Continental Investors Services Inc. boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 108,900.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 192,930 shares of the information services provider’s stock after acquiring an additional 192,753 shares during the quarter. Alphabet accounts for 0.9% of Continental Investors Services Inc.’s holdings, making the stock its 21st largest position. Continental Investors Services Inc.’s holdings in Alphabet were worth $25,123,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently bought and sold shares of GOOGL. Spreng Capital Management Inc. raised its holdings in Alphabet by 4.0% in the first quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock worth $364,000 after purchasing an additional 5 shares during the period. West Family Investments Inc. raised its holdings in Alphabet by 0.3% in the first quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock worth $4,878,000 after purchasing an additional 6 shares during the period. Maple Capital Management Inc. raised its holdings in Alphabet by 2.1% in the first quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock worth $823,000 after purchasing an additional 6 shares during the period. Private Advisory Group LLC raised its holdings in Alphabet by 1.8% in the first quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock worth $1,115,000 after purchasing an additional 7 shares during the period. Finally, Weik Capital Management raised its holdings in shares of Alphabet by 0.5% during the first quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock worth $4,264,000 after acquiring an additional 8 shares during the period. 34.06% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on GOOGL. Barclays raised their price objective on shares of Alphabet from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, February 3rd. Tigress Financial dropped their price objective on shares of Alphabet from $186.00 to $160.00 and set a “strong-buy” rating on the stock in a report on Friday, January 6th. Bank of America raised their price objective on shares of Alphabet from $116.00 to $119.00 and gave the stock a “buy” rating in a report on Tuesday, January 31st. Mizuho dropped their price objective on shares of Alphabet from $140.00 to $135.00 and set a “buy” rating on the stock in a report on Wednesday, November 30th. Finally, MKM Partners raised their price objective on shares of Alphabet from $120.00 to $126.00 in a report on Friday, February 3rd. Five research 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.com, the company currently 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 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.09). Alphabet had a return on equity of 23.54% and a net margin of 21.20%. The business had revenue of $76.05 billion during the quarter, compared to analyst estimates of $63.15 billion. During the same quarter last year, the firm earned $1.53 EPS. Analysts forecast that Alphabet Inc. will post 5.12 EPS for the current year.
Insiders Place Their Bets
In other Alphabet news, Director Ann Mather sold 340 shares of Alphabet 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 completion of the sale, the director now owns 11,300 shares in the company, valued at approximately $1,095,196. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, 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 transaction, the director now directly owns 11,300 shares in the company, valued at approximately $1,095,196. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 855 shares of the business’s stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total transaction of $77,933.25. Following the completion of the transaction, the chief accounting officer now owns 25,122 shares of the company’s stock, valued at $2,289,870.30. The disclosure for this sale can be found here. Insiders sold 74,245 shares of company stock worth $7,174,078 in the last quarter. 11.44% of the stock is currently 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.
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