Evanson Asset Management LLC reduced its holdings in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 0.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 217,843 shares of the information services provider’s stock after selling 1,160 shares during the period. Alphabet makes up about 2.5% of Evanson Asset Management LLC’s investment portfolio, making the stock its 11th largest position. Evanson Asset Management LLC’s holdings in Alphabet were worth $20,946,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in the business. Financial Advisors Network Inc. increased its position in Alphabet by 4.5% in the 1st quarter. Financial Advisors Network Inc. now owns 161 shares of the information services provider’s stock worth $450,000 after buying an additional 7 shares during the period. Turim 21 Investimentos Ltda. increased its position in Alphabet by 10.8% in the 1st quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock worth $229,000 after buying an additional 8 shares during the period. West Michigan Advisors LLC increased its position in Alphabet by 3.7% in the 1st quarter. West Michigan Advisors LLC now owns 252 shares of the information services provider’s stock worth $704,000 after buying an additional 9 shares during the period. Somerville Kurt F increased its position in Alphabet by 10.3% in the 1st quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock worth $330,000 after buying an additional 11 shares during the period. Finally, Stonebridge Capital Advisors LLC increased its position in Alphabet by 1.4% in the 1st quarter. Stonebridge Capital Advisors LLC now owns 1,182 shares of the information services provider’s stock worth $3,301,000 after buying an additional 16 shares during the period. 28.69% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several brokerages have recently weighed in on GOOG. Piper Sandler decreased their price objective on Alphabet from $122.00 to $120.00 and set an “overweight” rating on the stock in a report on Friday, February 3rd. Cowen decreased their price target on Alphabet from $135.00 to $125.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 11th. Bank of America boosted 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. Oppenheimer boosted 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. Finally, Royal Bank of Canada set a $130.00 price target on Alphabet in a research note on Friday, February 3rd. One analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $135.11.
Alphabet Price Performance
Alphabet (NASDAQ:GOOG – Get Rating) last posted its quarterly earnings data on Thursday, February 2nd. The information services provider reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). The business had revenue of $76.05 billion during 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%. Alphabet’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.53 EPS. Equities research analysts forecast that Alphabet Inc. will post 5.12 earnings per share for the current fiscal year.
Insider Transactions at Alphabet
In other news, Director Kavitark Ram Shriram sold 37,500 shares of the business’s stock in a transaction 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 completion of the sale, the director now owns 144,740 shares in the company, valued at $14,474,000. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Kavitark Ram Shriram sold 37,500 shares of the business’s stock in a transaction 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 completion of the sale, the director now owns 144,740 shares in the company, valued at $14,474,000. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the company’s stock in a transaction dated Monday, March 13th. The shares were purchased at an average price of $29.29 per share, with a total value of $12,155,350.00. Following the transaction, the insider now owns 1,709,527 shares of the company’s stock, valued at $50,072,045.83. The disclosure for this purchase can be found here. Insiders sold a total of 74,245 shares of company stock worth $7,174,078 over the last 90 days. 12.99% of the stock is owned by 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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