Centerpoint Advisors LLC raised its stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,036 shares of the information services provider’s stock after purchasing an additional 346 shares during the quarter. Alphabet comprises about 1.4% of Centerpoint Advisors LLC’s investment portfolio, making the stock its 19th biggest position. Centerpoint Advisors LLC’s holdings in Alphabet were worth $2,915,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently added to or reduced their stakes in GOOGL. Hendershot Investments Inc. grew its stake in shares of Alphabet by 5.4% during the fourth quarter. Hendershot Investments Inc. now owns 184,623 shares of the information services provider’s stock valued at $16,289,000 after acquiring an additional 9,481 shares in the last quarter. Occidental Asset Management LLC grew its stake in shares of Alphabet by 5.2% during the fourth quarter. Occidental Asset Management LLC now owns 4,860 shares of the information services provider’s stock valued at $429,000 after acquiring an additional 240 shares in the last quarter. Foster Group Inc. grew its stake in shares of Alphabet by 16.7% during the fourth quarter. Foster Group Inc. now owns 17,178 shares of the information services provider’s stock valued at $1,516,000 after acquiring an additional 2,457 shares in the last quarter. Xponance Inc. grew its stake in shares of Alphabet by 10.4% during the fourth quarter. Xponance Inc. now owns 1,288,330 shares of the information services provider’s stock valued at $113,669,000 after acquiring an additional 121,826 shares in the last quarter. Finally, Carnegie Capital Asset Management LLC grew its stake in shares of Alphabet by 1.7% during the fourth quarter. Carnegie Capital Asset Management LLC now owns 409,433 shares of the information services provider’s stock valued at $36,124,000 after acquiring an additional 6,942 shares in the last quarter. 34.06% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other Alphabet news, SVP Prabhakar Raghavan sold 32,379 shares of Alphabet stock in a transaction that occurred on Monday, April 3rd. The shares were 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 owns 76,580 shares in the company, valued at $7,922,966.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Alphabet news, insider John Kent Walker sold 11,313 shares of Alphabet stock in a transaction that occurred on Monday, January 23rd. The shares were sold at an average price of $100.00, for a total transaction of $1,131,300.00. Following the transaction, the insider now directly owns 41,970 shares in the company, valued at approximately $4,197,000. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Prabhakar Raghavan sold 32,379 shares of Alphabet stock in a transaction that occurred 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 transaction, the senior vice president now owns 76,580 shares in the company, valued at $7,922,966.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 112,192 shares of company stock worth $11,373,417. 11.44% of the stock is owned by insiders.
Alphabet Price Performance
Alphabet (NASDAQ:GOOGL – Get Rating) last announced 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 firm 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 period in the previous year, the firm earned $1.53 EPS. Equities research analysts anticipate that Alphabet Inc. will post 5.11 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on GOOGL. BNP Paribas upgraded Alphabet from a “neutral” rating to an “outperform” rating and set a $123.00 target price for the company in a research note on Friday, March 17th. Roth Capital reiterated a “buy” rating on shares of Alphabet in a research note on Friday, February 3rd. UBS Group lifted their price target on Alphabet from $120.00 to $123.00 and gave the stock a “buy” rating in a research note on Thursday. Morgan Stanley lifted their price target on Alphabet from $125.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, February 3rd. Finally, Needham & Company LLC reiterated a “buy” rating and issued 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 given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $131.17.
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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