Connor Clark & Lunn Investment Management Ltd. trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 85.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 86,008 shares of the information services provider’s stock after selling 492,398 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Alphabet were worth $7,588,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. VitalStone Financial LLC acquired a new position in shares of Alphabet in the 4th quarter valued at about $25,000. Laurel Wealth Planning LLC lifted its position in Alphabet by 1,900.0% in the 3rd quarter. Laurel Wealth Planning LLC now owns 300 shares of the information services provider’s stock valued at $29,000 after purchasing an additional 285 shares during the last quarter. Coston McIsaac & Partners lifted its position in Alphabet by 1,900.0% in the 3rd quarter. Coston McIsaac & Partners now owns 320 shares of the information services provider’s stock valued at $30,000 after purchasing an additional 304 shares during the last quarter. McElhenny Sheffield Capital Management LLC bought a new stake in Alphabet in the 4th quarter valued at about $33,000. Finally, TFO TDC LLC lifted its position in Alphabet by 952.6% in the 3rd quarter. TFO TDC LLC now owns 400 shares of the information services provider’s stock valued at $38,000 after purchasing an additional 362 shares during the last quarter. 34.06% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Alphabet news, Director Ann Mather sold 380 shares of the stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $90.05, for a total transaction of $34,219.00. Following the sale, the director now owns 11,300 shares of the company’s stock, valued at approximately $1,017,565. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Alphabet news, Director Ann Mather sold 380 shares of the company’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $90.05, for a total transaction of $34,219.00. Following the transaction, the director now directly owns 11,300 shares in the company, valued at approximately $1,017,565. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Frances Arnold sold 950 shares of the stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $125.25, for a total transaction of $118,987.50. Following the completion of the sale, the director now owns 13,040 shares in the company, valued at $1,633,260. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 732,217 shares of company stock valued at $21,135,371 and have sold 762,234 shares valued at $30,801,478. Insiders own 0.88% of the company’s stock.
Alphabet Trading Up 0.9 %
Shares of Alphabet stock opened at $124.61 on Friday. The firm has a market capitalization of $1.58 trillion, a PE ratio of 27.75, a price-to-earnings-growth ratio of 1.57 and a beta of 1.10. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.35 and a quick ratio of 2.32. The company’s fifty day moving average price is $109.10 and its two-hundred day moving average price is $99.38. Alphabet Inc. has a 52-week low of $83.34 and a 52-week high of $126.43.
Alphabet (NASDAQ:GOOGL – Get Rating) last announced its quarterly earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.11. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. The firm had revenue of $69.79 billion for the quarter, compared to analyst estimates of $57.19 billion. During the same quarter in the previous year, the firm posted $1.23 EPS. On average, analysts expect that Alphabet Inc. will post 5.41 EPS for the current year.
Analysts Set New Price Targets
Several analysts recently weighed in on GOOGL shares. JMP Securities reiterated a “market outperform” rating and issued a $132.00 price objective on shares of Alphabet in a research report on Thursday, March 16th. Wells Fargo & Company boosted their price target on shares of Alphabet from $145.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, February 3rd. Rosenblatt Securities dropped their price target 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. Truist Financial boosted their price target on shares of Alphabet from $120.00 to $122.00 and gave the stock a “buy” rating in a research report on Wednesday, April 26th. Finally, Credit Suisse Group dropped their price target on shares of Alphabet from $136.00 to $135.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 26th. Four research analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $130.51.
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.
Recommended Stories
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 – Get Rating).
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.
ABMN Staff
Source link
