Prentice Wealth Management LLC raised its stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 5.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,554 shares of the information services provider’s stock after acquiring an additional 308 shares during the quarter. Prentice Wealth Management LLC’s holdings in Alphabet were worth $490,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Spreng Capital Management Inc. boosted its position in shares of Alphabet by 4.0% in the first quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock worth $364,000 after buying an additional 5 shares during the period. West Family Investments Inc. boosted its position in shares of Alphabet by 0.3% in the first quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock worth $4,878,000 after buying an additional 6 shares during the period. Maple Capital Management Inc. boosted its position in shares of Alphabet by 2.1% in the first quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock worth $823,000 after buying an additional 6 shares during the period. Private Advisory Group LLC boosted its position in shares of Alphabet by 1.8% in the first quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock worth $1,115,000 after buying an additional 7 shares during the period. Finally, Weik Capital Management boosted its position in shares of Alphabet by 0.5% in the first quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock worth $4,264,000 after buying an additional 8 shares during the period. 34.06% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on GOOGL shares. JMP Securities reissued a “market outperform” rating and issued a $132.00 price target on shares of Alphabet in a report on Thursday, March 16th. Roth Capital reissued a “buy” rating on shares of Alphabet in a report on Friday, February 3rd. Loop Capital increased their price target on Alphabet from $120.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, February 8th. Credit Suisse Group reduced their price target on Alphabet from $145.00 to $136.00 and set an “outperform” rating for the company in a report on Friday, February 3rd. Finally, Rosenblatt Securities reduced their price target on Alphabet from $130.00 to $128.00 and set a “buy” rating for the company in a report on Friday, February 3rd. Four analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $131.83.
Alphabet Stock Down 1.4 %
Alphabet (NASDAQ:GOOGL – Get Rating) last posted its earnings results on Thursday, February 2nd. The information services provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.09). Alphabet had a net margin of 21.20% and a return on equity of 23.54%. The business had revenue of $76.05 billion during the quarter, compared to analyst estimates of $63.15 billion. During the same quarter in the prior year, the business earned $1.53 earnings per share. As a group, research analysts predict that Alphabet Inc. will post 5.12 earnings per share for the current year.
Insider Activity at Alphabet
In other Alphabet news, Director Kavitark Ram Shriram sold 37,500 shares of the 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 transaction, the director now directly owns 144,740 shares of the company’s stock, valued at approximately $14,474,000. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Alphabet news, Director Kavitark Ram Shriram sold 37,500 shares of the 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 transaction, the director now directly owns 144,740 shares of the company’s stock, valued at approximately $14,474,000. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the firm’s stock in a transaction on Monday, March 13th. The shares were purchased at an average cost 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 approximately $50,072,045.83. The disclosure for this purchase can be found here. Insiders have sold a total of 73,865 shares of company stock worth $7,140,167 in the last three months. 11.44% of the stock is owned by company insiders.
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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