Kaye Capital Management acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,060 shares of the information services provider’s stock, valued at approximately $1,064,000. Alphabet accounts for about 0.6% of Kaye Capital Management’s holdings, making the stock its 18th largest holding.
Several other institutional investors and hedge funds also recently modified their holdings of the company. McLean Asset Management Corp boosted its position in Alphabet by 3.3% during the fourth quarter. McLean Asset Management Corp now owns 9,242 shares of the information services provider’s stock valued at $815,000 after purchasing an additional 292 shares during the last quarter. Prentice Wealth Management LLC boosted its holdings in shares of Alphabet by 5.9% in the 4th quarter. Prentice Wealth Management LLC now owns 5,554 shares of the information services provider’s stock valued at $490,000 after buying an additional 308 shares during the last quarter. Tandem Capital Management Corp ADV grew its stake in shares of Alphabet by 0.8% in the fourth quarter. Tandem Capital Management Corp ADV now owns 42,199 shares of the information services provider’s stock valued at $3,723,000 after buying an additional 319 shares in the last quarter. Beaumont Asset Management L.L.C. increased its holdings in Alphabet by 0.7% during the fourth quarter. Beaumont Asset Management L.L.C. now owns 41,531 shares of the information services provider’s stock worth $3,664,000 after buying an additional 290 shares during the last quarter. Finally, Calton & Associates Inc. increased its holdings in Alphabet by 6.2% during the fourth quarter. Calton & Associates Inc. now owns 4,972 shares of the information services provider’s stock worth $439,000 after buying an additional 292 shares during the last quarter. 34.06% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Alphabet
In other news, insider John Kent Walker sold 11,313 shares of the stock in a transaction dated Monday, January 23rd. The shares were sold at an average price of $100.00, for a total value of $1,131,300.00. Following the completion of the transaction, the insider now owns 41,970 shares of the company’s stock, valued at $4,197,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider John Kent Walker sold 11,313 shares of the stock in a transaction dated Monday, January 23rd. The shares were sold at an average price of $100.00, for a total value of $1,131,300.00. Following the completion of the transaction, the insider now owns 41,970 shares of the company’s stock, valued at $4,197,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 37,500 shares of the stock in a transaction dated 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 73,865 shares of company stock valued at $7,140,167. 11.44% of the stock is currently owned by insiders.
Alphabet Trading Down 1.4 %
Alphabet (NASDAQ:GOOGL – Get Rating) last posted its quarterly earnings data on Thursday, February 2nd. The information services provider reported $1.05 earnings per share 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 firm had revenue of $76.05 billion for the quarter, compared to the consensus estimate of $63.15 billion. During the same period in the prior year, the company earned $1.53 EPS. Analysts predict that Alphabet Inc. will post 5.12 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of equities analysts recently weighed in on the stock. Tigress Financial lowered their target price on shares of Alphabet from $186.00 to $160.00 and set a “strong-buy” rating on the stock in a report on Friday, January 6th. Roth Capital restated a “buy” rating on shares of Alphabet in a report on Friday, February 3rd. Loop Capital boosted their target price on shares of Alphabet from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, February 8th. Credit Suisse Group lowered their target price on shares of Alphabet from $145.00 to $136.00 and set an “outperform” rating on the stock in a report on Friday, February 3rd. Finally, Needham & Company LLC restated a “buy” rating and set a $115.00 target price on shares of Alphabet in a report on Wednesday, March 8th. Four analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet currently 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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