Gerber Kawasaki Wealth & Investment Management boosted its position in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 2,235.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 31,646 shares of the information services provider’s stock after purchasing an additional 30,291 shares during the quarter. Gerber Kawasaki Wealth & Investment Management’s holdings in Alphabet were worth $3,026,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in GOOGL. IAG Wealth Partners LLC grew its stake in shares of Alphabet by 3,275.0% during the third 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 during the last quarter. Artemis Wealth Advisors LLC grew its stake in shares of Alphabet by 1,900.0% during the third quarter. Artemis Wealth Advisors LLC now owns 280 shares of the information services provider’s stock worth $27,000 after acquiring an additional 266 shares during the last quarter. Laurel Wealth Planning LLC grew its stake in shares of Alphabet by 1,900.0% during the third quarter. Laurel Wealth Planning LLC now owns 300 shares of the information services provider’s stock worth $29,000 after acquiring an additional 285 shares during the last quarter. Coston McIsaac & Partners grew its stake in shares of Alphabet by 1,900.0% during the third quarter. Coston McIsaac & Partners now owns 320 shares of the information services provider’s stock worth $30,000 after acquiring an additional 304 shares during the last quarter. Finally, Horizons Wealth Management purchased a new stake in shares of Alphabet during the second quarter worth about $33,000. 34.06% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
GOOGL has been the topic of a number of research analyst reports. MKM Partners boosted their price target on Alphabet from $120.00 to $126.00 in a research note on Friday, February 3rd. Barclays upped their target price on Alphabet from $150.00 to $160.00 and gave the company an “overweight” rating in a research report on Friday, February 3rd. Truist Financial dropped their target price on Alphabet from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, February 3rd. Roth Capital reiterated a “buy” rating on shares of Alphabet in a research report on Friday, February 3rd. Finally, KeyCorp dropped their target price on Alphabet from $118.00 to $117.00 and set an “overweight” rating on the stock in a research report on Monday, January 30th. Five investment analysts have rated the stock with a hold rating, thirty-three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $132.32.
Alphabet Stock Up 3.1 %
Alphabet (NASDAQ:GOOGL – Get Rating) last issued its earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.09). The company had revenue of $76.05 billion during the quarter, compared to analysts’ expectations 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 previous year, the company earned $1.53 earnings per share. On average, research analysts expect that Alphabet Inc. will post 5.12 earnings per share for the current year.
Insider Buying and Selling at Alphabet
In other Alphabet news, Director Ann Mather sold 380 shares of the company’s stock in a transaction on Tuesday, December 27th. The stock was sold at an average price of $89.24, for a total value of $33,911.20. Following the completion of the sale, the director now directly owns 11,300 shares in the company, valued at approximately $1,008,412. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, SVP Prabhakar Raghavan sold 22,203 shares of the stock in a transaction 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 transaction, the senior vice president now directly owns 76,579 shares in the company, valued at approximately $6,872,965.25. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ann Mather sold 380 shares of the stock in a transaction on Tuesday, December 27th. The stock was 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 $1,008,412. The disclosure for this sale can be found here. Insiders sold a total of 36,745 shares of company stock worth $3,424,078 in the last three months. 11.44% of the stock is owned by corporate insiders.
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.
Featured Articles
- Get a free copy of the StockNews.com research report on Alphabet (GOOGL)
- Monoclonal Antibodies? Avid Bioservices surges 32% on Blowout Q3
- GitLab Crashes On Guidance; Analysts Defend
- Healthcare Stocks With at Least 30 Years of Dividend Increases
- Coinbase Pops As SVB Crumbles To Dust
- Airlines Update Guidance, Shares Head For Different Destinations
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.
