Brave Asset Management Inc. raised its position in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 7.9% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 13,620 shares of the information services provider’s stock after acquiring an additional 1,000 shares during the period. Brave Asset Management Inc.’s holdings in Alphabet were worth $1,202,000 as of its most recent filing with the SEC.
Other institutional investors have also recently bought and sold shares of the company. Willow Creek Wealth Management Inc. lifted its stake in 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 valued at $1,774,000 after acquiring an additional 17,631 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of Alphabet during the 3rd quarter worth approximately $55,305,000. Griffin Asset Management Inc. raised its stake in shares of Alphabet by 1,900.0% during 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. raised its stake in shares of Alphabet by 3,005.0% during 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. raised its stake in shares of Alphabet by 1,915.2% during 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 own 34.06% of the company’s stock.
Insider Buying and Selling
In other news, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the firm’s stock in a transaction on Monday, March 13th. The stock was acquired at an average cost of $29.29 per share, with a total value of $12,155,350.00. Following the completion of the transaction, the insider now directly owns 1,709,527 shares of the company’s stock, valued at approximately $50,072,045.83. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of Alphabet stock in a transaction dated Monday, March 13th. The stock was bought at an average cost of $29.29 per share, for a total transaction of $12,155,350.00. Following the completion of the transaction, the insider now owns 1,709,527 shares in the company, valued at $50,072,045.83. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Kent Walker sold 29,006 shares of Alphabet stock in a transaction on Wednesday, March 29th. The shares were sold at an average price of $101.84, for a total value of $2,953,971.04. Following the completion of the transaction, the insider now owns 24,277 shares of the company’s stock, valued at $2,472,369.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 102,871 shares of company stock worth $10,094,138. 11.44% of the stock is owned by company insiders.
Alphabet Stock Performance
Alphabet (NASDAQ:GOOGL – Get Rating) last issued its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $63.15 billion. Alphabet had a return on equity of 23.54% and a net margin of 21.20%. During the same quarter last year, the business posted $1.53 earnings per share. As a group, analysts anticipate that Alphabet Inc. will post 5.12 EPS for the current year.
Analysts Set New Price Targets
GOOGL has been the topic of a number of analyst reports. Rosenblatt Securities dropped their price objective on Alphabet from $130.00 to $128.00 and set a “buy” rating on the stock in a research note on Friday, February 3rd. Credit Suisse Group dropped their price objective on Alphabet from $145.00 to $136.00 and set an “outperform” rating on the stock in a research note on Friday, February 3rd. StockNews.com initiated coverage on Alphabet in a report on Thursday, March 16th. They set a “hold” rating on the stock. Stifel Nicolaus initiated coverage on Alphabet in a report on Monday, March 20th. They set a “buy” rating and a $130.00 target price on the stock. Finally, New Street Research initiated coverage on Alphabet in a report on Wednesday, January 4th. They set a “buy” rating and a $118.00 target price on the stock. Four investment analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $131.39.
Alphabet Company 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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