Sachetta LLC raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 9.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,051 shares of the information services provider’s stock after acquiring an additional 261 shares during the quarter. Sachetta LLC’s holdings in Alphabet were worth $578,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. LMR Partners LLP purchased a new position in shares of Alphabet during the 3rd quarter valued at $32,000. Denver PWM LLC increased its stake in Alphabet by 25.4% in the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock valued at $47,000 after acquiring an additional 57 shares during the last quarter. Quarry LP bought a new position in Alphabet in the second quarter valued at $53,000. Teachers Insurance & Annuity Association of America bought a new position in Alphabet in the third quarter valued at $66,000. Finally, Mendota Financial Group LLC increased its stake in Alphabet by 19.0% in the third quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock valued at $67,000 after acquiring an additional 64 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.
Insiders Place Their Bets
In other news, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $194.22, for a total transaction of $291,330.00. Following the completion of the sale, the director now owns 23,324 shares of the company’s stock, valued at $4,529,987.28. The trade was a 6.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 2,834 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $194.32, for a total transaction of $550,702.88. Following the sale, the chief accounting officer now directly owns 17,847 shares of the company’s stock, valued at approximately $3,468,029.04. The trade was a 13.70 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 121,630 shares of company stock valued at $22,258,133. Company insiders own 11.55% of the company’s stock.
Alphabet Trading Up 2.8 %
Alphabet (NASDAQ:GOOGL – Get Free Report) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS 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 during the quarter, compared to the consensus estimate of $72.85 billion. During the same quarter in the previous year, the firm posted $1.55 EPS. Research analysts forecast that Alphabet Inc. will post 8.02 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on GOOGL shares. Needham & Company LLC increased their target price on Alphabet from $210.00 to $225.00 and gave the company a “buy” rating in a research note on Monday. China Renaissance raised Alphabet from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. DA Davidson increased their target price on Alphabet from $190.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. BMO Capital Markets reaffirmed an “outperform” rating and set a $217.00 price objective (up from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $210.00 price objective (up from $200.00) on shares of Alphabet in a research note on Wednesday, October 30th. Nine equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $209.82.
View Our Latest Analysis on Alphabet
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, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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