Latitude Advisors LLC cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 9.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,728 shares of the information services provider’s stock after selling 1,071 shares during the period. Alphabet accounts for approximately 0.7% of Latitude Advisors LLC’s investment portfolio, making the stock its 24th biggest holding. Latitude Advisors LLC’s holdings in Alphabet were worth $947,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in GOOGL. Bornite Capital Management LP acquired a new position in shares of Alphabet in the 1st quarter valued at $16,688,000. Markel Corp increased its position in shares of Alphabet by 17.0% in the 1st quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock valued at $43,110,000 after acquiring an additional 2,250 shares during the period. United Bank increased its position in shares of Alphabet by 5.9% in the 1st quarter. United Bank now owns 2,033 shares of the information services provider’s stock valued at $5,654,000 after acquiring an additional 113 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Alphabet by 23.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock valued at $900,929,000 after acquiring an additional 61,427 shares during the period. Finally, Dakota Wealth Management increased its position in shares of Alphabet by 20.4% in the 1st quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock valued at $25,806,000 after acquiring an additional 1,570 shares during the period. 34.06% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities analysts recently issued reports on GOOGL shares. StockNews.com started coverage on Alphabet in a research report on Thursday, March 16th. They issued a “hold” rating on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $132.00 price target on shares of Alphabet in a report on Thursday, March 16th. New Street Research started coverage on shares of Alphabet in a report on Wednesday, January 4th. They issued a “buy” rating and a $118.00 price target on the stock. Piper Sandler lowered their price target on shares of Alphabet from $120.00 to $117.00 and set an “outperform” rating on the stock in a report on Friday, March 31st. Finally, KeyCorp lowered their price target on shares of Alphabet from $118.00 to $117.00 and set an “overweight” rating on the stock in a report on Monday, January 30th. Four research analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $131.17.
Alphabet Stock Up 1.3 %
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 (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). The firm had revenue of $76.05 billion for the quarter, compared to analyst estimates of $63.15 billion. Alphabet had a return on equity of 23.54% and a net margin of 21.20%. During the same quarter in the prior year, the business earned $1.53 EPS. On average, equities research analysts predict that Alphabet Inc. will post 5.11 earnings per share for the current year.
Insider Buying and Selling
In related news, SVP Prabhakar Raghavan sold 32,379 shares of the stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $103.46, for a total transaction of $3,349,931.34. Following the completion of the transaction, the senior vice president now owns 76,580 shares of the company’s stock, valued at approximately $7,922,966.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the company’s stock in a transaction on Monday, March 13th. The stock was acquired at an average price of $29.29 per share, for a total transaction of $12,155,350.00. Following the completion of the purchase, the insider now directly owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, SVP Prabhakar Raghavan sold 32,379 shares of the business’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 transaction, the senior vice president now owns 76,580 shares of the company’s stock, valued at approximately $7,922,966.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 112,192 shares of company stock valued at $11,373,417. Company 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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