Drake & Associates LLC Purchases 162 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Drake & Associates LLC grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 3.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,444 shares of the information services provider’s stock after purchasing an additional 162 shares during the quarter. Drake & Associates LLC’s holdings in Alphabet were worth $461,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of GOOGL. Spreng Capital Management Inc. grew its holdings in Alphabet by 4.0% in the first quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock worth $364,000 after purchasing an additional 5 shares during the period. West Family Investments Inc. increased its holdings in shares of Alphabet by 0.3% during the first quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock valued at $4,878,000 after acquiring an additional 6 shares in the last quarter. Maple Capital Management Inc. increased its holdings in shares of Alphabet by 2.1% during the first quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock valued at $823,000 after acquiring an additional 6 shares in the last quarter. Private Advisory Group LLC increased its holdings in shares of Alphabet by 1.8% during the first quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock valued at $1,115,000 after acquiring an additional 7 shares in the last quarter. Finally, Weik Capital Management increased its holdings in shares of Alphabet by 0.5% during the first quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock valued at $4,264,000 after acquiring an additional 8 shares in the last quarter. 35.38% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

GOOGL has been the subject of several analyst reports. Jefferies Financial Group raised their price target on Alphabet from $130.00 to $150.00 in a report on Tuesday, May 23rd. Raymond James boosted their price objective on shares of Alphabet from $119.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, April 26th. Loop Capital lowered shares of Alphabet from a “buy” rating to a “hold” rating and set a $125.00 price objective for the company. in a report on Monday, May 15th. BNP Paribas upgraded shares of Alphabet from a “neutral” rating to an “outperform” rating and set a $123.00 price objective for the company in a report on Friday, March 17th. Finally, Roth Mkm boosted their price objective on shares of Alphabet from $126.00 to $134.00 and gave the stock a “buy” rating in a report on Wednesday, April 26th. Five investment analysts have rated the stock with a hold rating, thirty-three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $129.67.

Insider Activity

In other news, major shareholder 2021 Gp L.L.C. Gv purchased 309,931 shares of the company’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was purchased at an average cost of $28.34 per share, with a total value of $8,783,444.54. Following the purchase, the insider now owns 2,243,665 shares in the company, valued at $63,585,466.10. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of the company’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $14.13, for a total value of $1,423,908.36. Following the transaction, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder 2021 Gp L.L.C. Gv acquired 309,931 shares of the business’s stock in a transaction on Wednesday, May 3rd. The stock was acquired at an average cost of $28.34 per share, for a total transaction of $8,783,444.54. Following the transaction, the insider now directly owns 2,243,665 shares in the company, valued at $63,585,466.10. The disclosure for this purchase can be found here. Insiders sold 817,525 shares of company stock valued at $29,433,168 in the last ninety days. Insiders own 0.88% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $120.55 on Thursday. The company has a market cap of $1.53 trillion, a price-to-earnings ratio of 26.85, a PEG ratio of 1.57 and a beta of 1.09. The firm’s fifty day moving average is $116.10 and its 200 day moving average is $102.80. The company has a quick ratio of 2.32, a current ratio of 2.35 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 52-week low of $83.34 and a 52-week high of $129.04.

Alphabet (NASDAQ:GOOGL – Get Rating) last posted its quarterly earnings data on Tuesday, April 25th. The information services provider reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.11. The business had revenue of $69.79 billion during the quarter, compared to analyst estimates 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 company earned $1.23 EPS. Sell-side analysts forecast that Alphabet Inc. will post 5.41 EPS for the current fiscal year.

About Alphabet

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Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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