Clarius Group LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 17.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 106,864 shares of the information services provider’s stock after selling 22,075 shares during the quarter. Alphabet accounts for 0.8% of Clarius Group LLC’s investment portfolio, making the stock its 15th biggest holding. Clarius Group LLC’s holdings in Alphabet were worth $9,429,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the business. Willow Creek Wealth Management Inc. lifted its position in shares of Alphabet by 1,926.9% during the third quarter. Willow Creek Wealth Management Inc. now owns 18,546 shares of the information services provider’s stock worth $1,774,000 after purchasing an additional 17,631 shares in the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of Alphabet in the 3rd quarter valued at about $55,305,000. Griffin Asset Management Inc. boosted its holdings in Alphabet by 1,900.0% during the third quarter. Griffin Asset Management Inc. now owns 52,240 shares of the information services provider’s stock worth $4,997,000 after purchasing an additional 49,628 shares during the last quarter. Bridgewater Advisors Inc. increased its holdings in Alphabet by 3,005.0% during the third quarter. Bridgewater Advisors Inc. now owns 67,503 shares of the information services provider’s stock worth $6,457,000 after buying an additional 65,329 shares during the last quarter. Finally, Adell Harriman & Carpenter Inc. lifted its position in shares of Alphabet by 1,915.2% in the third quarter. Adell Harriman & Carpenter Inc. now owns 129,797 shares of the information services provider’s stock valued at $12,415,000 after buying an additional 123,356 shares during the last quarter. 34.06% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research firms have commented on GOOGL. Loop Capital raised their target price on shares of Alphabet from $120.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, February 8th. Rosenblatt Securities reduced their price target on shares of Alphabet from $130.00 to $128.00 and set a “buy” rating for the company in a report on Friday, February 3rd. New Street Research started coverage on Alphabet in a research note on Wednesday, January 4th. They issued a “buy” rating and a $118.00 price objective for the company. 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. Finally, Evercore ISI lowered their price objective on Alphabet from $130.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 21st. Four research analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $131.17.
Alphabet Stock Performance
Alphabet (NASDAQ:GOOGL – Get Rating) last announced its quarterly earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). The firm had revenue of $76.05 billion during the quarter, compared to analysts’ expectations 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 business earned $1.53 EPS. On average, equities research analysts expect that Alphabet Inc. will post 5.11 earnings per share for the current year.
Insider Buying and Selling at Alphabet
In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the company’s stock in a transaction dated Monday, March 13th. The stock was acquired at an average cost of $29.29 per share, with a total value of $12,155,350.00. Following the purchase, the insider now directly owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CAO Amie Thuener O’toole sold 637 shares of the firm’s stock in a transaction that occurred on Wednesday, February 1st. The shares were sold at an average price of $99.87, for a total value of $63,617.19. Following the sale, the chief accounting officer now directly owns 25,282 shares of the company’s stock, valued at $2,524,913.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the stock in a transaction that occurred on Monday, March 13th. The stock was bought at an average price of $29.29 per share, with a total value of $12,155,350.00. Following the completion of the acquisition, the insider now owns 1,709,527 shares of the company’s stock, valued at approximately $50,072,045.83. The disclosure for this purchase can be found here. Insiders have sold 112,192 shares of company stock valued at $11,373,417 over the last quarter. Corporate insiders own 11.44% of the company’s stock.
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.
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