Defined Wealth Management LLC acquired a new position in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,350 shares of the information services provider’s stock, valued at approximately $207,000.
Other institutional investors have also added to or reduced their stakes in the company. Monte Financial Group LLC boosted its stake in Alphabet by 8.1% in the fourth quarter. Monte Financial Group LLC now owns 6,364 shares of the information services provider’s stock valued at $561,000 after acquiring an additional 475 shares during the last quarter. LexAurum Advisors LLC boosted its stake in Alphabet by 2.8% in the fourth quarter. LexAurum Advisors LLC now owns 9,110 shares of the information services provider’s stock valued at $804,000 after acquiring an additional 250 shares during the last quarter. Moisand Fitzgerald Tamayo LLC boosted its stake in Alphabet by 25.1% in the fourth quarter. Moisand Fitzgerald Tamayo LLC now owns 963 shares of the information services provider’s stock valued at $85,000 after acquiring an additional 193 shares during the last quarter. Astoria Portfolio Advisors LLC. boosted its stake in Alphabet by 10.6% in the fourth quarter. Astoria Portfolio Advisors LLC. now owns 11,331 shares of the information services provider’s stock valued at $1,111,000 after acquiring an additional 1,086 shares during the last quarter. Finally, Domani Wealth LLC boosted its stake in Alphabet by 19.4% in the fourth quarter. Domani Wealth LLC now owns 3,080 shares of the information services provider’s stock valued at $272,000 after acquiring an additional 500 shares during the last quarter. 34.06% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other news, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the business’s stock in a transaction on Monday, March 13th. The shares were acquired at an average price of $29.29 per share, with a total value of $12,155,350.00. Following the acquisition, the insider now directly owns 1,709,527 shares in the company, valued at $50,072,045.83. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the business’s stock in a transaction on Monday, March 13th. The shares were acquired at an average price of $29.29 per share, with a total value of $12,155,350.00. Following the acquisition, the insider now directly owns 1,709,527 shares in the company, valued at $50,072,045.83. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Prabhakar Raghavan sold 32,379 shares of the firm’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $103.46, for a total transaction of $3,349,931.34. Following the completion of the sale, the senior vice president now directly owns 76,580 shares in the company, valued at approximately $7,922,966.80. The disclosure for this sale can be found here. Insiders have sold a total of 112,192 shares of company stock valued at $11,373,417 in the last quarter. Insiders own 11.44% of the company’s stock.
Alphabet Price Performance
Alphabet (NASDAQ:GOOGL – Get Rating) last released 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). The business had revenue of $76.05 billion for the quarter, compared to the consensus estimate of $63.15 billion. Alphabet had a net margin of 21.20% and a return on equity of 23.54%. During the same period in the prior year, the business posted $1.53 EPS. Research analysts predict that Alphabet Inc. will post 5.11 earnings per share for the current year.
Wall Street Analysts Forecast Growth
GOOGL has been the topic of a number of research analyst reports. New Street Research assumed coverage on shares of Alphabet in a research note on Wednesday, January 4th. They issued a “buy” rating and a $118.00 target price on the stock. Loop Capital upped their price target on shares of Alphabet from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, February 8th. StockNews.com assumed coverage on shares of Alphabet in a research note on Thursday, March 16th. They set a “hold” rating on the stock. Wells Fargo & Company upped their price target on shares of Alphabet from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, February 3rd. Finally, Needham & Company LLC restated a “buy” rating and set a $115.00 price target on shares of Alphabet in a research note on Monday. Four analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $131.39.
About Alphabet
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.
Further Reading
- Get a free copy of the StockNews.com research report on Alphabet (GOOGL)
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