Barrow Hanley Mewhinney & Strauss LLC increased its stake in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 2,737.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,009 shares of the information services provider’s stock after acquiring an additional 27,022 shares during the period. Barrow Hanley Mewhinney & Strauss LLC’s holdings in Alphabet were worth $2,693,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. DC Investments Management LLC purchased a new position in Alphabet in the first quarter worth about $115,000. Guardian Wealth Management Inc. purchased a new position in Alphabet in the first quarter worth about $184,000. Turim 21 Investimentos Ltda. grew its position in Alphabet by 10.8% in the first quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock worth $229,000 after acquiring an additional 8 shares in the last quarter. OneAscent Financial Services LLC purchased a new position in Alphabet in the second quarter worth about $203,000. Finally, qPULA Trading Management LP purchased a new position in Alphabet in the first quarter worth about $279,000. Hedge funds and other institutional investors own 28.69% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts have issued reports on GOOG shares. Oppenheimer boosted their target price on Alphabet from $130.00 to $155.00 and gave the company an “outperform” rating in a research report on Friday, February 3rd. Credit Suisse Group set a $136.00 target price on Alphabet in a research report on Friday, February 3rd. JPMorgan Chase & Co. set a $118.00 target price on Alphabet in a research report on Thursday, February 9th. UBS Group set a $120.00 target price on Alphabet in a research report on Monday, February 6th. Finally, Sanford C. Bernstein set a $130.00 target price on Alphabet in a research report on Monday, February 6th. One investment analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $137.13.
Alphabet Stock Performance
Alphabet (NASDAQ:GOOG – Get Rating) last issued its quarterly earnings data on Thursday, February 2nd. The information services provider reported $1.05 EPS for the quarter, missing analysts’ consensus estimates 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 return on equity of 23.54% and a net margin of 21.20%. The business’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period last year, the firm earned $1.53 EPS. On average, sell-side analysts predict that Alphabet Inc. will post 5.12 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Alphabet news, CAO Amie Thuener O’toole sold 637 shares of Alphabet stock in a transaction on Wednesday, February 1st. The shares were sold at an average price of $99.87, for a total value of $63,617.19. Following the transaction, the chief accounting officer now directly owns 25,282 shares of the company’s stock, valued at $2,524,913.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 637 shares of Alphabet stock in a transaction on Wednesday, February 1st. The shares were sold at an average price of $99.87, for a total value of $63,617.19. Following the transaction, the chief accounting officer now directly owns 25,282 shares of the company’s stock, valued at $2,524,913.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ann Mather sold 380 shares of Alphabet stock in a transaction on Tuesday, December 27th. The stock was sold at an average price of $89.24, for a total transaction of $33,911.20. Following the completion of the transaction, the director now directly owns 11,300 shares in the company, valued at $1,008,412. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,583 shares of company stock valued at $3,418,900. 12.99% of the stock is currently owned by insiders.
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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