Front Barnett Associates LLC raised its stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 0.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 354,442 shares of the information services provider’s stock after acquiring an additional 441 shares during the quarter. Alphabet makes up 4.0% of Front Barnett Associates LLC’s holdings, making the stock its 4th biggest position. Front Barnett Associates LLC’s holdings in Alphabet were worth $31,272,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. DC Investments Management LLC purchased a new stake in shares of Alphabet during the 1st quarter valued at approximately $114,000. Bridgefront Capital LLC bought a new stake in Alphabet during the 1st quarter worth approximately $225,000. Worth Asset Management LLC bought a new stake in Alphabet during the 1st quarter worth approximately $206,000. Eudaimonia Advisors LLC increased its holdings in Alphabet by 15.1% during the 1st quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock worth $275,000 after acquiring an additional 13 shares during the period. Finally, Aspire Capital Advisors LLC bought a new stake in Alphabet during the 1st quarter worth approximately $281,000. 34.06% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of analysts recently weighed in on GOOGL shares. Sanford C. Bernstein decreased their target price on shares of Alphabet from $130.00 to $125.00 and set an “outperform” rating on the stock in a report on Thursday, April 20th. Raymond James upped their target price on shares of Alphabet from $119.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, April 26th. Bank of America upped their target price on shares of Alphabet from $125.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday, April 26th. MKM Partners increased their price target on shares of Alphabet from $120.00 to $126.00 in a report on Friday, February 3rd. Finally, Citigroup increased their price target on shares of Alphabet from $120.00 to $130.00 in a report on Wednesday, April 26th. Three research analysts have rated the stock with a hold rating, thirty-five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $130.06.
Alphabet Stock Performance
Alphabet (NASDAQ:GOOGL – Get Rating) last released its earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.11. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. The firm had revenue of $69.79 billion during the quarter, compared to analyst estimates of $57.19 billion. During the same period last year, the business earned $1.23 earnings per share. As a group, analysts expect that Alphabet Inc. will post 5.39 earnings per share for the current fiscal year.
Insider Activity
In other news, CAO Amie Thuener O’toole sold 637 shares of Alphabet stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $107.51, for a total transaction of $68,483.87. Following the completion of the transaction, the chief accounting officer now directly owns 25,937 shares in the company, valued at $2,788,486.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the firm’s stock in a transaction that occurred on Monday, March 13th. The stock was bought at an average cost of $29.29 per share, for a total transaction of $12,155,350.00. Following 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 Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O’toole sold 637 shares of the business’s stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $107.51, for a total transaction of $68,483.87. Following the completion of the transaction, the chief accounting officer now owns 25,937 shares of the company’s stock, valued at $2,788,486.87. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 100,539 shares of company stock worth $10,214,031. Insiders own 11.44% of the company’s stock.
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.
Further Reading
- Get a free copy of the StockNews.com research report on Alphabet (GOOGL)
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