Graham Capital Wealth Management LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1,883.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,634 shares of the information services provider’s stock after purchasing an additional 11,997 shares during the period. Alphabet comprises 1.4% of Graham Capital Wealth Management LLC’s holdings, making the stock its 21st largest holding. Graham Capital Wealth Management LLC’s holdings in Alphabet were worth $1,208,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. IAG Wealth Partners LLC boosted its position in shares of Alphabet by 3,275.0% during the 3rd quarter. IAG Wealth Partners LLC now owns 270 shares of the information services provider’s stock worth $26,000 after acquiring an additional 262 shares in the last quarter. Artemis Wealth Advisors LLC boosted its position in shares of Alphabet by 1,900.0% during the 3rd quarter. Artemis Wealth Advisors LLC now owns 280 shares of the information services provider’s stock worth $27,000 after acquiring an additional 266 shares in the last quarter. Laurel Wealth Planning LLC boosted its position in shares of Alphabet by 1,900.0% during the 3rd quarter. Laurel Wealth Planning LLC now owns 300 shares of the information services provider’s stock worth $29,000 after acquiring an additional 285 shares in the last quarter. Coston McIsaac & Partners boosted its position in shares of Alphabet by 1,900.0% during the 3rd quarter. Coston McIsaac & Partners now owns 320 shares of the information services provider’s stock worth $30,000 after acquiring an additional 304 shares in the last quarter. Finally, Horizons Wealth Management acquired a new stake in shares of Alphabet during the 2nd quarter worth approximately $33,000. Institutional investors and hedge funds own 34.06% of the company’s stock.
Insider Activity
In other news, CAO Amie Thuener O’toole sold 855 shares of Alphabet stock in a transaction dated Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total transaction of $77,933.25. Following the completion of the transaction, the chief accounting officer now directly owns 25,122 shares in the company, valued at $2,289,870.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Prabhakar Raghavan sold 22,203 shares of the business’s stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the transaction, the senior vice president now directly owns 76,579 shares in the company, valued at $6,872,965.25. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 855 shares of the business’s stock in a transaction dated Wednesday, January 4th. The stock was sold at an average price of $91.15, for a total transaction of $77,933.25. Following the transaction, the chief accounting officer now owns 25,122 shares in the company, valued at $2,289,870.30. The disclosure for this sale can be found here. Insiders sold 36,745 shares of company stock worth $3,424,078 over the last three months. 11.44% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on GOOGL. Evercore ISI cut their target price on shares of Alphabet from $130.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 21st. Barclays raised their target price on shares of Alphabet from $150.00 to $160.00 and gave the company an “overweight” rating in a research report on Friday, February 3rd. Jefferies Financial Group restated a “buy” rating and issued a $130.00 target price on shares of Alphabet in a research report on Friday, February 10th. Truist Financial cut their target price on shares of Alphabet from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, February 3rd. Finally, Rosenblatt Securities cut their target price on shares of Alphabet from $130.00 to $128.00 and set a “buy” rating on the stock in a research report on Friday, February 3rd. Five research analysts have rated the stock with a hold rating, thirty-three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $132.32.
Alphabet Stock Up 1.8 %
Shares of NASDAQ GOOGL opened at $93.65 on Friday. The stock has a market capitalization of $1.20 trillion, a P/E ratio of 20.58, a P/E/G ratio of 1.25 and a beta of 1.09. The company has a 50-day moving average price of $93.66 and a 200-day moving average price of $97.71. Alphabet Inc. has a 1 year low of $83.34 and a 1 year high of $143.79. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.38 and a quick ratio of 2.34.
Alphabet (NASDAQ:GOOGL – Get Rating) last issued its quarterly earnings data on Thursday, February 2nd. The information services provider reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). The business had revenue of $76.05 billion for the quarter, compared to analyst estimates of $63.15 billion. Alphabet had a net margin of 21.20% and a return on equity of 23.54%. During the same quarter in the prior year, the business earned $1.53 earnings per share. On average, equities research analysts forecast that Alphabet Inc. will post 5.12 EPS for the current fiscal year.
Alphabet Company Profile
Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.
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