Schmidt P J Investment Management Inc. raised its position in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 6.1% in the 4th quarter, Holdings Channel reports. The fund owned 6,980 shares of the information services provider’s stock after purchasing an additional 400 shares during the period. Schmidt P J Investment Management Inc.’s holdings in Alphabet were worth $616,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of GOOGL. Spreng Capital Management Inc. raised its holdings in shares of Alphabet by 4.0% during the 1st quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock worth $364,000 after buying an additional 5 shares in the last quarter. West Family Investments Inc. raised its holdings in shares of Alphabet by 0.3% during the 1st quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock worth $4,878,000 after buying an additional 6 shares in the last quarter. Maple Capital Management Inc. raised its holdings in shares of Alphabet by 2.1% during the 1st quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock worth $823,000 after buying an additional 6 shares in the last quarter. Private Advisory Group LLC raised its holdings in shares of Alphabet by 1.8% during the 1st quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock worth $1,115,000 after buying an additional 7 shares in the last quarter. Finally, Weik Capital Management raised its holdings in shares of Alphabet by 0.5% during the 1st quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock worth $4,264,000 after buying an additional 8 shares in the last quarter. Institutional investors and hedge funds own 34.06% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on GOOGL. BNP Paribas raised Alphabet from a “neutral” rating to an “outperform” rating and set a $123.00 target price for the company in a report on Friday, March 17th. StockNews.com began coverage on Alphabet in a research report on Thursday, March 16th. They issued a “hold” rating on the stock. Loop Capital upped their price target on Alphabet from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, February 8th. Needham & Company LLC reiterated a “buy” rating and issued a $115.00 price target on shares of Alphabet in a research report on Monday, April 3rd. Finally, Wells Fargo & Company upped their price target on Alphabet from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, February 3rd. Four equities research analysts have rated the stock with a hold rating, thirty-three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.30.
Alphabet Price Performance
Alphabet (NASDAQ:GOOGL – Get Rating) last posted 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 the consensus estimate of $63.15 billion. During the same period in the previous year, the business earned $1.53 earnings per share. Analysts anticipate that Alphabet Inc. will post 5.11 earnings per share for the current year.
Insider Activity at Alphabet
In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at $50,072,045.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the stock in a transaction on Monday, March 13th. The shares were acquired 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 directly owns 1,709,527 shares of the company’s stock, valued at approximately $50,072,045.83. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 637 shares of the firm’s stock in a transaction dated Wednesday, February 1st. The shares were sold at an average price of $99.87, for a total value of $63,617.19. Following the sale, the chief accounting officer now owns 25,282 shares in the company, valued at approximately $2,524,913.34. The disclosure for this sale can be found here. Over the last quarter, insiders sold 100,539 shares of company stock valued at $10,209,164. Company insiders own 11.44% of the company’s stock.
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.
Featured Articles
- Get a free copy of the StockNews.com research report on Alphabet (GOOGL)
- United Parcel Service Delivers A Warning To The Market
- Pulte Homes Is Hosting The Better, More Profitable Open House
- Virios Therapeutics Up 75% on Fibromyalgia Phase 3 Proposal
- A Top Is In For McDonald’s Corporation Stock
- Strong Demand Makes Cleveland-Cliffs an Undervalued Mid-Cap
Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL – Get Rating).
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.
