D L Carlson Investment Group Inc. reduced its stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 8.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 112,702 shares of the information services provider’s stock after selling 10,217 shares during the quarter. Alphabet makes up approximately 2.7% of D L Carlson Investment Group Inc.’s investment portfolio, making the stock its 7th largest position. D L Carlson Investment Group Inc.’s holdings in Alphabet were worth $11,691,000 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 GOOGL. Bornite Capital Management LP purchased a new stake in Alphabet in the 1st quarter valued at about $16,688,000. Markel Corp raised 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 valued at $43,110,000 after acquiring an additional 2,250 shares during the period. United Bank lifted its holdings 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 during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Alphabet by 23.4% during 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 purchasing an additional 61,427 shares during the period. Finally, Dakota Wealth Management raised its position in Alphabet by 20.4% in the first quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock valued at $25,806,000 after purchasing an additional 1,570 shares during the period. 35.08% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Alphabet
In other Alphabet news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $137.30, for a total value of $27,460.00. Following the sale, the director now owns 7,584 shares of the company’s stock, valued at approximately $1,041,283.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder 2019 Gp L.L.C. Gv sold 6,532 shares of the company’s stock in a transaction on Friday, June 16th. The shares were sold at an average price of $15.02, for a total transaction of $98,110.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $137.30, for a total transaction of $27,460.00. Following the completion of the sale, the director now owns 7,584 shares of the company’s stock, valued at approximately $1,041,283.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 140,029 shares of company stock worth $12,883,371. Company insiders own 0.88% of the company’s stock.
Alphabet Stock Down 1.2 %
Alphabet (NASDAQ:GOOGL – Get Free Report) last issued its quarterly earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.12. The firm had revenue of $74.60 billion during the quarter, compared to the consensus estimate of $60.24 billion. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. During the same period last year, the company earned $1.21 earnings per share. As a group, research analysts expect that Alphabet Inc. will post 5.68 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several research analysts have recently commented on GOOGL shares. Barclays raised their price target on Alphabet from $160.00 to $200.00 in a research report on Wednesday, July 26th. Loop Capital lifted their target price on Alphabet from $125.00 to $140.00 and gave the company a “hold” rating in a research report on Friday, August 18th. The Goldman Sachs Group increased their price target on shares of Alphabet from $132.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, July 17th. JMP Securities restated a “market outperform” rating and issued a $138.00 price objective on shares of Alphabet in a report on Wednesday, August 30th. Finally, TD Cowen upped their target price on shares of Alphabet from $130.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, July 13th. Four analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $143.89.
Read Our Latest Stock Analysis on Alphabet
Alphabet Company Profile
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.
Further Reading
- Five stocks we like better than Alphabet
- Business Services Stocks Investing
- Ray Dalio’s Move into 3 Stocks, All Betting on One Thing
- Best ESG Stocks: 11 Best Stocks for ESG Investing
- Airbnb Joins the S&P 500, Time to Buy In?
- What is a Mid Cap Stock? How to Invest
- Does Dell Technologies Blowout Quarter Mean a New Demand Cycle?
Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL – Free Report).
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.
