General Partner Inc. acquired a new stake in Alphabet Inc. (NASDAQ:GOOG – Get Rating) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 42,600 shares of the information services provider’s stock, valued at approximately $3,780,000. Alphabet comprises about 3.5% of General Partner Inc.’s holdings, making the stock its 6th largest position.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fulton Bank N.A. boosted its position in shares of Alphabet by 3.0% during the 4th quarter. Fulton Bank N.A. now owns 68,264 shares of the information services provider’s stock worth $6,057,000 after purchasing an additional 2,011 shares in the last quarter. HBW Advisory Services LLC boosted its position in shares of Alphabet by 1.8% during the 4th quarter. HBW Advisory Services LLC now owns 12,829 shares of the information services provider’s stock worth $1,139,000 after purchasing an additional 233 shares in the last quarter. Bartlett & Co. LLC boosted its position in shares of Alphabet by 0.3% during the 4th quarter. Bartlett & Co. LLC now owns 1,301,201 shares of the information services provider’s stock worth $115,455,000 after purchasing an additional 3,971 shares in the last quarter. Private Asset Management Inc. boosted its position in shares of Alphabet by 0.8% during the 4th quarter. Private Asset Management Inc. now owns 227,514 shares of the information services provider’s stock worth $20,187,000 after purchasing an additional 1,845 shares in the last quarter. Finally, Marotta Asset Management boosted its position in shares of Alphabet by 14.6% during the 4th quarter. Marotta Asset Management now owns 3,002 shares of the information services provider’s stock worth $266,000 after purchasing an additional 382 shares in the last quarter. 28.69% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on GOOG shares. Bank of America boosted their price objective on shares of Alphabet from $116.00 to $119.00 and gave the stock a “buy” rating in a research report on Tuesday, January 31st. Piper Sandler decreased their price objective on shares of Alphabet from $122.00 to $120.00 and set an “overweight” rating on the stock in a research report on Friday, February 3rd. Credit Suisse Group set a $136.00 price objective on shares of Alphabet in a research report on Friday, February 3rd. Societe Generale decreased their price objective on shares of Alphabet from $147.00 to $132.00 and set a “buy” rating on the stock in a research report on Wednesday, November 30th. Finally, Roth Capital reissued a “buy” rating 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $137.13.
Alphabet Stock Up 1.4 %
Alphabet (NASDAQ:GOOG – Get Rating) last posted its earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). The business 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% compared to the same quarter last year. During the same period last year, the company posted $1.53 EPS. Sell-side analysts expect that Alphabet Inc. will post 5.12 earnings per share for the current year.
Insider Buying and Selling
In other Alphabet news, Director Kavitark Ram Shriram sold 37,500 shares of the company’s stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $100.00, for a total value of $3,750,000.00. Following the completion of the transaction, the director now owns 144,740 shares in the company, valued at approximately $14,474,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the firm’s stock in a transaction on Monday, March 13th. The stock was purchased at an average price of $29.29 per share, for a total transaction of $12,155,350.00. Following the acquisition, the insider now directly owns 1,709,527 shares in the company, valued at $50,072,045.83. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 37,500 shares of the company’s stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $100.00, for a total value of $3,750,000.00. Following the completion of the transaction, the director now owns 144,740 shares of the company’s stock, valued at approximately $14,474,000. The disclosure for this sale can be found here. In the last quarter, insiders sold 74,245 shares of company stock valued at $7,174,078. 12.99% of the stock is currently owned by corporate insiders.
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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