Concord Asset Management LLC VA Increases Holdings in Alphabet Inc. $GOOGL

Concord Asset Management LLC VA increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 6.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 31,236 shares of the information services provider's stock after buying an additional 1,910 shares during the quarter. Alphabet comprises 0.8% of Concord Asset Management LLC VA's holdings, making the stock its 28th largest position. Concord Asset Management LLC VA's holdings in Alphabet were worth $5,505,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Guardian Wealth Management Inc. lifted its position in Alphabet by 242.9% during the first 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 in the last quarter. IMA Advisory Services Inc. purchased a new position in Alphabet during the first quarter worth approximately $28,000. von Borstel & Associates Inc. purchased a new position in Alphabet during the first quarter worth approximately $28,000. NBZ Investment Advisors LLC lifted its position in Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock worth $30,000 after buying an additional 90 shares in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. lifted its position in Alphabet by 36.4% during the second quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider's stock worth $44,000 after buying an additional 67 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total value of $8,129,875.00. Following the completion of the sale, the chief executive officer directly owned 2,369,619 shares of the company's stock, valued at approximately $592,760,192.85. The trade was a 1.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O'toole sold 2,778 shares of the business's stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total value of $694,638.90. Following the transaction, the chief accounting officer directly owned 14,516 shares of the company's stock, valued at $3,629,725.80. The trade was a 16.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 246,150 shares of company stock valued at $55,805,379. Insiders own 11.64% of the company's stock.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of a number of analyst reports. Barclays lifted their price objective on Alphabet from $235.00 to $250.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 3rd. BNP Paribas Exane lifted their target price on Alphabet from $187.00 to $247.00 and gave the company a "neutral" rating in a research report on Tuesday. Citigroup lifted their target price on Alphabet from $225.00 to $280.00 and gave the company a "buy" rating in a research report on Monday, September 15th. Melius Research lifted their target price on Alphabet from $220.00 to $255.00 in a research report on Thursday, September 25th. Finally, Wall Street Zen downgraded Alphabet from a "buy" rating to a "hold" rating in a research report on Sunday, September 21st. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, Alphabet currently has a consensus rating of "Moderate Buy" and an average price target of $259.12.

Alphabet Trading Up 0.6%

Shares of NASDAQ GOOGL opened at $253.08 on Friday. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $257.33. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a fifty day simple moving average of $235.60 and a 200-day simple moving average of $194.45. The stock has a market capitalization of $3.06 trillion, a PE ratio of 26.95, a PEG ratio of 1.70 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share 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 business had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.60 billion. On average, equities analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Company Profile

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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