71 and a beta of 1.00. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $256.96.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.60 billion. On average, analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Melius Research lifted their price objective on shares of Alphabet from $220.00 to $255.00 in a report on Thursday, September 25th. Jefferies Financial Group raised their target price on shares of Alphabet from $230.00 to $285.00 and gave the company a "buy" rating in a research report on Thursday, October 2nd. Hsbc Global Res raised shares of Alphabet to a "strong-buy" rating in a research report on Tuesday, October 7th. Weiss Ratings restated a "buy (b)" rating on shares of Alphabet in a research note on Wednesday, October 8th. Finally, Rosenblatt Securities raised their price objective on Alphabet from $191.00 to $224.00 and gave the company a "neutral" rating in a report on Wednesday, September 3rd. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $252.24.

Insider Buying and Selling at Alphabet

In other news, insider John Kent Walker sold 17,816 shares of the firm's stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the sale, the insider owned 42,985 shares in the company, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Frances Arnold sold 103 shares of Alphabet stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total transaction of $25,042.39. Following the sale, the director directly owned 17,284 shares of the company's stock, valued at $4,202,258.92. The trade was a 0.59% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 246,150 shares of company stock worth $55,805,379. 11.55% of the stock is currently owned by corporate insiders.

About Alphabet

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.

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