AM Investment Strategies LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 1.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,480 shares of the information services provider’s stock after selling 80 shares during the quarter. AM Investment Strategies LLC’s holdings in Alphabet were worth $1,227,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of GOOGL. Schear Investment Advisers LLC grew its stake in shares of Alphabet by 17.0% in the third quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock worth $5,598,000 after acquiring an additional 4,905 shares during the period. Trinity Financial Advisors LLC grew its stake in shares of Alphabet by 4.5% in the third quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock worth $771,000 after acquiring an additional 190 shares during the period. Landscape Capital Management L.L.C. grew its stake in shares of Alphabet by 27.9% in 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 acquiring an additional 5,516 shares during the period. abrdn plc grew its stake in shares of Alphabet by 10.7% in the third quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock worth $1,037,196,000 after acquiring an additional 611,233 shares during the period. Finally, StoneCrest Wealth Management Inc. grew its stake in shares of Alphabet by 0.7% in the third quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock worth $3,567,000 after acquiring an additional 140 shares during the period. 40.03% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
GOOGL has been the subject of a number of research analyst reports. Loop Capital lifted their price target on shares of Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. Needham & Company LLC raised their price objective on shares of Alphabet from $210.00 to $225.00 and gave the stock a “buy” rating in a report on Monday. Piper Sandler reissued an “overweight” rating and issued a $210.00 price objective (up previously from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. Cantor Fitzgerald dropped their price objective on shares of Alphabet from $215.00 to $210.00 and set a “neutral” rating on the stock in a report on Wednesday, January 22nd. Finally, Royal Bank of Canada raised their price objective on shares of Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Nine analysts have rated the stock with a hold rating, thirty have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $209.82.
Insider Buying and Selling at Alphabet
In other news, insider John Kent Walker sold 16,820 shares of the business’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the completion of the sale, the insider now directly owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. The trade was a 27.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frances Arnold sold 441 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the sale, the director now directly owns 16,490 shares of the company’s stock, valued at $2,820,779.40. This represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 121,630 shares of company stock worth $22,258,133 over the last quarter. Insiders own 11.55% of the company’s stock.
Alphabet Trading Up 2.8 %
GOOGL stock opened at $200.87 on Friday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a twelve month low of $130.66 and a twelve month high of $202.29. The stock has a market capitalization of $2.46 trillion, a price-to-earnings ratio of 26.64, a price-to-earnings-growth ratio of 1.27 and a beta of 0.98. The firm’s fifty day simple moving average is $187.53 and its two-hundred day simple moving average is $173.84.
Alphabet (NASDAQ:GOOGL – Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating 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 analysts’ expectations of $72.85 billion. During the same quarter in the previous year, the business posted $1.55 earnings per share. As a group, analysts anticipate that Alphabet Inc. will post 8.02 earnings per share for the current year.
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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