Westchester Capital Management Inc. lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 0.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 117,740 shares of the information services provider’s stock after acquiring an additional 565 shares during the quarter. Alphabet makes up about 3.1% of Westchester Capital Management Inc.’s investment portfolio, making the stock its 20th largest position. Westchester Capital Management Inc.’s holdings in Alphabet were worth $10,388,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in GOOGL. Heartland Advisors Inc. lifted its holdings in Alphabet by 0.5% in the fourth quarter. Heartland Advisors Inc. now owns 32,695 shares of the information services provider’s stock valued at $2,885,000 after buying an additional 161 shares during the period. Summit Wealth Group LLC bought a new stake in shares of Alphabet during the 4th quarter valued at $219,000. Cozad Asset Management Inc. lifted its stake in shares of Alphabet by 1.7% in the 4th quarter. Cozad Asset Management Inc. now owns 104,062 shares of the information services provider’s stock valued at $9,181,000 after purchasing an additional 1,730 shares during the period. Crewe Advisors LLC boosted its position in shares of Alphabet by 72.1% in the 4th quarter. Crewe Advisors LLC now owns 21,331 shares of the information services provider’s stock worth $1,882,000 after purchasing an additional 8,933 shares during the last quarter. Finally, Hikari Tsushin Inc. grew its stake in shares of Alphabet by 9.1% during the fourth quarter. Hikari Tsushin Inc. now owns 814,349 shares of the information services provider’s stock worth $71,850,000 after purchasing an additional 68,009 shares during the period. Institutional investors and hedge funds own 34.06% of the company’s stock.
Insider Activity at Alphabet
In other news, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of the stock in a transaction on Monday, May 8th. The stock was sold at an average price of $14.13, for a total transaction of $1,423,908.36. Following the sale, the insider now directly owns 11,421,476 shares of the company’s stock, valued at approximately $161,385,455.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of the company’s stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $14.13, for a total transaction of $1,423,908.36. Following the completion of the sale, the insider now owns 11,421,476 shares of the company’s stock, valued at approximately $161,385,455.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the stock in a transaction on Monday, March 13th. The shares were purchased at an average price of $29.29 per share, with a total value of $12,155,350.00. Following the completion of the transaction, the insider now owns 1,709,527 shares of the company’s stock, valued at $50,072,045.83. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 732,217 shares of company stock worth $21,135,371 and sold 326,208 shares worth $16,803,119. 11.44% of the stock is currently owned by corporate insiders.
Alphabet Stock Up 0.8 %
Alphabet (NASDAQ:GOOGL – Get Rating) last issued its quarterly earnings data 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 net margin of 20.58% and a return on equity of 22.84%. The business had revenue of $69.79 billion during the quarter, compared to analysts’ expectations of $57.19 billion. During the same quarter in the previous year, the company earned $1.23 EPS. On average, equities analysts expect that Alphabet Inc. will post 5.39 EPS for the current year.
Analysts Set New Price Targets
Several equities analysts have weighed in on GOOGL shares. Raymond James increased their target price on Alphabet from $119.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday, April 26th. StockNews.com upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a report on Wednesday, April 26th. Rosenblatt Securities decreased their price target on shares of Alphabet from $130.00 to $128.00 and set a “buy” rating for the company in a report on Friday, February 3rd. Needham & Company LLC reiterated a “buy” rating and set a $115.00 target price on shares of Alphabet in a report on Monday, April 3rd. Finally, Credit Suisse Group lowered their price target on Alphabet from $136.00 to $135.00 and set an “outperform” rating for the company in a report on Wednesday, April 26th. Three investment analysts have rated the stock with a hold rating, thirty-five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $130.06.
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.
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