Rational Advisors LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,836 shares of the information services provider’s stock after buying an additional 401 shares during the quarter. Rational Advisors LLC’s holdings in Alphabet were worth $2,809,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bornite Capital Management LP bought a new position in Alphabet in the first quarter valued at about $16,688,000. Markel Corp lifted its position in Alphabet by 17.0% during the 1st quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock valued at $43,110,000 after purchasing an additional 2,250 shares during the period. United Bank boosted its stake in shares of Alphabet by 5.9% in the 1st quarter. United Bank now owns 2,033 shares of the information services provider’s stock valued at $5,654,000 after purchasing an additional 113 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Alphabet by 23.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock worth $900,929,000 after buying an additional 61,427 shares during the period. Finally, Dakota Wealth Management grew its position in shares of Alphabet by 20.4% during the 1st quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock worth $25,806,000 after buying an additional 1,570 shares during the period. Institutional investors and hedge funds own 34.06% of the company’s stock.
Insider Activity
In other Alphabet news, Director Kavitark Ram Shriram sold 37,500 shares of the company’s stock in a transaction dated Friday, May 5th. The stock was sold at an average price of $105.04, for a total value of $3,939,000.00. Following the sale, the director now owns 107,240 shares in the company, valued at approximately $11,264,489.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Alphabet news, Director Kavitark Ram Shriram sold 37,500 shares of the firm’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 transaction of $3,939,000.00. Following the completion of the transaction, the director now owns 107,240 shares in the company, valued at approximately $11,264,489.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of Alphabet stock in a transaction dated Monday, March 13th. The stock was purchased at an average cost of $29.29 per share, for a total transaction 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 disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 732,217 shares of company stock valued at $21,135,371 and sold 138,039 shares valued at $14,153,031. Insiders own 11.44% of the company’s stock.
Alphabet Stock Performance
Alphabet (NASDAQ:GOOGL – Get Rating) last released its quarterly earnings results 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 company had revenue of $69.79 billion for the quarter, compared to analysts’ expectations of $57.19 billion. During the same period in the previous year, the business posted $1.23 earnings per share. Research analysts anticipate that Alphabet Inc. will post 5.39 earnings per share for the current year.
Analyst Ratings Changes
A number of brokerages have issued reports on GOOGL. Rosenblatt Securities reduced their price objective on shares of Alphabet from $130.00 to $128.00 and set a “buy” rating on the stock in a research note on Friday, February 3rd. Raymond James lifted their price objective on Alphabet from $119.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 26th. Robert W. Baird upped their price objective on Alphabet from $120.00 to $123.00 and gave the company an “outperform” rating in a report on Wednesday, April 26th. Wolfe Research raised their target price on Alphabet from $120.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, April 26th. Finally, UBS Group upped their price target on Alphabet from $120.00 to $123.00 and gave the company a “buy” rating in a research note on Thursday, April 6th. 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $130.06.
Alphabet 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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