GAM Holding AG Has $3.78 Million Position in Alphabet Inc. $GOOG

GAM Holding AG reduced its holdings in Alphabet Inc. (NASDAQ:GOOG) by 12.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 21,306 shares of the information services provider’s stock after selling 3,030 shares during the period. GAM Holding AG’s holdings in Alphabet were worth $3,779,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of GOOG. Brighton Jones LLC increased its stake in shares of Alphabet by 5.6% during the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock worth $22,901,000 after purchasing an additional 6,410 shares during the last quarter. Smart Money Group LLC boosted its holdings in shares of Alphabet by 24.6% during the 1st quarter. Smart Money Group LLC now owns 2,186 shares of the information services provider’s stock worth $342,000 after buying an additional 432 shares during the period. Impax Asset Management Group plc boosted its holdings in shares of Alphabet by 2.2% during the 1st quarter. Impax Asset Management Group plc now owns 33,291 shares of the information services provider’s stock worth $5,201,000 after buying an additional 725 shares during the period. Capital Investment Advisory Services LLC boosted its holdings in shares of Alphabet by 1.8% during the 1st quarter. Capital Investment Advisory Services LLC now owns 77,915 shares of the information services provider’s stock worth $12,173,000 after buying an additional 1,378 shares during the period. Finally, Truist Financial Corp boosted its holdings in shares of Alphabet by 0.8% during the 1st quarter. Truist Financial Corp now owns 3,611,862 shares of the information services provider’s stock worth $564,281,000 after buying an additional 30,326 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GOOG has been the subject of several research analyst reports. DA Davidson set a $825.00 target price on shares of Alphabet in a report on Monday, October 27th. Oppenheimer lifted their target price on shares of Alphabet from $300.00 to $345.00 and gave the stock an “outperform” rating in a report on Thursday. Scotiabank set a $336.00 target price on shares of Alphabet and gave the stock a “sector outperform” rating in a report on Thursday. Barclays lifted their target price on shares of Alphabet from $250.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Rosenblatt Securities set a $279.00 target price on shares of Alphabet in a report on Thursday. Five research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $324.81.

Insider Activity at Alphabet

In other news, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $242.92, for a total transaction of $145,752.00. Following the completion of the sale, the director owned 5,116 shares of the company’s stock, valued at approximately $1,242,778.72. This represents a 10.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the sale, the chief executive officer directly owned 2,369,619 shares of the company’s stock, valued at approximately $592,760,192.85. This trade represents a 1.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 222,330 shares of company stock worth $51,167,625 in the last 90 days. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of Alphabet stock opened at $281.82 on Monday. The company has a 50 day moving average of $244.59 and a 200-day moving average of $201.30. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $291.93. 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 company has a market cap of $3.41 trillion, a PE ratio of 27.79, a price-to-earnings-growth ratio of 1.86 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The company had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. During the same quarter in the prior year, the firm posted $2.12 EPS. The firm’s quarterly revenue was up 15.9% on a year-over-year basis. As a group, equities research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal 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.