Dock Street Asset Management Inc. increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 8.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 231,903 shares of the information services provider’s stock after acquiring an additional 18,369 shares during the period. Alphabet makes up approximately 4.7% of Dock Street Asset Management Inc.’s portfolio, making the stock its 5th biggest holding. Dock Street Asset Management Inc.’s holdings in Alphabet were worth $20,577,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of GOOG. OLD Second National Bank of Aurora grew its holdings in Alphabet by 1,900.0% during the third quarter. OLD Second National Bank of Aurora now owns 260 shares of the information services provider’s stock worth $25,000 after acquiring an additional 247 shares during the period. Westchester Capital Management Inc. boosted its position in Alphabet by 1,900.0% during the third quarter. Westchester Capital Management Inc. now owns 260 shares of the information services provider’s stock worth $25,000 after purchasing an additional 247 shares in the last quarter. Carolina Wealth Advisors LLC boosted its position in Alphabet by 1,900.0% during the third quarter. Carolina Wealth Advisors LLC now owns 300 shares of the information services provider’s stock worth $29,000 after purchasing an additional 285 shares in the last quarter. Saban Cheryl boosted its position in Alphabet by 1,900.0% during the third quarter. Saban Cheryl now owns 200 shares of the information services provider’s stock worth $29,000 after purchasing an additional 190 shares in the last quarter. Finally, Gould Capital LLC boosted its position in Alphabet by 2,150.0% during the third quarter. Gould Capital LLC now owns 315 shares of the information services provider’s stock worth $30,000 after purchasing an additional 301 shares in the last quarter. Institutional investors and hedge funds own 28.69% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms have commented on GOOG. Bank of America boosted their target price on Alphabet from $116.00 to $119.00 and gave the stock a “buy” rating in a research report on Tuesday, January 31st. Cowen decreased their target price on Alphabet from $135.00 to $125.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 11th. Royal Bank of Canada set a $130.00 target price on Alphabet in a research report on Friday, February 3rd. Sanford C. Bernstein set a $130.00 target price on Alphabet in a research report on Monday, February 6th. Finally, Credit Suisse Group set a $136.00 price objective on Alphabet in a research report on Friday, February 3rd. One analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $135.11.
Alphabet Stock Up 0.2 %
Alphabet (NASDAQ:GOOG – Get Rating) last issued its quarterly earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). The business had revenue of $76.05 billion during the quarter, compared to analyst estimates of $76.49 billion. Alphabet had a return on equity of 23.54% and a net margin of 21.20%. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.53 earnings per share. On average, research analysts forecast that Alphabet Inc. will post 5.11 EPS for the current year.
Insider Activity
In other news, SVP Prabhakar Raghavan sold 32,379 shares of Alphabet stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $103.46, for a total value of $3,349,931.34. Following the transaction, the senior vice president now directly owns 76,580 shares of the company’s stock, valued at approximately $7,922,966.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Prabhakar Raghavan sold 32,379 shares of Alphabet stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $103.46, for a total value of $3,349,931.34. Following the transaction, the senior vice president now directly owns 76,580 shares of the company’s stock, valued at approximately $7,922,966.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ann Mather sold 340 shares of the firm’s stock in a transaction dated Wednesday, January 25th. The shares were sold at an average price of $96.92, for a total value of $32,952.80. Following the sale, the director now owns 11,300 shares in the company, valued at $1,095,196. The disclosure for this sale can be found here. Insiders have sold 112,192 shares of company stock valued at $11,373,417 in the last three months. Corporate insiders own 12.99% of the company’s stock.
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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