Joseph Group Capital Management boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 2,045.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,394 shares of the information services provider’s stock after acquiring an additional 15,630 shares during the period. Alphabet comprises 1.7% of Joseph Group Capital Management’s investment portfolio, making the stock its 8th biggest holding. Joseph Group Capital Management’s holdings in Alphabet were worth $1,568,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. IAG Wealth Partners LLC grew its holdings in Alphabet by 3,275.0% during the 3rd quarter. IAG Wealth Partners LLC now owns 270 shares of the information services provider’s stock worth $26,000 after acquiring an additional 262 shares in the last quarter. Artemis Wealth Advisors LLC lifted its position in shares of Alphabet by 1,900.0% during the 3rd quarter. Artemis Wealth Advisors LLC now owns 280 shares of the information services provider’s stock worth $27,000 after buying an additional 266 shares during the last quarter. Laurel Wealth Planning LLC lifted its position in shares of Alphabet by 1,900.0% during the 3rd quarter. Laurel Wealth Planning LLC now owns 300 shares of the information services provider’s stock worth $29,000 after buying an additional 285 shares during the last quarter. Coston McIsaac & Partners lifted its position in shares of Alphabet by 1,900.0% during the 3rd quarter. Coston McIsaac & Partners now owns 320 shares of the information services provider’s stock worth $30,000 after buying an additional 304 shares during the last quarter. Finally, Horizons Wealth Management purchased a new stake in shares of Alphabet during the 2nd quarter worth approximately $33,000. Institutional investors and hedge funds own 34.06% of the company’s stock.
Analyst Ratings Changes
Several analysts have recently weighed in on GOOGL shares. KeyCorp reduced their price objective on shares of Alphabet from $118.00 to $117.00 and set an “overweight” rating for the company in a research report on Monday, January 30th. Morgan Stanley upped their price target on shares of Alphabet from $125.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, February 3rd. JMP Securities reiterated a “market outperform” rating and issued a $132.00 price target on shares of Alphabet in a research report on Friday, February 3rd. Loop Capital upped their price target on shares of Alphabet from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, February 8th. Finally, Credit Suisse Group reduced their price target on shares of Alphabet from $145.00 to $136.00 and set an “outperform” rating for the company in a research report on Friday, February 3rd. Five equities research analysts have rated the stock with a hold rating, thirty-three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $132.32.
Alphabet Price Performance
Alphabet (NASDAQ:GOOGL – 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 analyst estimates of $63.15 billion. Alphabet had a net margin of 21.20% and a return on equity of 23.54%. During the same period in the previous year, the company posted $1.53 earnings per share. As a group, research analysts forecast that Alphabet Inc. will post 5.12 earnings per share for the current fiscal year.
Insider Activity at Alphabet
In related news, Director Ann Mather sold 340 shares of the stock in a transaction dated 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 directly owns 11,300 shares of the company’s stock, valued at approximately $1,095,196. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Ann Mather sold 340 shares of the stock in a transaction dated 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 directly owns 11,300 shares of the company’s stock, valued at approximately $1,095,196. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 855 shares of the company’s stock in a transaction dated Thursday, December 1st. The shares were 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 owns 24,908 shares in the company, valued at $2,518,946.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,583 shares of company stock valued at $3,418,900. Insiders own 11.44% of the company’s stock.
Alphabet Company 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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