Camelot Portfolios LLC acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 3,445 shares of the information services provider’s stock, valued at approximately $304,000.
Several other hedge funds also recently modified their holdings of GOOGL. IAG Wealth Partners LLC boosted its position in Alphabet by 3,275.0% in 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 in the last quarter. Artemis Wealth Advisors LLC raised its stake in shares of Alphabet by 1,900.0% in the third quarter. Artemis Wealth Advisors LLC now owns 280 shares of the information services provider’s stock valued at $27,000 after acquiring an additional 266 shares during the last quarter. Laurel Wealth Planning LLC raised its holdings in shares of Alphabet by 1,900.0% in 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 lifted 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 worth $30,000 after purchasing an additional 304 shares in the last quarter. Finally, Horizons Wealth Management acquired a new position in shares of Alphabet during the second quarter valued at $33,000. 34.06% of the stock is owned by institutional investors.
Insider Activity
In other Alphabet news, CAO Amie Thuener O’toole sold 637 shares of the firm’s stock in a transaction that occurred on Wednesday, February 1st. The stock was sold at an average price of $99.87, for a total value of $63,617.19. Following the completion of the sale, the chief accounting officer now owns 25,282 shares of the company’s stock, valued at $2,524,913.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO Amie Thuener O’toole sold 637 shares of Alphabet stock in a transaction that occurred on Wednesday, February 1st. The stock was sold at an average price of $99.87, for a total transaction of $63,617.19. Following the transaction, the chief accounting officer now owns 25,282 shares of the company’s stock, valued at $2,524,913.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ann Mather sold 340 shares of the stock in a transaction on Wednesday, January 25th. The shares were sold at an average price of $96.92, for a total value of $32,952.80. Following the completion of the sale, the director now directly owns 11,300 shares of the company’s stock, valued at $1,095,196. 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. Company insiders own 11.44% of the company’s stock.
Alphabet Trading Down 1.8 %
Alphabet (NASDAQ:GOOGL – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The information services provider reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.09). The company had revenue of $76.05 billion during 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 quarter in the prior year, the firm earned $1.53 EPS. Research analysts forecast 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 several analyst reports. Jefferies Financial Group reiterated a “buy” rating and issued a $130.00 target price on shares of Alphabet in a report on Friday, February 10th. Stifel Nicolaus began coverage on Alphabet in a report on Monday, March 20th. They set a “buy” rating and a $130.00 price objective for the company. JMP Securities reaffirmed a “market outperform” rating and set a $132.00 price target on shares of Alphabet in a research report on Thursday, March 16th. Barclays lifted their price objective on shares of Alphabet from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Friday, February 3rd. Finally, Truist Financial reduced their target price on shares of Alphabet from $130.00 to $120.00 and set a “buy” rating for the company in a report on Friday, February 3rd. Four analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.17.
Alphabet 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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