Gallacher Capital Management LLC bought a new position in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 3,357 shares of the information services provider’s stock, valued at approximately $296,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Willow Creek Wealth Management Inc. raised its holdings in shares of Alphabet by 1,926.9% in the 3rd quarter. Willow Creek Wealth Management Inc. now owns 18,546 shares of the information services provider’s stock worth $1,774,000 after acquiring an additional 17,631 shares during the last quarter. Louisiana State Employees Retirement System bought a new stake in Alphabet in the 3rd quarter worth about $55,305,000. Griffin Asset Management Inc. grew its position in Alphabet by 1,900.0% in the 3rd quarter. Griffin Asset Management Inc. now owns 52,240 shares of the information services provider’s stock worth $4,997,000 after purchasing an additional 49,628 shares in the last quarter. Bridgewater Advisors Inc. grew its position in Alphabet by 3,005.0% in the 3rd quarter. Bridgewater Advisors Inc. now owns 67,503 shares of the information services provider’s stock worth $6,457,000 after purchasing an additional 65,329 shares in the last quarter. Finally, Adell Harriman & Carpenter Inc. grew its position in Alphabet by 1,915.2% in the 3rd quarter. Adell Harriman & Carpenter Inc. now owns 129,797 shares of the information services provider’s stock worth $12,415,000 after purchasing an additional 123,356 shares in the last quarter. Institutional investors and hedge funds own 34.06% of the company’s stock.
Alphabet Stock Performance
Alphabet stock opened at $105.44 on Friday. The firm’s fifty day moving average price is $96.46 and its 200-day moving average price is $96.11. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.34 and a current ratio of 2.38. The stock has a market cap of $1.35 trillion, a P/E ratio of 23.17, a price-to-earnings-growth ratio of 1.45 and a beta of 1.09. Alphabet Inc. has a fifty-two week low of $83.34 and a fifty-two week high of $143.79.
Insider Activity
In related news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the stock in a transaction dated 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 transaction, the insider now owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of Alphabet stock in a transaction that occurred on Monday, March 13th. The shares were bought at an average price of $29.29 per share, with a total value of $12,155,350.00. Following the acquisition, the insider now owns 1,709,527 shares in the company, valued at $50,072,045.83. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ann Mather sold 340 shares of the stock in a transaction on Wednesday, January 25th. The shares were sold at an average price of $96.92, for a total transaction of $32,952.80. Following the transaction, the director now directly owns 11,300 shares in the company, valued at approximately $1,095,196. The disclosure for this sale can be found here. In the last quarter, insiders have sold 74,245 shares of company stock worth $7,174,078. 11.44% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
GOOGL has been the subject of a number of recent analyst reports. Stifel Nicolaus initiated coverage on shares of Alphabet in a research report on Monday, March 20th. They issued a “buy” rating and a $130.00 price objective for the company. Jefferies Financial Group reaffirmed a “buy” rating and issued a $130.00 price objective on shares of Alphabet in a research report on Friday, February 10th. BNP Paribas raised shares of Alphabet from a “neutral” rating to an “outperform” rating and set a $123.00 price objective for the company in a research report on Friday, March 17th. Tigress Financial reduced their target price on shares of Alphabet from $186.00 to $160.00 and set a “strong-buy” rating for the company in a research report on Friday, January 6th. Finally, Credit Suisse Group reduced their target price 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 analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus 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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