Mitsubishi UFJ Asset Management UK Ltd. grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 437.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,000 shares of the information services provider’s stock after purchasing an additional 35,000 shares during the quarter. Alphabet comprises about 2.6% of Mitsubishi UFJ Asset Management UK Ltd.’s investment portfolio, making the stock its 7th biggest position. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in Alphabet were worth $3,794,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. VitalStone Financial LLC bought a new position in shares of Alphabet during the 4th quarter worth about $25,000. IAG Wealth Partners LLC increased its holdings in shares of Alphabet by 3,275.0% during the 3rd quarter. IAG Wealth Partners LLC now owns 270 shares of the information services provider’s stock worth $26,000 after purchasing an additional 262 shares during the period. Artemis Wealth Advisors LLC increased its holdings in shares of Alphabet by 1,900.0% during the 3rd quarter. Artemis Wealth Advisors LLC now owns 280 shares of the information services provider’s stock worth $27,000 after purchasing an additional 266 shares during the period. Laurel Wealth Planning LLC increased its holdings in shares of Alphabet by 1,900.0% during the 3rd quarter. Laurel Wealth Planning LLC now owns 300 shares of the information services provider’s stock worth $29,000 after purchasing an additional 285 shares during the period. Finally, Coston McIsaac & Partners increased its holdings in shares of Alphabet by 1,900.0% during the 3rd quarter. Coston McIsaac & Partners now owns 320 shares of the information services provider’s stock worth $30,000 after purchasing an additional 304 shares during the period. Institutional investors own 34.06% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on GOOGL. Wolfe Research lifted their target price on shares of Alphabet from $120.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, April 26th. UBS Group boosted their price target on shares of Alphabet from $120.00 to $123.00 and gave the company a “buy” rating in a research report on Thursday, April 6th. Bank of America boosted their price target on shares of Alphabet from $125.00 to $128.00 and gave the company a “buy” rating in a research report on Wednesday, April 26th. Wells Fargo & Company boosted their price target on shares of Alphabet from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, February 3rd. Finally, Needham & Company LLC restated a “buy” rating and issued a $115.00 price target on shares of Alphabet in a research report on Monday, April 3rd. Three investment analysts have rated the stock with a hold rating, thirty-five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $130.06.
Alphabet Price Performance
Alphabet (NASDAQ:GOOGL – Get Rating) last issued its quarterly earnings data on Tuesday, April 25th. The information services provider reported $1.17 EPS for the quarter, beating the consensus estimate of $1.06 by $0.11. The company had revenue of $69.79 billion during the quarter, compared to analysts’ expectations of $57.19 billion. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. During the same quarter in the previous year, the company earned $1.23 earnings per share. As a group, sell-side analysts forecast that Alphabet Inc. will post 5.39 EPS for the current fiscal year.
Insiders Place Their Bets
In other Alphabet news, Director Kavitark Ram Shriram sold 37,500 shares of the business’s stock in a transaction that occurred on Friday, May 5th. The shares were sold at an average price of $105.04, for a total value of $3,939,000.00. Following the completion of the transaction, the director now owns 107,240 shares of the company’s stock, valued at approximately $11,264,489.60. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Alphabet news, Director Kavitark Ram Shriram sold 37,500 shares of the business’s stock in a transaction that occurred on Friday, May 5th. The shares were sold at an average price of $105.04, for a total value of $3,939,000.00. Following the completion of the transaction, the director now owns 107,240 shares of the company’s stock, valued at approximately $11,264,489.60. The transaction was disclosed in a filing with the SEC, which is available through 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 directly owns 25,937 shares of the company’s stock, valued at approximately $2,788,486.87. The disclosure for this sale can be found here. Insiders sold a total of 138,039 shares of company stock valued at $14,153,031 in the last quarter. 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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