Focused Wealth Management Inc increased its stake in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 2.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,590 shares of the information services provider’s stock after acquiring an additional 191 shares during the period. Focused Wealth Management Inc’s holdings in Alphabet were worth $673,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also bought and sold shares of GOOG. Walled Lake Planning & Wealth Management LLC grew its position in shares of Alphabet by 1,900.0% in the third quarter. Walled Lake Planning & Wealth Management LLC now owns 34,120 shares of the information services provider’s stock valued at $3,281,000 after purchasing an additional 32,414 shares during the last quarter. Grand Jean Capital Management Inc. grew its position in shares of Alphabet by 1,926.2% in the third quarter. Grand Jean Capital Management Inc. now owns 137,135 shares of the information services provider’s stock valued at $13,186,000 after purchasing an additional 130,367 shares during the last quarter. Connecticut Wealth Management LLC grew its position in shares of Alphabet by 1,415.4% in the third quarter. Connecticut Wealth Management LLC now owns 8,350 shares of the information services provider’s stock valued at $803,000 after purchasing an additional 7,799 shares during the last quarter. Matthew Goff Investment Advisor LLC grew its position in Alphabet by 4.2% during the fourth quarter. Matthew Goff Investment Advisor LLC now owns 7,380 shares of the information services provider’s stock worth $655,000 after buying an additional 300 shares in the last quarter. Finally, Clarity Financial LLC grew its position in Alphabet by 2,118.6% during the third quarter. Clarity Financial LLC now owns 61,722 shares of the information services provider’s stock worth $5,935,000 after buying an additional 58,940 shares in the last quarter. Institutional investors own 28.69% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on the company. Piper Sandler cut their target price on Alphabet from $122.00 to $120.00 and set an “overweight” rating for the company in a research note on Friday, February 3rd. Oppenheimer increased their price target on Alphabet from $130.00 to $155.00 and gave the company an “outperform” rating in a research note on Friday, February 3rd. Jefferies Financial Group set a $125.00 price target on Alphabet in a research note on Friday, February 3rd. Cowen dropped their price target on Alphabet from $135.00 to $125.00 and set an “outperform” rating for the company in a research note on Wednesday, January 11th. Finally, Bank of America increased their price target on Alphabet from $116.00 to $119.00 and gave the company a “buy” rating in a research note on Tuesday, January 31st. One research analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $135.11.
Alphabet Stock Performance
Alphabet (NASDAQ:GOOG – Get Rating) last issued its quarterly earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $76.49 billion. During the same quarter in the previous year, the business posted $1.53 earnings per share. The business’s revenue was up 1.0% on a year-over-year basis. As a group, analysts anticipate that Alphabet Inc. will post 5.12 EPS for the current year.
Insiders Place Their Bets
In other news, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of Alphabet stock in a transaction dated Monday, March 13th. The stock was bought at an average cost of $29.29 per share, for a total transaction of $12,155,350.00. Following the purchase, the insider now directly owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Prabhakar Raghavan sold 22,203 shares of the firm’s stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total value of $1,992,719.25. Following the completion of the sale, the senior vice president now directly owns 76,579 shares in the company, valued at approximately $6,872,965.25. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of Alphabet stock in a transaction dated Monday, March 13th. The stock was purchased at an average price of $29.29 per share, with a total value of $12,155,350.00. Following the completion of the purchase, the insider now owns 1,709,527 shares in the company, valued at $50,072,045.83. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 74,245 shares of company stock worth $7,174,078. Company insiders own 12.99% of the company’s stock.
Alphabet 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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