Oakworth Capital Inc. boosted its position in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 0.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,300 shares of the information services provider’s stock after acquiring an additional 100 shares during the period. Oakworth Capital Inc.’s holdings in Alphabet were worth $1,438,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Markel Corp boosted its holdings in Alphabet by 4.6% during the fourth quarter. Markel Corp now owns 373,000 shares of the information services provider’s stock worth $32,910,000 after buying an additional 16,500 shares during the last quarter. Klingman & Associates LLC boosted its holdings in Alphabet by 8.1% during the fourth quarter. Klingman & Associates LLC now owns 13,864 shares of the information services provider’s stock worth $1,223,000 after buying an additional 1,038 shares during the last quarter. Primoris Wealth Advisors LLC boosted its holdings in Alphabet by 4.6% during the fourth quarter. Primoris Wealth Advisors LLC now owns 4,205 shares of the information services provider’s stock worth $371,000 after buying an additional 185 shares during the last quarter. U.S. Capital Wealth Advisors LLC boosted its holdings in Alphabet by 3.6% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 108,840 shares of the information services provider’s stock worth $9,603,000 after buying an additional 3,760 shares during the last quarter. Finally, Loup Funds LLC bought a new position in Alphabet during the fourth quarter worth about $847,000. Institutional investors own 34.06% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts have issued reports on GOOGL shares. Credit Suisse Group reduced their target price on Alphabet from $136.00 to $135.00 and set an “outperform” rating on the stock in a report on Wednesday, April 26th. Needham & Company LLC reiterated a “buy” rating and set a $115.00 price objective on shares of Alphabet in a report on Monday, April 3rd. KeyCorp cut their price objective on Alphabet from $118.00 to $117.00 and set an “overweight” rating on the stock in a report on Monday, January 30th. Tigress Financial cut their price objective on Alphabet from $186.00 to $160.00 and set a “strong-buy” rating on the stock in a report on Friday, January 6th. Finally, StockNews.com upgraded Alphabet from a “hold” rating to a “buy” rating in a report on Wednesday, April 26th. Three equities research analysts have rated the stock with a hold rating, thirty-five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $130.06.
Alphabet Price Performance
Alphabet (NASDAQ:GOOGL – Get Rating) last announced its quarterly earnings data on Tuesday, April 25th. The information services provider reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.11. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. The business had revenue of $69.79 billion during the quarter, compared to the consensus estimate of $57.19 billion. During the same period in the prior year, the company earned $1.23 EPS. On average, sell-side analysts forecast that Alphabet Inc. will post 5.39 EPS for the current fiscal year.
Insiders Place Their Bets
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 related news, SVP Prabhakar Raghavan sold 32,379 shares of the company’s 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 sale, the senior vice president now owns 76,580 shares in the company, valued at approximately $7,922,966.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 shares were acquired at an average price of $29.29 per share, for a total transaction of $12,155,350.00. Following the transaction, the insider now owns 1,709,527 shares in the company, valued at $50,072,045.83. The disclosure for this purchase can be found here. Insiders sold a total of 100,539 shares of company stock valued at $10,209,164 in the last 90 days. Corporate 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.
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