Alterity Financial Group LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 6.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 34,708 shares of the information services provider’s stock after selling 2,285 shares during the quarter. Alphabet comprises 5.0% of Alterity Financial Group LLC’s holdings, making the stock its 2nd largest position. Alterity Financial Group LLC’s holdings in Alphabet were worth $3,062,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOGL. VitalStone Financial LLC acquired a new position in Alphabet in the 4th quarter worth approximately $25,000. IAG Wealth Partners LLC increased its holdings in Alphabet by 3,275.0% in the 3rd quarter. IAG Wealth Partners LLC now owns 270 shares of the information services provider’s stock worth $26,000 after buying an additional 262 shares during the period. Artemis Wealth Advisors LLC increased its holdings in Alphabet by 1,900.0% in the 3rd quarter. Artemis Wealth Advisors LLC now owns 280 shares of the information services provider’s stock worth $27,000 after buying an additional 266 shares during the period. Laurel Wealth Planning LLC increased its holdings in Alphabet by 1,900.0% in the 3rd quarter. Laurel Wealth Planning LLC now owns 300 shares of the information services provider’s stock worth $29,000 after buying an additional 285 shares during the period. Finally, Coston McIsaac & Partners increased its holdings in Alphabet by 1,900.0% in the 3rd quarter. Coston McIsaac & Partners now owns 320 shares of the information services provider’s stock worth $30,000 after buying an additional 304 shares during the period. 34.06% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities analysts recently weighed in on GOOGL shares. Credit Suisse Group cut their price target on shares of Alphabet from $145.00 to $136.00 and set an “outperform” rating on the stock in a report on Friday, February 3rd. Tigress Financial dropped their price target on shares of Alphabet from $186.00 to $160.00 and set a “strong-buy” rating on the stock in a research note on Friday, January 6th. Morgan Stanley lifted their price target on shares of Alphabet from $125.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, February 3rd. Piper Sandler decreased their price objective on Alphabet from $120.00 to $117.00 and set an “outperform” rating on the stock in a report on Friday, March 31st. Finally, Bank of America raised their price objective on Alphabet from $116.00 to $119.00 and gave the company a “buy” rating in a report on Tuesday, January 31st. Four analysts have rated the stock with a hold rating, thirty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $131.30.
Alphabet Price Performance
Alphabet (NASDAQ:GOOGL – Get Rating) last posted 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). Alphabet had a net margin of 21.20% and a return on equity of 23.54%. The firm had revenue of $76.05 billion during the quarter, compared to analyst estimates of $63.15 billion. During the same period in the previous year, the company posted $1.53 earnings per share. As a group, equities analysts anticipate that Alphabet Inc. will post 5.11 EPS for the current year.
Insider Buying and Selling
In related news, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the firm’s stock in a transaction that occurred on Monday, March 13th. The stock was purchased at an average cost of $29.29 per share, with a total value of $12,155,350.00. Following the completion of the acquisition, the insider now directly owns 1,709,527 shares in the company, valued at $50,072,045.83. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the business’s stock in a transaction 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 available through this link. Also, Director Ann Mather sold 340 shares of the stock in a transaction on Wednesday, January 25th. The stock was sold at an average price of $96.92, for a total value of $32,952.80. Following the completion of the transaction, the director now owns 11,300 shares of the company’s stock, valued at approximately $1,095,196. The disclosure for this sale can be found here. Insiders sold a total of 112,192 shares of company stock valued at $11,373,417 over the last three months. 11.44% of the stock is currently owned by company insiders.
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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