ESG Planning grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1,983.7% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 29,734 shares of the information services provider’s stock after buying an additional 28,307 shares during the period. Alphabet makes up 2.9% of ESG Planning’s investment portfolio, making the stock its 9th biggest holding. ESG Planning’s holdings in Alphabet were worth $2,875,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in the stock. Bornite Capital Management LP bought a new stake in Alphabet in the first quarter valued at about $16,688,000. Markel Corp increased its stake in Alphabet by 17.0% in the first quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock valued at $43,110,000 after acquiring an additional 2,250 shares during the period. United Bank increased its stake in Alphabet by 5.9% in the first quarter. United Bank now owns 2,033 shares of the information services provider’s stock valued at $5,654,000 after acquiring an additional 113 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Alphabet by 23.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock valued at $900,929,000 after acquiring an additional 61,427 shares during the period. Finally, Dakota Wealth Management increased its stake in Alphabet by 20.4% in the first quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock valued at $25,806,000 after acquiring an additional 1,570 shares during the period. Institutional investors and hedge funds own 34.06% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on the stock. New Street Research initiated coverage on shares of Alphabet in a research note on Wednesday, January 4th. They issued a “buy” rating and a $118.00 target price on the stock. Morgan Stanley increased their price target on shares of Alphabet from $125.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, February 3rd. Loop Capital increased their price objective on shares of Alphabet from $120.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, February 8th. JMP Securities restated a “market outperform” rating and set a $132.00 price objective on shares of Alphabet in a report on Friday, February 3rd. Finally, Truist Financial decreased their price objective on shares of Alphabet from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, February 3rd. Five investment 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’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.32.
Alphabet Stock Performance
Alphabet (NASDAQ:GOOGL – Get Rating) last issued its earnings results on Thursday, February 2nd. The information services provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.09). The firm 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 quarter in the prior year, the business earned $1.53 earnings per share. On average, equities research analysts predict that Alphabet Inc. will post 5.12 EPS for the current fiscal year.
Insider Activity
In other news, CAO Amie Thuener O’toole sold 855 shares of the firm’s stock in a transaction dated 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 sale, the chief accounting officer now directly owns 24,908 shares in the company, valued at approximately $2,518,946.04. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 855 shares of Alphabet stock in a transaction dated 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 owns 24,908 shares in the company, valued at approximately $2,518,946.04. The transaction was disclosed in a document filed 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 dated Tuesday, December 27th. The shares were sold at an average price of $89.24, for a total value of $33,911.20. Following the transaction, the director now owns 11,300 shares of the company’s stock, valued at approximately $1,008,412. The disclosure for this sale can be found here. Insiders sold a total of 36,583 shares of company stock worth $3,418,900 in the last three months. Company 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.
Further Reading
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