Western Financial Corp CA Purchases Shares of 1,972 Alphabet Inc. (NASDAQ:GOOGL)

Western Financial Corp CA purchased a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 1,972 shares of the information services provider’s stock, valued at approximately $205,000.

Several other institutional investors have also added to or reduced their stakes in the company. Bornite Capital Management LP purchased a new stake in shares of Alphabet in the 1st quarter worth about $16,688,000. Markel Corp increased its stake in shares of Alphabet by 17.0% in the 1st quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock worth $43,110,000 after acquiring an additional 2,250 shares in the last quarter. United Bank increased its stake in shares of Alphabet by 5.9% in the 1st quarter. United Bank now owns 2,033 shares of the information services provider’s stock worth $5,654,000 after acquiring an additional 113 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Alphabet by 23.4% in 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 acquiring an additional 61,427 shares in the last quarter. Finally, Dakota Wealth Management increased its stake in shares of Alphabet by 20.4% in the 1st quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock worth $25,806,000 after acquiring an additional 1,570 shares in the last quarter. Hedge funds and other institutional investors own 35.38% of the company’s stock.

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Insider Activity

In related news, major shareholder 2021 Gp L.L.C. Gv acquired 309,931 shares of Alphabet stock in a transaction dated Wednesday, May 3rd. The shares were purchased at an average price of $28.34 per share, for a total transaction of $8,783,444.54. Following the completion of the transaction, the insider now directly owns 2,243,665 shares in the company, valued at approximately $63,585,466.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, major shareholder 2021 Gp L.L.C. Gv acquired 309,931 shares of Alphabet stock in a transaction dated Wednesday, May 3rd. The shares were purchased at an average price of $28.34 per share, for a total transaction of $8,783,444.54. Following the completion of the transaction, the insider now directly owns 2,243,665 shares in the company, valued at approximately $63,585,466.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of Alphabet 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 sale, the insider now owns 11,421,476 shares in the company, valued at approximately $161,385,455.88. The disclosure for this sale can be found here. Insiders have sold a total of 810,248 shares of company stock worth $25,702,475 over the last quarter. Insiders own 0.88% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GOOGL. 888 reiterated a “downgrade” rating on shares of Alphabet in a research note on Monday, June 26th. Royal Bank of Canada increased their price target on shares of Alphabet from $130.00 to $132.00 in a research note on Wednesday, April 26th. UBS Group lowered shares of Alphabet from a “buy” rating to a “neutral” rating and increased their price target for the stock from $123.00 to $132.00 in a research note on Monday, June 26th. StockNews.com initiated coverage on shares of Alphabet in a research note on Thursday, May 18th. They issued a “buy” rating for the company. Finally, JMP Securities restated a “market outperform” rating and set a $132.00 price objective on shares of Alphabet in a research note on Thursday, March 16th. Seven equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $129.54.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $120.11 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.35 and a quick ratio of 2.32. Alphabet Inc. has a 1-year low of $83.34 and a 1-year high of $129.04. The company has a market capitalization of $1.53 trillion, a P/E ratio of 26.75, a P/E/G ratio of 1.53 and a beta of 1.06. The firm’s 50 day simple moving average is $119.30 and its two-hundred day simple moving average is $104.73.

Alphabet (NASDAQ:GOOGL – Free Report) last issued its quarterly earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $57.19 billion. During the same quarter in the previous year, the firm earned $1.23 earnings per share. Research analysts expect that Alphabet Inc. will post 5.39 EPS for the current fiscal year.

Alphabet Company Profile

(Free Report)

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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