Heartland Advisors Inc. boosted its stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 0.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,695 shares of the information services provider’s stock after acquiring an additional 161 shares during the period. Heartland Advisors Inc.’s holdings in Alphabet were worth $2,885,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the stock. VitalStone Financial LLC bought a new position in Alphabet in the fourth quarter worth $25,000. IAG Wealth Partners LLC grew its position in shares of Alphabet by 3,275.0% in the 3rd quarter. IAG Wealth Partners LLC now owns 270 shares of the information services provider’s stock worth $26,000 after buying an additional 262 shares during the period. Artemis Wealth Advisors LLC increased its stake in shares of Alphabet by 1,900.0% in the 3rd quarter. Artemis Wealth Advisors LLC now owns 280 shares of the information services provider’s stock worth $27,000 after acquiring an additional 266 shares in the last quarter. Laurel Wealth Planning LLC lifted its position in Alphabet by 1,900.0% during the 3rd quarter. Laurel Wealth Planning LLC now owns 300 shares of the information services provider’s stock valued at $29,000 after acquiring an additional 285 shares during the period. Finally, Coston McIsaac & Partners boosted its stake in Alphabet by 1,900.0% during the third quarter. Coston McIsaac & Partners now owns 320 shares of the information services provider’s stock worth $30,000 after acquiring an additional 304 shares in the last quarter. 34.06% of the stock is owned by hedge funds and other institutional investors.
Alphabet Trading Up 0.8 %
Shares of NASDAQ:GOOGL opened at $117.51 on Friday. The stock has a 50 day moving average of $103.71 and a 200 day moving average of $97.29. The company has a market cap of $1.49 trillion, a PE ratio of 26.17, a price-to-earnings-growth ratio of 1.35 and a beta of 1.10. Alphabet Inc. has a 12-month low of $83.34 and a 12-month high of $122.43. The company has a current ratio of 2.35, a quick ratio of 2.32 and a debt-to-equity ratio of 0.05.
Insider Activity
In related news, CAO Amie Thuener O’toole sold 637 shares of Alphabet stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $90.15, for a total transaction of $57,425.55. Following the sale, the chief accounting officer now owns 25,442 shares of the company’s stock, valued at approximately $2,293,596.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Alphabet news, Director Ann Mather sold 380 shares of the stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $90.05, for a total transaction of $34,219.00. Following the completion of the transaction, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 637 shares of Alphabet stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $90.15, for a total value of $57,425.55. Following the completion of the sale, the chief accounting officer now directly owns 25,442 shares in the company, valued at $2,293,596.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 732,217 shares of company stock worth $21,135,371 and have sold 326,208 shares worth $16,803,119. Company insiders own 11.44% of the company’s stock.
Analyst Ratings Changes
A number of analysts have recently commented on the company. UBS Group boosted 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. Oppenheimer boosted their target price on Alphabet from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday, April 26th. Roth Capital restated a “buy” rating on shares of Alphabet in a report on Friday, February 3rd. Evercore ISI lifted their price target on Alphabet from $125.00 to $130.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 26th. Finally, Needham & Company LLC reissued a “buy” rating and set a $115.00 price objective on shares of Alphabet in a research report on Monday, April 3rd. 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average 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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