Cambiar Investors LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 9.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 504,868 shares of the information services provider’s stock after acquiring an additional 42,589 shares during the period. Alphabet makes up about 2.0% of Cambiar Investors LLC’s portfolio, making the stock its 14th largest holding. Cambiar Investors LLC’s holdings in Alphabet were worth $44,545,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in GOOGL. Willow Creek Wealth Management Inc. lifted its stake in Alphabet by 1,926.9% in the 3rd quarter. Willow Creek Wealth Management Inc. now owns 18,546 shares of the information services provider’s stock valued at $1,774,000 after purchasing an additional 17,631 shares during the last quarter. Bfsg LLC raised its position in Alphabet by 160.5% in the fourth quarter. Bfsg LLC now owns 8,075 shares of the information services provider’s stock valued at $712,000 after purchasing an additional 4,975 shares during the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of Alphabet during the third quarter valued at about $55,305,000. Griffin Asset Management Inc. grew its holdings in shares of Alphabet by 1,900.0% during the third quarter. Griffin Asset Management Inc. now owns 52,240 shares of the information services provider’s stock worth $4,997,000 after purchasing an additional 49,628 shares during the last quarter. Finally, Bridgewater Advisors Inc. boosted its position in Alphabet by 3,005.0% during the 3rd quarter. Bridgewater Advisors Inc. now owns 67,503 shares of the information services provider’s stock worth $6,457,000 after buying an additional 65,329 shares during the period. Institutional investors and hedge funds own 34.06% of the company’s stock.
Alphabet Stock Performance
Shares of GOOGL stock opened at $107.59 on Friday. The firm has a market capitalization of $1.38 trillion, a price-to-earnings ratio of 23.64, a PEG ratio of 1.44 and a beta of 1.10. The stock has a fifty day moving average of $99.94 and a 200 day moving average of $96.57. Alphabet Inc. has a 52 week low of $83.34 and a 52 week high of $122.85. The company has a quick ratio of 2.34, a current ratio of 2.38 and a debt-to-equity ratio of 0.06.
Insiders Place Their Bets
In related news, SVP Prabhakar Raghavan sold 32,379 shares of Alphabet stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $103.46, for a total value of $3,349,931.34. Following the completion of the sale, the senior vice president now directly owns 76,580 shares in the company, valued at approximately $7,922,966.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Alphabet 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 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 $7,922,966.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 29,006 shares of the business’s stock in a transaction dated Wednesday, March 29th. The shares were sold at an average price of $101.84, for a total value of $2,953,971.04. Following the sale, the insider now owns 24,277 shares of the company’s stock, valued at $2,472,369.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 100,539 shares of company stock valued at $10,209,164. Corporate insiders own 11.44% of the company’s stock.
Wall Street Analyst Weigh In
GOOGL has been the subject of several recent research reports. StockNews.com upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a research report on Wednesday. Robert W. Baird raised their target price on Alphabet from $120.00 to $123.00 and gave the stock an “outperform” rating in a research report on Wednesday. Jefferies Financial Group reaffirmed a “buy” rating and issued a $130.00 price objective on shares of Alphabet in a research note on Friday, February 10th. Stifel Nicolaus began coverage on shares of Alphabet in a research report on Monday, March 20th. They set a “buy” rating and a $130.00 price target on the stock. Finally, Roth Mkm lifted their price objective on Alphabet from $126.00 to $134.00 and gave the stock a “buy” rating in a research report on Wednesday. Three analysts have rated the stock with a hold rating, thirty-five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $130.06.
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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