DSM Capital Partners LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 1,887.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 32,988 shares of the information services provider’s stock after purchasing an additional 31,328 shares during the quarter. DSM Capital Partners LLC’s holdings in Alphabet were worth $3,172,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Walled Lake Planning & Wealth Management LLC lifted its stake in shares of Alphabet by 1,900.0% in the 3rd quarter. Walled Lake Planning & Wealth Management LLC now owns 34,120 shares of the information services provider’s stock valued at $3,281,000 after purchasing an additional 32,414 shares during the period. Connecticut Wealth Management LLC increased its stake in shares of Alphabet by 1,415.4% during the third quarter. Connecticut Wealth Management LLC now owns 8,350 shares of the information services provider’s stock worth $803,000 after purchasing an additional 7,799 shares in the last quarter. Clarity Financial LLC lifted its stake in Alphabet by 2,118.6% in the 3rd quarter. Clarity Financial LLC now owns 61,722 shares of the information services provider’s stock valued at $5,935,000 after buying an additional 58,940 shares in the last quarter. Element Wealth LLC lifted its stake in Alphabet by 2,245.1% in the 3rd quarter. Element Wealth LLC now owns 2,861 shares of the information services provider’s stock valued at $275,000 after buying an additional 2,739 shares in the last quarter. Finally, Curated Wealth Partners LLC boosted its holdings in Alphabet by 1,916.3% in the 3rd quarter. Curated Wealth Partners LLC now owns 5,081 shares of the information services provider’s stock worth $489,000 after buying an additional 4,829 shares during the last quarter. 28.69% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities analysts have recently weighed in on GOOG shares. Societe Generale decreased their target price on Alphabet from $147.00 to $132.00 and set a “buy” rating on the stock in a research report on Wednesday, November 30th. Jefferies Financial Group set a $125.00 target price on shares of Alphabet in a research note on Friday, February 3rd. Sanford C. Bernstein set a $130.00 target price on shares of Alphabet in a research report on Monday, February 6th. JPMorgan Chase & Co. set a $118.00 price target on shares of Alphabet in a research report on Thursday, February 9th. Finally, Royal Bank of Canada set a $130.00 target price on shares of Alphabet in a research note 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 stock. According to MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $137.13.
Alphabet Trading Up 0.2 %
Alphabet (NASDAQ:GOOG – Get Rating) last announced its earnings results 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 firm had revenue of $76.05 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the business earned $1.53 earnings per share. On average, equities analysts expect that Alphabet Inc. will post 5.12 earnings per share for the current year.
Insider Activity at Alphabet
In other Alphabet news, CAO Amie Thuener O’toole sold 855 shares of the firm’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 of the company’s stock, valued at approximately $2,518,946.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Alphabet news, SVP Prabhakar Raghavan sold 22,203 shares of the business’s stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the completion of the transaction, the senior vice president now owns 76,579 shares in the company, valued at approximately $6,872,965.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 855 shares of the firm’s stock in a transaction on 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 sale, 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. Over the last quarter, insiders sold 36,963 shares of company stock worth $3,453,119. Corporate insiders own 12.99% of the company’s stock.
About Alphabet
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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