Stableford Capital II LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 26.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 75,186 shares of the information services provider’s stock after acquiring an additional 15,846 shares during the quarter. Alphabet accounts for approximately 3.6% of Stableford Capital II LLC’s investment portfolio, making the stock its 7th largest position. Stableford Capital II LLC’s holdings in Alphabet were worth $6,618,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Bornite Capital Management LP acquired a new position in shares of Alphabet in the 1st quarter valued at about $16,688,000. Markel Corp boosted its holdings in Alphabet by 17.0% during the first quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock worth $43,110,000 after purchasing an additional 2,250 shares during the last quarter. United Bank lifted its position in shares of Alphabet by 5.9% during the 1st quarter. United Bank now owns 2,033 shares of the information services provider’s stock worth $5,654,000 after buying an additional 113 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Alphabet by 23.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock worth $900,929,000 after acquiring an additional 61,427 shares during the period. Finally, Dakota Wealth Management raised its stake in shares of Alphabet by 20.4% during the 1st quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock worth $25,806,000 after purchasing an additional 1,570 shares during the period. Institutional investors own 34.06% of the company’s stock.
Alphabet Stock Performance
GOOGL opened at $101.62 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.38 and a quick ratio of 2.34. Alphabet Inc. has a 1-year low of $83.34 and a 1-year high of $143.79. The company has a 50 day simple moving average of $95.08 and a two-hundred day simple moving average of $96.09. The firm has a market cap of $1.30 trillion, a P/E ratio of 22.33, a PEG ratio of 1.39 and a beta of 1.09.
Insider Buying and Selling
In other Alphabet news, Director Kavitark Ram Shriram sold 37,500 shares of the business’s stock in a transaction on Thursday, March 16th. The shares were sold at an average price of $100.00, for a total value of $3,750,000.00. Following the sale, the director now owns 144,740 shares in the company, valued at approximately $14,474,000. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Alphabet news, Director Kavitark Ram Shriram sold 37,500 shares of the business’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 transaction of $3,750,000.00. Following the sale, the director now directly owns 144,740 shares of the company’s stock, valued at $14,474,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the business’s stock in a transaction that occurred on Monday, March 13th. The shares were purchased at an average price of $29.29 per share, for a total transaction of $12,155,350.00. Following the completion of the acquisition, the insider now directly owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 74,245 shares of company stock worth $7,174,078. 11.44% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
GOOGL has been the topic of several research reports. StockNews.com started coverage on Alphabet in a research report on Thursday. They set a “hold” rating on the stock. Rosenblatt Securities cut their price target on shares of Alphabet from $130.00 to $128.00 and set a “buy” rating for the company in a report on Friday, February 3rd. Bank of America lifted their price target on Alphabet from $116.00 to $119.00 and gave the company a “buy” rating in a research report on Tuesday, January 31st. Mizuho cut their target price on shares of Alphabet from $140.00 to $135.00 and set a “buy” rating for the company in a research report on Wednesday, November 30th. Finally, Tigress Financial cut their target price on Alphabet from $186.00 to $160.00 and set a “strong-buy” rating for the company in a research note on Friday, January 6th. Four analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $132.44.
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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