Lafayette Investments Inc. lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 42.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 70,062 shares of the information services provider’s stock after purchasing an additional 20,816 shares during the quarter. Alphabet comprises about 2.0% of Lafayette Investments Inc.’s investment portfolio, making the stock its 16th largest holding. Lafayette Investments Inc.’s holdings in Alphabet were worth $7,286,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of GOOG. Corrado Advisors LLC acquired a new position in Alphabet during the fourth quarter worth about $27,000. Gould Capital LLC grew its holdings in Alphabet by 2,150.0% during the third quarter. Gould Capital LLC now owns 315 shares of the information services provider’s stock worth $30,000 after acquiring an additional 301 shares during the period. Essex Investment Management Co. LLC grew its holdings in Alphabet by 1,900.0% during the third quarter. Essex Investment Management Co. LLC now owns 320 shares of the information services provider’s stock worth $31,000 after acquiring an additional 304 shares during the period. My Personal CFO LLC acquired a new position in Alphabet during the fourth quarter worth about $34,000. Finally, Milestone Wealth LLC grew its holdings in Alphabet by 1,900.0% during the third quarter. Milestone Wealth LLC now owns 380 shares of the information services provider’s stock worth $37,000 after acquiring an additional 361 shares during the period. 27.17% of the stock is currently owned by institutional investors.
Insider Activity
In other news, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of Alphabet stock in a transaction dated 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 completion of the sale, the insider now directly owns 11,421,476 shares in the company, valued at approximately $161,385,455.88. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, major shareholder 2021 Gp L.L.C. Gv bought 309,931 shares of Alphabet stock in a transaction that occurred on Wednesday, May 3rd. The stock was purchased at an average cost of $28.34 per share, for a total transaction of $8,783,444.54. Following the acquisition, the insider now owns 2,243,665 shares in the company, valued at $63,585,466.10. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 11,421,476 shares of the company’s stock, valued at $161,385,455.88. The disclosure for this sale can be found here. Insiders sold a total of 832,682 shares of company stock worth $26,077,123 in the last three months. 12.99% of the stock is owned by insiders.
Alphabet Stock Down 1.4 %
Alphabet (NASDAQ:GOOG – Free Report) last announced its quarterly earnings results 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 $68.80 billion. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. The firm’s revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.23 EPS. On average, equities research analysts expect that Alphabet Inc. will post 5.39 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of research analysts recently issued reports on GOOG shares. Robert W. Baird lifted their target price on Alphabet from $120.00 to $123.00 in a report on Wednesday, April 26th. Raymond James lifted their price target on Alphabet from $119.00 to $130.00 in a research note on Wednesday, April 26th. Deutsche Bank Aktiengesellschaft lifted their price target on Alphabet from $120.00 to $125.00 in a research note on Wednesday, April 26th. UBS Group lifted their price target on Alphabet from $120.00 to $123.00 and gave the stock a “buy” rating in a research note on Thursday, April 6th. Finally, Oppenheimer dropped their price target on Alphabet from $155.00 to $135.00 in a research note on Monday, April 24th. One investment analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $132.80.
About Alphabet
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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