Capital Market Strategies LLC reduced its position in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 4.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,383 shares of the information services provider’s stock after selling 526 shares during the period. Alphabet accounts for about 1.0% of Capital Market Strategies LLC’s portfolio, making the stock its 25th largest position. Capital Market Strategies LLC’s holdings in Alphabet were worth $916,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of GOOGL. IAG Wealth Partners LLC raised its position in shares of Alphabet by 3,275.0% in the 3rd quarter. IAG Wealth Partners LLC now owns 270 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 262 shares during the last quarter. Artemis Wealth Advisors LLC raised its position in shares of Alphabet by 1,900.0% in the 3rd quarter. Artemis Wealth Advisors LLC now owns 280 shares of the information services provider’s stock valued at $27,000 after purchasing an additional 266 shares during the last quarter. Laurel Wealth Planning LLC raised its position in shares of Alphabet by 1,900.0% in the 3rd quarter. Laurel Wealth Planning LLC now owns 300 shares of the information services provider’s stock valued at $29,000 after purchasing an additional 285 shares during the last quarter. Coston McIsaac & Partners raised its position in shares of Alphabet by 1,900.0% in the 3rd quarter. Coston McIsaac & Partners now owns 320 shares of the information services provider’s stock valued at $30,000 after purchasing an additional 304 shares during the last quarter. Finally, Horizons Wealth Management purchased a new position in shares of Alphabet in the 2nd quarter valued at approximately $33,000. 34.06% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other Alphabet news, Director Ann Mather sold 380 shares of Alphabet stock in a transaction on Tuesday, December 27th. The shares were sold at an average price of $89.24, for a total transaction of $33,911.20. Following the sale, the director now owns 11,300 shares of the company’s stock, valued at approximately $1,008,412. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 22,203 shares of Alphabet stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the sale, the senior vice president now owns 76,579 shares of the company’s stock, valued at approximately $6,872,965.25. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ann Mather sold 380 shares of Alphabet 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 disclosure for this sale can be found here. Insiders have sold a total of 74,245 shares of company stock valued at $7,174,078 in the last 90 days. 11.44% of the stock is owned by insiders.
Alphabet Price Performance
Alphabet (NASDAQ:GOOGL – Get Rating) last announced 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). 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 $63.15 billion. During the same period last year, the firm earned $1.53 EPS. As a group, equities research analysts anticipate that Alphabet Inc. will post 5.12 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on GOOGL shares. Roth Capital reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday, February 3rd. Stifel Nicolaus started coverage on shares of Alphabet in a research report on Monday, March 20th. They set a “buy” rating and a $130.00 price target for the company. Mizuho reduced their price target 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. Evercore ISI reduced their price target on shares of Alphabet from $130.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, December 21st. Finally, Credit Suisse Group reduced their price target on shares of Alphabet from $145.00 to $136.00 and set an “outperform” rating for the company in a research report on Friday, February 3rd. Four research analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average price target of $131.83.
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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