Princeton Global Asset Management LLC grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 2.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 57,775 shares of the information services provider’s stock after buying an additional 1,124 shares during the quarter. Alphabet comprises about 2.0% of Princeton Global Asset Management LLC’s investment portfolio, making the stock its 11th largest position. Princeton Global Asset Management LLC’s holdings in Alphabet were worth $8,071,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Bornite Capital Management LP acquired a new stake in Alphabet during the first quarter worth about $16,688,000. Markel Corp raised its position in shares of Alphabet by 17.0% during the 1st quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock worth $43,110,000 after purchasing an additional 2,250 shares during the period. United Bank lifted its holdings in shares of Alphabet by 5.9% in the 1st quarter. United Bank now owns 2,033 shares of the information services provider’s stock worth $5,654,000 after purchasing an additional 113 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Alphabet by 23.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock valued at $900,929,000 after purchasing an additional 61,427 shares during the period. Finally, Dakota Wealth Management grew its stake in Alphabet by 20.4% during the 1st quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock worth $25,806,000 after buying an additional 1,570 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.
Alphabet Price Performance
GOOGL opened at $152.50 on Friday. Alphabet Inc. has a 12-month low of $102.63 and a 12-month high of $155.74. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $1.90 trillion, a P/E ratio of 26.29, a PEG ratio of 1.39 and a beta of 1.05. The stock has a fifty day moving average of $144.20 and a 200-day moving average of $138.88.
Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The firm had revenue of $86.31 billion during the quarter, compared to analyst estimates of $70.77 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. During the same period last year, the company posted $1.05 EPS. Equities analysts forecast that Alphabet Inc. will post 6.77 EPS for the current fiscal year.
Analysts Set New Price Targets
GOOGL has been the topic of a number of recent research reports. JMP Securities boosted their price target on shares of Alphabet from $150.00 to $160.00 and gave the company a “market outperform” rating in a report on Wednesday, January 31st. Redburn Atlantic upped their target price on shares of Alphabet from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Rosenblatt Securities dropped their price target on shares of Alphabet from $174.00 to $172.00 and set a “buy” rating on the stock in a research note on Wednesday, January 31st. BMO Capital Markets boosted their price objective on Alphabet from $170.00 to $178.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $155.00 target price on shares of Alphabet in a research note on Wednesday, January 31st. Five equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $155.39.
Read Our Latest Stock Analysis on GOOGL
Insider Activity at Alphabet
In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total value of $94,769.40. Following the completion of the sale, the chief accounting officer now owns 27,920 shares in the company, valued at approximately $4,009,032.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value of $94,769.40. Following the transaction, the chief accounting officer now owns 27,920 shares in the company, valued at $4,009,032.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Prabhakar Raghavan sold 3,258 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the sale, the senior vice president now directly owns 144,685 shares of the company’s stock, valued at $22,566,519.45. The disclosure for this sale can be found here. Over the last three months, insiders have sold 250,739 shares of company stock valued at $35,934,957. Corporate insiders own 0.88% of the company’s stock.
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.
Further Reading
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