Princeton Global Asset Management LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 1,900.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,200 shares of the information services provider’s stock after buying an additional 22,990 shares during the period. Princeton Global Asset Management LLC’s holdings in Alphabet were worth $2,327,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. OLD Second National Bank of Aurora lifted its holdings in shares of Alphabet by 1,900.0% during the third quarter. OLD Second National Bank of Aurora now owns 260 shares of the information services provider’s stock valued at $25,000 after purchasing an additional 247 shares in the last quarter. Westchester Capital Management Inc. grew its holdings in Alphabet by 1,900.0% during the 3rd quarter. Westchester Capital Management Inc. now owns 260 shares of the information services provider’s stock valued at $25,000 after buying an additional 247 shares in the last quarter. Carolina Wealth Advisors LLC grew its holdings in Alphabet by 1,900.0% during the 3rd quarter. Carolina Wealth Advisors LLC now owns 300 shares of the information services provider’s stock valued at $29,000 after buying an additional 285 shares in the last quarter. Saban Cheryl lifted its stake in shares of Alphabet by 1,900.0% in the 3rd quarter. Saban Cheryl now owns 200 shares of the information services provider’s stock valued at $29,000 after purchasing an additional 190 shares during the last quarter. Finally, NewSquare Capital LLC lifted its stake in shares of Alphabet by 1,900.0% during the 3rd quarter. NewSquare Capital LLC now owns 320 shares of the information services provider’s stock worth $31,000 after acquiring an additional 304 shares during the last quarter. 28.69% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Alphabet
In related news, SVP Prabhakar Raghavan sold 22,203 shares of the company’s stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the sale, the senior vice president now owns 76,579 shares in the company, valued at $6,872,965.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Prabhakar Raghavan sold 22,203 shares of Alphabet stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the completion of the sale, the senior vice president now directly owns 76,579 shares of the company’s stock, valued at approximately $6,872,965.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Ann Mather sold 340 shares of the business’s 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 completion of the sale, the director now owns 11,300 shares of the company’s stock, valued at $1,095,196. The disclosure for this sale can be found here. Insiders sold 36,963 shares of company stock valued at $3,453,119 over the last three months. Company insiders own 12.99% of the company’s stock.
Alphabet Stock Performance
Alphabet (NASDAQ:GOOG – Get Rating) last announced 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 company had revenue of $76.05 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period last year, the firm 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.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on GOOG. JPMorgan Chase & Co. set a $118.00 target price on Alphabet in a research report on Thursday, February 9th. Royal Bank of Canada set a $130.00 price objective on Alphabet in a report on Friday, February 3rd. Piper Sandler decreased their target price on Alphabet from $122.00 to $120.00 and set an “overweight” rating on the stock in a research report on Friday, February 3rd. Societe Generale reduced their price objective on Alphabet from $147.00 to $132.00 and set a “buy” rating on the stock in a research report on Wednesday, November 30th. Finally, UBS Group set a $120.00 target price on shares of 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, the stock has an average 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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