BerganKDV Wealth Management LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 3.8% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,912 shares of the information services provider’s stock after selling 513 shares during the period. BerganKDV Wealth Management LLC’s holdings in Alphabet were worth $1,139,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Atticus Wealth Management LLC grew its position in Alphabet by 1,936.6% in the fourth quarter. Atticus Wealth Management LLC now owns 19,063 shares of the information services provider’s stock worth $1,682,000 after acquiring an additional 18,127 shares in the last quarter. WealthBridge Capital Management LLC grew its position in Alphabet by 1,822.4% in the fourth quarter. WealthBridge Capital Management LLC now owns 6,959 shares of the information services provider’s stock worth $614,000 after acquiring an additional 6,597 shares in the last quarter. Canal Capital Management LLC boosted its holdings in shares of Alphabet by 0.3% during the 4th quarter. Canal Capital Management LLC now owns 44,743 shares of the information services provider’s stock worth $3,948,000 after buying an additional 112 shares during the period. Kestra Advisory Services LLC boosted its holdings in shares of Alphabet by 15.0% during the 4th quarter. Kestra Advisory Services LLC now owns 594,604 shares of the information services provider’s stock worth $52,462,000 after buying an additional 77,607 shares during the period. Finally, Triumph Capital Management raised its stake in Alphabet by 210.4% during the 4th quarter. Triumph Capital Management now owns 7,940 shares of the information services provider’s stock valued at $701,000 after purchasing an additional 5,382 shares during the last quarter. 34.06% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research firms recently commented on GOOGL. Stifel Nicolaus assumed coverage on shares of Alphabet in a research note on Monday, March 20th. They set a “buy” rating and a $130.00 target price for the company. Jefferies Financial Group reissued a “buy” rating and set a $130.00 price objective on shares of Alphabet in a report on Friday, February 10th. Roth Capital reissued a “buy” rating on shares of Alphabet in a report on Friday, February 3rd. Piper Sandler reduced their target price on shares of Alphabet from $120.00 to $117.00 and set an “outperform” rating on the stock in a research note on Friday, March 31st. Finally, UBS Group increased their price target on shares of Alphabet from $120.00 to $123.00 and gave the company a “buy” rating in a research report on Thursday, April 6th. Four research analysts have rated the stock with a hold rating, thirty-three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.30.
Alphabet Trading Up 0.1 %
Alphabet (NASDAQ:GOOGL – Get Rating) last issued its quarterly earnings results on Thursday, February 2nd. The information services provider reported $1.05 EPS 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 company had revenue of $76.05 billion during the quarter, compared to analysts’ expectations of $63.15 billion. During the same quarter in the previous year, the company earned $1.53 EPS. Sell-side analysts expect 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 dated 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 sale, 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 Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the business’s stock in a transaction that occurred on Monday, March 13th. The stock was purchased at an average price of $29.29 per share, for a total transaction of $12,155,350.00. Following the completion of the transaction, the insider now owns 1,709,527 shares of the company’s stock, valued at approximately $50,072,045.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Prabhakar Raghavan sold 32,379 shares of the firm’s 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 of the company’s stock, valued at approximately $7,922,966.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 112,192 shares of company stock worth $11,373,417. 11.44% of the stock is owned by corporate insiders.
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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