Udine Wealth Management Inc. lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 2,165.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 139,609 shares of the information services provider’s stock after purchasing an additional 133,447 shares during the quarter. Alphabet accounts for about 7.1% of Udine Wealth Management Inc.’s portfolio, making the stock its 4th biggest position. Udine Wealth Management Inc.’s holdings in Alphabet were worth $13,354,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. DC Investments Management LLC bought a new position in shares of Alphabet during the first quarter worth about $115,000. Guardian Wealth Management Inc. bought a new position in shares of Alphabet during the first quarter worth about $184,000. Turim 21 Investimentos Ltda. grew its stake in Alphabet by 10.8% in the first quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock valued at $229,000 after purchasing an additional 8 shares in the last quarter. OneAscent Financial Services LLC bought a new position in Alphabet in the second quarter valued at approximately $203,000. Finally, qPULA Trading Management LP bought a new position in Alphabet in the first quarter valued at approximately $279,000. Institutional investors and hedge funds own 28.69% of the company’s stock.
Insider Activity
In other Alphabet news, CAO Amie Thuener O’toole sold 855 shares of the stock in a transaction on Thursday, December 1st. The stock was sold at an average price of $101.13, for a total transaction of $86,466.15. Following the completion of the transaction, the chief accounting officer now directly owns 24,908 shares of the company’s stock, valued at $2,518,946.04. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Ann Mather sold 380 shares of the firm’s stock in a transaction on Tuesday, December 27th. The stock was sold at an average price of $89.24, for a total value of $33,911.20. Following the completion of the transaction, the director now directly owns 11,300 shares of the company’s stock, valued at $1,008,412. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 855 shares of the firm’s stock in a transaction on Thursday, December 1st. The stock was sold at an average price of $101.13, for a total value of $86,466.15. Following the completion of the transaction, the chief accounting officer now directly owns 24,908 shares of the company’s stock, valued at $2,518,946.04. The disclosure for this sale can be found here. Insiders sold a total of 36,583 shares of company stock valued at $3,418,900 over the last three months. Corporate insiders own 12.99% of the company’s stock.
Alphabet Stock Performance
Alphabet (NASDAQ:GOOG – Get Rating) last released its earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.09). The business had revenue of $76.05 billion during the quarter, compared to the consensus estimate of $76.49 billion. Alphabet had a net margin of 21.20% and a return on equity of 23.54%. The business’s revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.53 earnings per share. Equities analysts anticipate that Alphabet Inc. will post 5.15 earnings per share for the current fiscal year.
Analysts Set New Price Targets
GOOG has been the subject of a number of analyst reports. Cowen decreased their price target on Alphabet from $135.00 to $125.00 and set an “outperform” rating for the company in a research note on Wednesday, January 11th. Sanford C. Bernstein set a $130.00 target price on Alphabet in a research note on Monday, February 6th. Societe Generale reduced their target price on Alphabet from $147.00 to $132.00 and set a “buy” rating for the company in a research note on Wednesday, November 30th. JPMorgan Chase & Co. set a $118.00 target price on Alphabet in a research note on Thursday, February 9th. Finally, Raymond James lifted their target price on Alphabet from $116.00 to $119.00 and gave the stock an “outperform” rating in a research note on Friday, February 3rd. One investment analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $137.13.
About Alphabet
Alphabet, Inc is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube.
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