Centre Asset Management LLC bought a new position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 125,341 shares of the information services provider’s stock, valued at approximately $11,088,000. Alphabet comprises 2.9% of Centre Asset Management LLC’s investment portfolio, making the stock its 5th largest position.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. VitalStone Financial LLC bought a new position in Alphabet in the 4th quarter valued at $25,000. IAG Wealth Partners LLC boosted its holdings in Alphabet by 3,275.0% in the third quarter. IAG Wealth Partners LLC now owns 270 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 262 shares during the last quarter. Artemis Wealth Advisors LLC boosted its holdings in Alphabet by 1,900.0% in the third quarter. Artemis Wealth Advisors LLC now owns 280 shares of the information services provider’s stock valued at $27,000 after acquiring an additional 266 shares during the last quarter. Laurel Wealth Planning LLC increased its position in Alphabet by 1,900.0% in the third 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 raised its holdings in 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 last quarter. 34.06% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research analysts have recently issued reports on GOOGL shares. Wells Fargo & Company raised their target price on shares of Alphabet from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, February 3rd. Roth Capital reiterated a “buy” rating on shares of Alphabet in a research report on Friday, February 3rd. UBS Group raised their price target on Alphabet from $120.00 to $123.00 and gave the stock a “buy” rating in a research report on Thursday, April 6th. MKM Partners upped their price objective on Alphabet from $120.00 to $126.00 in a report on Friday, February 3rd. Finally, 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. Three 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $130.06.
Alphabet Trading Up 0.8 %
Alphabet (NASDAQ:GOOGL – Get Rating) last issued its earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.11. The business had revenue of $69.79 billion for the quarter, compared to the consensus estimate of $57.19 billion. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. During the same period in the previous year, the company earned $1.23 earnings per share. Equities research analysts predict that Alphabet Inc. will post 5.39 earnings per share for the current fiscal year.
Insider Activity
In other news, Director Ann Mather sold 380 shares of the firm’s stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $90.05, for a total value of $34,219.00. Following the completion of the sale, the director now directly owns 11,300 shares of the company’s stock, valued at $1,017,565. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 shares were 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 directly owns 76,580 shares of the company’s stock, valued at approximately $7,922,966.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Ann Mather sold 380 shares of the firm’s stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $90.05, for a total transaction of $34,219.00. Following the sale, the director now owns 11,300 shares of the company’s stock, valued at $1,017,565. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 138,039 shares of company stock valued at $14,153,031. 11.44% of the stock is owned by company insiders.
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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