Joel Isaacson & Co. LLC Expands Its Alphabet Holdings

Joel Isaacson & Co. LLC has increased its stake in Alphabet Inc. (NASDAQ:GOOG) by 4.4% during the third quarter, as reported in the latest filing with the Securities and Exchange Commission (SEC). After acquiring an additional 20,517 shares, the company now holds a total of 485,289 shares of the tech giant's stock. This investment constitutes approximately 3.9% of Joel Isaacson & Co. LLC’s overall holdings, positioning Alphabet as the seventh largest asset in their portfolio. According to the most recent SEC documents, the value of these holdings stands at approximately $81,135,000.

In addition to Joel Isaacson & Co. LLC, several other investment managers have also recently adjusted their positions in Alphabet. For example, Colonial River Wealth Management LLC increased its ownership by 5.3% in the second quarter, now totaling 2,126 shares worth about $390,000 following a purchase of 107 additional shares. Similarly, Oak Ridge Investments LLC expanded its share count by 4.6% in the first quarter, achieving a total of 187,229 shares valued at $28,508,000 after adding 8,201 shares.

Other investment firms making moves include Rosenberg Matthew Hamilton, which raised its stake in Alphabet by 4.6% in the second quarter, bringing its total to 11,366 shares valued at $2,097,000. Alliance Wealth Management Group saw significant growth of 93.6% in its position during the first quarter, now owning 3,910 shares worth $595,000 after purchasing an additional 1,890 shares. Handelsbanken Fonder AB also increased its shareholding by 4.6% during the third quarter, holding 2,628,176 shares valued at around $439,405,000. Notably, institutional investors and hedge funds together own 27.26% of Alphabet’s stock.

Insider Movement at Alphabet

In terms of insider activity, CAO Amie Thuener O’Toole sold 682 shares on August 2nd, at an average price of $168.00, resulting in a total sale amounting to $114,576.00. After this transaction, O’Toole holds 31,334 shares of the company, valued at $5,264,112, representing a negligible decrease in ownership percentage. This transaction was disclosed through an official filing with the SEC.

Moreover, on August 15th, SVP Prabhakar Raghavan sold 34,257 shares at an average price of $162.60 for a total of approximately $5,570,188.20. Post-sale, Raghavan's holdings consist of 312,210 shares valued at approximately $50,765,346. Insider transactions have shown a total of 220,426 shares sold in the past ninety days, with corporate insiders owning about 12.99% of Alphabet’s stock.

Analyst Opinions on Alphabet

Alphabet has garnered considerable attention from research analysts, with Scotiabank initiating coverage on October 11th and issuing a “sector outperform” rating with a target price of $212.00. Meanwhile, Cantor Fitzgerald upgraded Alphabet to a “hold” rating on September 5th. TD Cowen raised its price target from $200.00 to $220.00, giving the shares a “buy” rating. Pivotal Research followed suit by assigning a “buy” rating and a price objective of $215.00 in its recent report. Wolfe Research also upgraded the stock to a “strong-buy” rating. In total, four analysts have recommended holding the stock, eight have given it a buy rating, and one analyst has awarded a strong buy rating. According to MarketBeat, the general consensus rates the stock as a "Moderate Buy," with an average target price of $186.90.

Alphabet's Market Performance

As for Alphabet's stock market performance, shares opened at $166.99 recently. With a market capitalization of $2.06 trillion and a P/E ratio of 23.96, Alphabet showcases solid financial metrics. The stock's 50-day moving average stands at $163.35, and its 200-day moving average is $170.04. Over the past year, Alphabet has experienced a low of $121.46 and a high of $193.31, demonstrating its volatility. The company’s financial health is reflected in its low debt-to-equity ratio of 0.04, along with a current and quick ratio of 2.08.

Overview of Alphabet Inc.

Alphabet Inc. operates through several segments, which include Google Services and Google Cloud, offering a variety of products and services worldwide. The Google Services segment is particularly notable, providing popular services such as ads, Android, Gmail, Google Maps, and YouTube. As a major player in the technology sector, Alphabet continues to expand its influence and market share globally.

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