Riverpoint Wealth Management Holdings LLC bought a new stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,280 shares of the information services provider’s stock, valued at approximately $113,000.
Several other institutional investors and hedge funds also recently made changes to their positions in GOOGL. Bornite Capital Management LP acquired a new stake in shares of Alphabet in the 1st quarter valued at $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 worth $43,110,000 after buying an additional 2,250 shares in the last quarter. United Bank lifted its position in Alphabet by 5.9% during the 1st quarter. United Bank now owns 2,033 shares of the information services provider’s stock worth $5,654,000 after buying an additional 113 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in 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 in the last quarter. Finally, Dakota Wealth Management lifted its position in 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 in the last quarter. Institutional investors and hedge funds own 34.06% of the company’s stock.
Insider Activity
In related news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the business’s stock in a transaction dated Monday, March 13th. The stock was bought at an average price of $29.29 per share, with a total value of $12,155,350.00. Following the acquisition, the insider now owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Ann Mather sold 380 shares of the 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 owns 11,300 shares of the company’s stock, valued at approximately $1,017,565. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the company’s stock in a transaction that occurred on Monday, March 13th. The stock was acquired at an average price of $29.29 per share, for a total transaction of $12,155,350.00. Following 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. In the last 90 days, insiders purchased 732,217 shares of company stock valued at $21,135,371 and sold 238,811 shares valued at $15,576,939. 11.44% of the stock is currently owned by insiders.
Alphabet Trading Up 4.3 %
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 analysts’ consensus estimates of $1.06 by $0.11. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. The firm had revenue of $69.79 billion during the quarter, compared to the consensus estimate of $57.19 billion. During the same quarter in the prior year, the firm posted $1.23 EPS. As a group, analysts expect that Alphabet Inc. will post 5.39 EPS for the current fiscal year.
Analyst Ratings Changes
Several research analysts recently issued reports on GOOGL shares. Loop Capital upped their price target on shares of Alphabet from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, February 8th. StockNews.com upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a research report on Wednesday, April 26th. Roth Mkm upped their price target on shares of Alphabet from $126.00 to $134.00 and gave the stock a “buy” rating in a research report on Wednesday, April 26th. Rosenblatt Securities dropped their price objective on Alphabet from $130.00 to $128.00 and set a “buy” rating for the company in a report on Friday, February 3rd. Finally, Barclays boosted their price objective on Alphabet from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, February 3rd. Three 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $130.06.
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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