Bleakley Financial Group LLC Purchases 9,970 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Bleakley Financial Group LLC raised its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 6.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 154,426 shares of the information services provider's stock after buying an additional 9,970 shares during the period. Alphabet makes up about 0.8% of Bleakley Financial Group LLC's holdings, making the stock its 27th biggest holding. Bleakley Financial Group LLC's holdings in Alphabet were worth $23,880,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. von Borstel & Associates Inc. bought a new stake in shares of Alphabet in the 1st quarter worth approximately $28,000. Financial Gravity Asset Management Inc. purchased a new stake in shares of Alphabet during the first quarter worth $39,000. Elite Financial Inc. acquired a new position in Alphabet in the 1st quarter worth about $42,000. Anderson Financial Strategies LLC acquired a new position in shares of Alphabet during the 4th quarter worth $49,000. Finally, EQ Wealth Advisors LLC acquired a new position in shares of Alphabet during the 1st quarter valued at about $49,000. 40.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the sale, the chief executive officer owned 2,527,392 shares in the company, valued at $466,000,536.96. This trade represents a 1.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the business's stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the sale, the director owned 243,400 shares in the company, valued at $45,213,984. This represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 249,409 shares of company stock valued at $43,523,710 over the last quarter. Corporate insiders own 11.64% of the company's stock.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of research analyst reports. UBS Group raised their target price on shares of Alphabet from $192.00 to $202.00 and gave the company a "neutral" rating in a research note on Thursday. KeyCorp raised their target price on Alphabet from $215.00 to $230.00 and gave the company an "overweight" rating in a report on Thursday. Bank of America raised their price objective on shares of Alphabet from $210.00 to $217.00 and gave the stock a "buy" rating in a research note on Thursday. Oppenheimer raised their price objective on shares of Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday, April 25th. Finally, Barclays raised their price target on shares of Alphabet from $220.00 to $235.00 and gave the stock an "overweight" rating in a research report on Thursday. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and a consensus price target of $209.61.

Alphabet Price Performance

GOOGL traded up $2.96 during trading on Thursday, reaching $193.19. The stock had a trading volume of 42,307,791 shares, compared to its average volume of 36,806,176. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The business has a 50-day moving average of $174.67 and a 200-day moving average of $173.13. The stock has a market cap of $2.34 trillion, a PE ratio of 21.55, a PEG ratio of 1.34 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. The business had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. During the same quarter last year, the firm earned $1.89 EPS. As a group, equities research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

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.