Thoroughbred Financial Services LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 8.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 74,979 shares of the information services provider’s stock after acquiring an additional 6,090 shares during the quarter. Alphabet comprises about 1.1% of Thoroughbred Financial Services LLC’s investment portfolio, making the stock its 17th largest position. Thoroughbred Financial Services LLC’s holdings in Alphabet were worth $6,615,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in GOOGL. DC Investments Management LLC acquired a new position in Alphabet in the first quarter valued at about $114,000. Bridgefront Capital LLC acquired a new position in Alphabet in the first quarter valued at about $225,000. Worth Asset Management LLC acquired a new position in Alphabet in the first quarter valued at about $206,000. Eudaimonia Advisors LLC increased its holdings in shares of Alphabet by 15.1% in the first quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock worth $275,000 after acquiring an additional 13 shares in the last quarter. Finally, Aspire Capital Advisors LLC bought a new stake in shares of Alphabet in the first quarter worth about $281,000. Institutional investors and hedge funds own 34.06% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts have issued reports on GOOGL shares. Roth Capital restated a “buy” rating on shares of Alphabet in a report on Friday, February 3rd. Rosenblatt Securities lowered their price target on Alphabet from $130.00 to $128.00 and set a “buy” rating for the company in a report on Friday, February 3rd. UBS Group increased their price target on Alphabet from $120.00 to $123.00 and gave the stock a “buy” rating in a report on Thursday, April 6th. JMP Securities restated a “market outperform” rating and issued a $132.00 price target on shares of Alphabet in a report on Thursday, March 16th. Finally, Needham & Company LLC restated a “buy” rating and issued a $115.00 price target on shares of Alphabet in a report on Monday, April 3rd. Three equities research analysts have rated the stock with a hold rating, thirty-five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $130.06.
Alphabet Stock Performance
Alphabet (NASDAQ:GOOGL – Get Rating) last released its quarterly earnings data on Tuesday, April 25th. The information services provider reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 22.84% and a net margin of 20.58%. During the same period last year, the firm posted $1.23 earnings per share. On average, equities research analysts expect that Alphabet Inc. will post 5.39 earnings per share for the current year.
Insider Buying and Selling
In related news, SVP Prabhakar Raghavan sold 32,379 shares of Alphabet stock in a transaction that occurred on 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 completion of the sale, 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 is accessible through the SEC website. In related news, SVP Prabhakar Raghavan sold 32,379 shares of Alphabet stock in a transaction that occurred on 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 completion of the sale, 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 is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 637 shares of Alphabet stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $90.15, for a total value of $57,425.55. Following the completion of the transaction, the chief accounting officer now directly owns 25,442 shares of the company’s stock, valued at $2,293,596.30. The disclosure for this sale can be found here. In the last ninety days, insiders bought 732,217 shares of company stock valued at $21,135,371 and sold 138,039 shares valued at $14,153,031. 11.44% of the stock is currently owned by insiders.
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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