Tue Dec 10 14:50:00 UTC 2024: ## Alphabet (GOOGL) Sees Increased Institutional Investment and Positive Analyst Ratings

**NEW YORK, NY – [Date of Publication]** – Alphabet Inc. (GOOGL), the parent company of Google, experienced increased investment from several institutional investors in recent quarters, alongside a wave of positive analyst ratings. Aljian Capital Management LLC boosted its stake by 11.8% in Q3, now holding $35.97 million worth of GOOGL stock, representing 8.4% of its portfolio. Other firms like Christopher J. Hasenberg Inc. and several new investors also increased their positions. In total, institutional investors own 40.03% of Alphabet’s stock.

Analyst sentiment remains largely bullish. Tigress Financial and Morgan Stanley raised their price targets, with Scotiabank upgrading its rating to a “strong buy.” While Goldman Sachs slightly lowered its target, it maintained a “buy” rating. Overall, MarketBeat reports a “Moderate Buy” rating with a consensus price target of $205.90.

Despite this positive outlook, Alphabet’s CEO, Sundar Pichai, and CAO, Amie Thuener O’toole, recently sold a significant number of shares. However, this followed a strong Q3 earnings report which exceeded analysts’ expectations, reporting $2.12 EPS on revenue of $88.27 billion. The company also declared a quarterly dividend of $0.20 per share.

GOOGL shares closed at $171.49 on Monday, up $2.54, with a trading volume of 23,062,387 shares. The company boasts a market cap of $2.10 trillion and a P/E ratio of 22.74. However, MarketBeat notes that some top analysts are recommending other stocks as better buys at present. Further details are available on MarketBeat’s website.

Read More