Weiss Asset Management LP acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 8,013 shares of the information services provider’s stock, valued at approximately $766,000.
A number of other hedge funds also recently made changes to their positions in GOOGL. IAG Wealth Partners LLC increased its holdings in Alphabet by 3,275.0% in the third quarter. IAG Wealth Partners LLC now owns 270 shares of the information services provider’s stock worth $26,000 after purchasing an additional 262 shares in the last quarter. Artemis Wealth Advisors LLC increased its holdings in Alphabet by 1,900.0% in the third quarter. Artemis Wealth Advisors LLC now owns 280 shares of the information services provider’s stock worth $27,000 after purchasing an additional 266 shares in the last quarter. Laurel Wealth Planning LLC increased its holdings in Alphabet by 1,900.0% in the third quarter. Laurel Wealth Planning LLC now owns 300 shares of the information services provider’s stock worth $29,000 after purchasing an additional 285 shares in the last quarter. Coston McIsaac & Partners increased its holdings in Alphabet by 1,900.0% in the third quarter. Coston McIsaac & Partners now owns 320 shares of the information services provider’s stock worth $30,000 after purchasing an additional 304 shares in the last quarter. Finally, Horizons Wealth Management bought a new stake in Alphabet in the second quarter worth approximately $33,000. 34.06% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Alphabet
In related news, Director Ann Mather sold 380 shares of the business’s stock in a transaction on Tuesday, December 27th. The stock was sold at an average price of $89.24, for a total transaction of $33,911.20. Following the sale, the director now directly owns 11,300 shares in the company, valued at approximately $1,008,412. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Ann Mather sold 380 shares of the business’s stock in a transaction on Tuesday, December 27th. The stock was sold at an average price of $89.24, for a total transaction of $33,911.20. Following the sale, the director now directly owns 11,300 shares in the company, valued at approximately $1,008,412. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the firm’s stock in a transaction that occurred on Monday, March 13th. The shares were bought at an average price of $29.29 per share, for a total transaction of $12,155,350.00. Following the completion of the purchase, the insider now owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The disclosure for this purchase can be found here. Insiders have sold a total of 74,245 shares of company stock worth $7,174,078 over the last ninety days. 11.44% of the stock is currently owned by company insiders.
Alphabet Stock Performance
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 firm had revenue of $76.05 billion during the quarter, compared to the consensus estimate 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 firm earned $1.53 earnings per share. On average, equities research analysts forecast that Alphabet Inc. will post 5.12 EPS for the current year.
Analysts Set New Price Targets
GOOGL has been the subject of a number of research analyst reports. Credit Suisse Group lowered their target price on Alphabet from $145.00 to $136.00 and set an “outperform” rating for the company in a report on Friday, February 3rd. StockNews.com started coverage on Alphabet in a report on Thursday. They issued a “hold” rating for the company. Evercore ISI reduced their price objective on Alphabet from $130.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday, December 21st. Loop Capital raised their price objective on Alphabet from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, February 8th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $115.00 price objective on shares of Alphabet in a research note on Wednesday, March 8th. Five 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. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $132.32.
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.
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