Berbice Capital Management LLC Buys New Position in Alphabet Inc. (NASDAQ:GOOGL)

Berbice Capital Management LLC bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 30,765 shares of the information services provider's stock, valued at approximately $5,824,000. Alphabet makes up approximately 4.7% of Berbice Capital Management LLC's investment portfolio, making the stock its 6th largest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp boosted its holdings in Alphabet by 0.3% during the third quarter. State Street Corp now owns 222,555,548 shares of the information services provider's stock worth $36,910,838,000 after purchasing an additional 743,369 shares during the last quarter. Geode Capital Management LLC grew its stake in Alphabet by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider's stock worth $22,154,651,000 after buying an additional 2,626,431 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Alphabet by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider's stock valued at $10,559,240,000 after buying an additional 4,567,275 shares in the last quarter. Fisher Asset Management LLC lifted its stake in Alphabet by 2.5% in the third quarter. Fisher Asset Management LLC now owns 49,857,900 shares of the information services provider's stock worth $8,268,933,000 after purchasing an additional 1,237,385 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Alphabet by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 37,233,079 shares of the information services provider's stock worth $6,175,106,000 after purchasing an additional 523,416 shares during the last quarter. Institutional investors own 40.03% of the company's stock.

Analyst Ratings Changes

GOOGL has been the topic of a number of research reports. Cantor Fitzgerald cut their target price on shares of Alphabet from $215.00 to $210.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 22nd. Piper Sandler reissued an "overweight" rating and issued a $210.00 target price (up previously from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. Scotiabank raised shares of Alphabet to a "strong-buy" rating in a report on Friday, October 11th. Stifel Nicolaus upped their target price on shares of Alphabet from $200.00 to $225.00 and gave the stock a "buy" rating in a research report on Monday, January 13th. Finally, BMO Capital Markets restated an "outperform" rating and issued a $217.00 target price (up from $215.00) on shares of Alphabet in a report on Wednesday, October 30th. Nine investment analysts have rated the stock with a hold rating, thirty have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, Alphabet has an average rating of "Moderate Buy" and a consensus price target of $209.82.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL traded up $4.38 on Thursday, reaching $199.79. The company's stock had a trading volume of 9,551,657 shares, compared to its average volume of 23,832,391. The stock has a market capitalization of $2.45 trillion, a P/E ratio of 26.49, a PEG ratio of 1.27 and a beta of 0.98. The stock's 50-day moving average is $187.53 and its two-hundred day moving average is $173.84. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. Alphabet Inc. has a 52-week low of $130.66 and a 52-week high of $202.29.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts' consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion during the quarter, compared to analysts' expectations of $72.85 billion. During the same quarter last year, the business posted $1.55 EPS. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.02 EPS for the current year.

Insiders Place Their Bets

In related news, Director Frances Arnold sold 441 shares of the business's stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the transaction, the director now owns 16,490 shares in the company, valued at approximately $2,820,779.40. The trade was a 2.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O'toole sold 1,367 shares of Alphabet stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $171.42, for a total value of $234,331.14. Following the completion of the transaction, the chief accounting officer now owns 26,349 shares of the company's stock, valued at $4,516,745.58. This trade represents a 4.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 122,887 shares of company stock worth $22,470,464 over the last three months. 11.55% of the stock is owned by insiders.

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.