Sigma Planning Corp Increases Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Sigma Planning Corp increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 6.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 87,716 shares of the information services provider's stock after acquiring an additional 5,328 shares during the period. Sigma Planning Corp's holdings in Alphabet were worth $13,564,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Harbour Trust & Investment Management Co raised its position in shares of Alphabet by 0.3% during the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock valued at $4,187,000 after acquiring an additional 80 shares in the last quarter. Rockbridge Capital Management LLC acquired a new stake in shares of Alphabet during the 4th quarter valued at approximately $3,119,000. Cypress Capital LLC raised its position in shares of Alphabet by 4.1% during the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock valued at $2,213,000 after acquiring an additional 563 shares in the last quarter. Optivise Advisory Services LLC raised its position in shares of Alphabet by 8.0% during the 4th quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider's stock valued at $1,035,000 after acquiring an additional 403 shares in the last quarter. Finally, Community Bank N.A. raised its position in shares of Alphabet by 6.4% during the 4th quarter. Community Bank N.A. now owns 46,173 shares of the information services provider's stock valued at $8,741,000 after acquiring an additional 2,790 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

Analyst Ratings Changes

GOOGL has been the subject of a number of analyst reports. Truist Financial restated a "buy" rating and set a $200.00 price objective on shares of Alphabet in a research report on Wednesday, July 2nd. Citigroup boosted their price objective on Alphabet from $203.00 to $225.00 and gave the company a "buy" rating in a research report on Thursday. Rosenblatt Securities boosted their price objective on Alphabet from $189.00 to $191.00 and gave the company a "neutral" rating in a research report on Thursday. Barclays boosted their price objective on Alphabet from $220.00 to $235.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, Sanford C. Bernstein boosted their price objective on Alphabet from $185.00 to $195.00 and gave the company a "market perform" rating in a research report on Tuesday. Ten investment 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's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $211.32.

Insider Buying and Selling

In related news, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction that occurred 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 of the company's stock, valued at $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 400 shares of the stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $181.98, for a total value of $72,792.00. Following the completion of the transaction, the director owned 6,013 shares in the company, valued at approximately $1,094,245.74. The trade was a 6.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold 249,409 shares of company stock valued at $43,523,710 over the last 90 days. Company insiders own 11.64% of the company's stock.

Alphabet Trading Up 0.4%

Shares of Alphabet stock traded up $0.81 on Friday, hitting $192.98. The stock had a trading volume of 13,100,900 shares, compared to its average volume of 36,861,688. The stock has a 50 day moving average of $175.23 and a 200 day moving average of $173.10. Alphabet Inc. has a twelve month low of $140.53 and a twelve month 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 firm has a market capitalization of $2.34 trillion, a P/E ratio of 20.55, a PEG ratio of 1.33 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 31.12% and a return on equity of 35.22%. The firm had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same quarter last year, the business earned $1.89 EPS. Sell-side analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet 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.