Lumature Wealth Partners LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 1,900.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,500 shares of the information services provider’s stock after acquiring an additional 1,425 shares during the quarter. Lumature Wealth Partners LLC’s holdings in Alphabet were worth $144,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the company. Financial Advisors Network Inc. boosted its holdings in shares of Alphabet by 4.5% during the 1st quarter. Financial Advisors Network Inc. now owns 161 shares of the information services provider’s stock valued at $450,000 after acquiring an additional 7 shares in the last quarter. Turim 21 Investimentos Ltda. boosted its holdings in shares of Alphabet by 10.8% during the 1st quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock valued at $229,000 after acquiring an additional 8 shares in the last quarter. West Michigan Advisors LLC boosted its holdings in shares of Alphabet by 3.7% during the 1st quarter. West Michigan Advisors LLC now owns 252 shares of the information services provider’s stock valued at $704,000 after acquiring an additional 9 shares in the last quarter. Somerville Kurt F boosted its holdings in shares of Alphabet by 10.3% during the 1st quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock valued at $330,000 after acquiring an additional 11 shares in the last quarter. Finally, Stonebridge Capital Advisors LLC lifted its holdings in Alphabet by 1.4% during the 1st quarter. Stonebridge Capital Advisors LLC now owns 1,182 shares of the information services provider’s stock worth $3,301,000 after buying an additional 16 shares during the period. Institutional investors and hedge funds own 28.69% of the company’s stock.
Insider Activity at Alphabet
In other Alphabet news, CAO Amie Thuener O’toole sold 855 shares of the company’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 owns 24,908 shares in the company, valued at approximately $2,518,946.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Ann Mather sold 340 shares of Alphabet stock in a transaction that occurred on Wednesday, January 25th. The shares were sold at an average price of $96.92, for a total value of $32,952.80. Following the sale, the director now owns 11,300 shares of the company’s stock, valued at approximately $1,095,196. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 855 shares of the company’s stock in a transaction that occurred on Thursday, December 1st. The shares were 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 owns 24,908 shares in the company, valued at approximately $2,518,946.04. The disclosure for this sale can be found here. Over the last three months, insiders sold 36,583 shares of company stock valued at $3,418,900. 12.99% of the stock is owned by insiders.
Alphabet Price Performance
Alphabet (NASDAQ:GOOG – Get Rating) last released its quarterly earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.09). The firm had revenue of $76.05 billion for the quarter, compared to analysts’ expectations of $76.49 billion. Alphabet had a return on equity of 23.54% and a net margin of 21.20%. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.53 earnings per share. As a group, analysts forecast that Alphabet Inc. will post 5.12 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on the company. Credit Suisse Group set a $136.00 price target on Alphabet in a research note on Friday, February 3rd. Cowen lowered their price target on shares of Alphabet from $135.00 to $125.00 and set an “outperform” rating for the company in a report on Wednesday, January 11th. UBS Group set a $120.00 price objective on shares of Alphabet in a research note on Monday, February 6th. Raymond James lifted their target price on shares of Alphabet from $116.00 to $119.00 and gave the stock an “outperform” rating in a research note on Friday, February 3rd. Finally, Royal Bank of Canada set a $130.00 price target on shares of Alphabet in a research report on Friday, February 3rd. One equities research analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $137.13.
Alphabet Profile
Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.
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