Drive Wealth Management LLC boosted its position in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 31.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,471 shares of the information services provider’s stock after acquiring an additional 3,456 shares during the quarter. Drive Wealth Management LLC’s holdings in Alphabet were worth $1,284,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also added to or reduced their stakes in the company. Asio Capital LLC lifted its position in Alphabet by 4.2% in the fourth quarter. Asio Capital LLC now owns 77,158 shares of the information services provider’s stock valued at $6,846,000 after purchasing an additional 3,096 shares during the last quarter. Tanager Wealth Management LLP lifted its holdings in Alphabet by 17.5% in the 4th quarter. Tanager Wealth Management LLP now owns 83,959 shares of the information services provider’s stock worth $7,450,000 after buying an additional 12,481 shares during the period. Heritage Financial Services LLC grew its position in shares of Alphabet by 19.3% in the 4th quarter. Heritage Financial Services LLC now owns 3,387 shares of the information services provider’s stock worth $301,000 after buying an additional 547 shares during the last quarter. Baldwin Brothers LLC MA increased its stake in shares of Alphabet by 59.2% during the fourth quarter. Baldwin Brothers LLC MA now owns 95,387 shares of the information services provider’s stock valued at $8,464,000 after buying an additional 35,473 shares during the period. Finally, Vantage Investment Partners LLC lifted its stake in Alphabet by 8.2% in the fourth quarter. Vantage Investment Partners LLC now owns 254,862 shares of the information services provider’s stock worth $22,614,000 after acquiring an additional 19,385 shares during the period. Hedge funds and other institutional investors own 28.69% of the company’s stock.
Insider Activity at Alphabet
In other Alphabet news, CAO Amie Thuener O’toole sold 637 shares of the stock in a transaction 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 sale, the chief accounting officer now owns 25,282 shares of the company’s stock, valued at approximately $2,524,913.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 637 shares of the stock in a transaction dated Wednesday, February 1st. The shares were sold at an average price of $99.87, for a total transaction of $63,617.19. Following the completion of 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 legal filing with the SEC, which is accessible through this link. Also, insider John Kent Walker sold 11,313 shares of Alphabet stock in a transaction that occurred on Monday, January 23rd. The stock was sold at an average price of $100.00, for a total transaction of $1,131,300.00. Following the completion of the transaction, the insider now directly owns 41,970 shares in the company, valued at approximately $4,197,000. 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 over the last ninety days. 12.99% of the stock is owned by company insiders.
Alphabet Trading Down 1.8 %
Alphabet (NASDAQ:GOOG – 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 analysts’ consensus estimates of $1.14 by ($0.09). Alphabet had a return on equity of 23.54% and a net margin of 21.20%. The business had revenue of $76.05 billion during the quarter, compared to analysts’ expectations of $76.49 billion. During the same period last year, the company earned $1.53 earnings per share. The firm’s revenue was up 1.0% compared to the same quarter last year. Analysts forecast that Alphabet Inc. will post 5.11 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of research firms have recently commented on GOOG. Royal Bank of Canada set a $130.00 target price on Alphabet in a research note on Friday, February 3rd. Bank of America upped their price target on Alphabet from $116.00 to $119.00 and gave the company a “buy” rating in a report on Tuesday, January 31st. Cowen decreased their price target on shares of Alphabet from $135.00 to $125.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 11th. Credit Suisse Group set a $136.00 price objective on Alphabet in a research note on Friday, February 3rd. Finally, Roth Capital reiterated a “buy” rating on shares of Alphabet in a research note on Friday, February 3rd. One investment analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $135.24.
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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