Founders Capital Management LLC raised its position in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 13.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 73,766 shares of the information services provider’s stock after acquiring an additional 8,928 shares during the period. Alphabet makes up about 1.7% of Founders Capital Management LLC’s holdings, making the stock its 20th largest position. Founders Capital Management LLC’s holdings in Alphabet were worth $6,508,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in GOOGL. IAG Wealth Partners LLC boosted its position in shares of Alphabet by 3,275.0% during the third quarter. IAG Wealth Partners LLC now owns 270 shares of the information services provider’s stock valued at $26,000 after buying an additional 262 shares during the last quarter. Artemis Wealth Advisors LLC boosted its position in shares of Alphabet by 1,900.0% during the third quarter. Artemis Wealth Advisors LLC now owns 280 shares of the information services provider’s stock valued at $27,000 after buying an additional 266 shares during the last quarter. Laurel Wealth Planning LLC boosted its position in shares of Alphabet by 1,900.0% during the third quarter. Laurel Wealth Planning LLC now owns 300 shares of the information services provider’s stock valued at $29,000 after buying an additional 285 shares during the last quarter. Coston McIsaac & Partners boosted its position in shares of Alphabet by 1,900.0% during the third quarter. Coston McIsaac & Partners now owns 320 shares of the information services provider’s stock valued at $30,000 after buying an additional 304 shares during the last quarter. Finally, Horizons Wealth Management purchased a new position in shares of Alphabet during the second quarter valued at approximately $33,000. Institutional investors and hedge funds own 34.06% of the company’s stock.
Alphabet Stock Performance
NASDAQ:GOOGL opened at $103.73 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.34 and a current ratio of 2.38. Alphabet Inc. has a 52-week low of $83.34 and a 52-week high of $143.79. The firm has a market cap of $1.33 trillion, a price-to-earnings ratio of 22.79, a PEG ratio of 1.40 and a beta of 1.09. The business’s fifty day moving average is $97.34 and its 200 day moving average is $95.80.
Insiders Place Their Bets
In other news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of Alphabet stock in a transaction dated Monday, March 13th. The shares were purchased at an average cost 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 of the company’s stock, valued at $50,072,045.83. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of Alphabet stock in a transaction dated Monday, March 13th. The shares were purchased at an average cost 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 of the company’s stock, valued at $50,072,045.83. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Prabhakar Raghavan sold 22,203 shares of the stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $89.75, for a total value of $1,992,719.25. Following the transaction, the senior vice president now owns 76,579 shares in the company, valued at $6,872,965.25. The disclosure for this sale can be found here. Insiders have sold 102,871 shares of company stock worth $10,094,138 in the last ninety days. 11.44% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on GOOGL. StockNews.com began coverage on Alphabet in a research report on Thursday, March 16th. They set a “hold” rating on the stock. Roth Capital reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday, February 3rd. JMP Securities reissued a “market outperform” rating and issued a $132.00 price objective on shares of Alphabet in a research report on Thursday, March 16th. Piper Sandler cut their price objective on Alphabet from $120.00 to $117.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, BNP Paribas raised Alphabet from a “neutral” rating to an “outperform” rating and set a $123.00 price objective on the stock in a research report on Friday, March 17th. Four research analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target 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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