Mastrapasqua Asset Management Inc. lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 0.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,500 shares of the information services provider’s stock after selling 350 shares during the period. Mastrapasqua Asset Management Inc.’s holdings in Alphabet were worth $3,750,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of GOOGL. Bornite Capital Management LP acquired a new stake in Alphabet in the 1st quarter valued at approximately $16,688,000. Markel Corp increased its position in shares of Alphabet by 17.0% during the 1st quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock worth $43,110,000 after purchasing an additional 2,250 shares during the last quarter. United Bank increased its position in shares of Alphabet by 5.9% during the 1st quarter. United Bank now owns 2,033 shares of the information services provider’s stock worth $5,654,000 after purchasing an additional 113 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Alphabet by 23.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock worth $900,929,000 after purchasing an additional 61,427 shares during the last quarter. Finally, Dakota Wealth Management increased its position in shares of Alphabet by 20.4% during the 1st quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock worth $25,806,000 after purchasing an additional 1,570 shares during the last quarter. Institutional investors and hedge funds own 34.06% of the company’s stock.
Insider Activity
In related news, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the firm’s stock in a transaction dated 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 purchase, the insider now owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the firm’s stock in a transaction that occurred on Monday, March 13th. The stock was acquired at an average price of $29.29 per share, with a total value of $12,155,350.00. Following the completion of the purchase, the insider now directly owns 1,709,527 shares of the company’s stock, valued at approximately $50,072,045.83. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ann Mather sold 340 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly owns 11,300 shares of the company’s stock, valued at approximately $1,095,196. The disclosure for this sale can be found here. Over 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.
Alphabet Price Performance
Alphabet (NASDAQ:GOOGL – Get Rating) last issued its 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 during 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 period in the previous year, the company earned $1.53 EPS. Analysts anticipate that Alphabet Inc. will post 5.11 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several research firms have weighed in on GOOGL. Bank of America boosted their price target on Alphabet from $116.00 to $119.00 and gave the stock a “buy” rating in a research report on Tuesday, January 31st. StockNews.com assumed coverage on Alphabet in a report on Thursday, March 16th. They set a “hold” rating on the stock. Morgan Stanley boosted their price target on Alphabet from $125.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, February 3rd. Wells Fargo & Company boosted their price target on Alphabet from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, February 3rd. Finally, New Street Research assumed coverage on Alphabet in a research note on Wednesday, January 4th. They issued a “buy” rating and a $118.00 price target for the company. Four investment analysts have rated the stock with a hold rating, thirty-three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $131.30.
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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