FCG Investment Co boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 5.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 30,369 shares of the information services provider’s stock after acquiring an additional 1,632 shares during the period. Alphabet accounts for 3.5% of FCG Investment Co’s holdings, making the stock its 6th biggest position. FCG Investment Co’s holdings in Alphabet were worth $5,749,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of GOOGL. Schear Investment Advisers LLC increased its position in shares of Alphabet by 17.0% during the third quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock worth $5,598,000 after purchasing an additional 4,905 shares in the last quarter. Trinity Financial Advisors LLC increased its position in shares of Alphabet by 4.5% during the third quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock worth $771,000 after purchasing an additional 190 shares in the last quarter. Landscape Capital Management L.L.C. increased its position in shares of Alphabet by 27.9% during the third quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider’s stock worth $4,192,000 after purchasing an additional 5,516 shares in the last quarter. abrdn plc increased its position in shares of Alphabet by 10.7% during the third quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock worth $1,037,196,000 after purchasing an additional 611,233 shares in the last quarter. Finally, StoneCrest Wealth Management Inc. increased its position in shares of Alphabet by 0.7% during the third quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock worth $3,567,000 after purchasing an additional 140 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.
Wall Street Analysts Forecast Growth
GOOGL has been the topic of several research reports. Wedbush upped their target price on Alphabet from $210.00 to $220.00 and gave the company an “outperform” rating in a research report on Monday, January 6th. Truist Financial upped their target price on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. BMO Capital Markets reissued an “outperform” rating and issued a $217.00 target price (up from $215.00) on shares of Alphabet in a research report on Wednesday, October 30th. JPMorgan Chase & Co. upped their target price on Alphabet from $212.00 to $232.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Finally, Cantor Fitzgerald cut their target price on Alphabet from $215.00 to $210.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 22nd. Nine research analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $209.82.
Alphabet Trading Up 1.8 %
Shares of Alphabet stock opened at $195.30 on Wednesday. The firm has a market capitalization of $2.39 trillion, a PE ratio of 25.90, a P/E/G ratio of 1.27 and a beta of 0.98. Alphabet Inc. has a twelve month low of $130.66 and a twelve month high of $202.29. The firm’s 50-day moving average price is $186.79 and its 200 day moving average price is $173.61. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04.
Alphabet (NASDAQ:GOOGL – Get Free Report) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same period last year, the company posted $1.55 EPS. On average, sell-side analysts predict that Alphabet Inc. will post 8.02 EPS for the current fiscal year.
Insiders Place Their Bets
In other Alphabet news, CAO Amie Thuener O’toole sold 2,834 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $197.55, for a total value of $559,856.70. Following the transaction, the chief accounting officer now directly owns 20,681 shares of the company’s stock, valued at $4,085,531.55. This trade represents a 12.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John Kent Walker sold 16,820 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the completion of the transaction, the insider now directly owns 43,981 shares in the company, valued at $8,471,620.22. This trade represents a 27.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 122,887 shares of company stock valued at $22,470,464 in the last ninety days. 11.55% of the stock is currently owned by corporate insiders.
Alphabet 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, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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