Cardano Risk Management B.V. Increases Position in Alphabet Inc. $GOOGL

Key Points

• Cardano Risk Management B.V. increased its holdings in Alphabet Inc. by 24.5% in Q2, now owning approximately $333.7 million worth of shares, making it their 6th biggest holding.
• Insider activity at Alphabet saw significant sales, with CAO Amie Thuener O'toole selling 2,778 shares valued at $680,610 and an insider, John Kent Walker, selling 23,820 shares for $4.6 million.
• Analysts have set new price targets for Alphabet, with Morgan Stanley at $270.00 and Moffett Nathanson at $295.00, supporting a consensus rating of "Moderate Buy".

Cardano Risk Management B.V. raised its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 24.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,880,941 shares of the information services provider's stock after acquiring an additional 369,666 shares during the quarter. Alphabet accounts for about 4.3% of Cardano Risk Management B.V.'s portfolio, making the stock its 6th biggest holding. Cardano Risk Management B.V.'s holdings in Alphabet were worth $333,660,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Guardian Wealth Management Inc. raised its holdings in Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after buying an additional 119 shares during the period. von Borstel & Associates Inc. acquired a new position in shares of Alphabet in the first quarter worth about $28,000. IMA Advisory Services Inc. purchased a new position in shares of Alphabet in the first quarter worth approximately $28,000. NBZ Investment Advisors LLC raised its holdings in shares of Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock valued at $30,000 after acquiring an additional 90 shares during the period. Finally, Financial Gravity Asset Management Inc. acquired a new stake in shares of Alphabet during the first quarter valued at approximately $39,000. 40.03% of the stock is currently owned by institutional investors.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O'toole sold 2,778 shares of Alphabet stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the sale, the chief accounting officer directly owned 17,293 shares in the company, valued at $4,236,785. The trade was a 13.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the sale, the insider directly owned 42,999 shares of the company's stock, valued at $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 246,150 shares of company stock valued at $55,805,379. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Price Performance

GOOGL opened at $253.30 on Monday. The stock has a fifty day moving average price of $231.55 and a 200 day moving average price of $192.14. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $256.96. The stock has a market cap of $3.06 trillion, a price-to-earnings ratio of 26.98, a PEG ratio of 1.71 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.16. The company had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on GOOGL. Susquehanna raised their price objective on shares of Alphabet from $220.00 to $225.00 and gave the stock a "positive" rating in a research note on Thursday, July 24th. Morgan Stanley set a $270.00 target price on Alphabet and gave the stock an "overweight" rating in a research report on Thursday, October 2nd. Moffett Nathanson lifted their price target on Alphabet from $230.00 to $295.00 and gave the company a "buy" rating in a report on Thursday, September 25th. Stifel Nicolaus upped their price target on Alphabet from $200.00 to $218.00 and gave the company a "buy" rating in a research report on Tuesday, July 22nd. Finally, JMP Securities raised their price objective on Alphabet from $250.00 to $290.00 and gave the stock a "market outperform" rating in a research report on Friday, September 19th. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of "Moderate Buy" and an average price target of $252.24.

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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