Tandem Capital Management Corp ADV Has $4.24 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Tandem Capital Management Corp ADV boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1,881.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 41,880 shares of the information services provider’s stock after purchasing an additional 39,766 shares during the quarter. Alphabet comprises approximately 3.6% of Tandem Capital Management Corp ADV’s holdings, making the stock its 4th largest position. Tandem Capital Management Corp ADV’s holdings in Alphabet were worth $4,235,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. WP Advisors LLC boosted its stake in Alphabet by 1,898.7% during the 3rd quarter. WP Advisors LLC now owns 4,777 shares of the information services provider’s stock valued at $457,000 after purchasing an additional 4,538 shares during the period. First City Capital Management Inc. lifted its position in shares of Alphabet by 2,304.2% during the 3rd quarter. First City Capital Management Inc. now owns 6,900 shares of the information services provider’s stock worth $660,000 after buying an additional 6,613 shares during the period. Fundamentun LLC increased its holdings in Alphabet by 1,763.0% during the 3rd quarter. Fundamentun LLC now owns 83,535 shares of the information services provider’s stock valued at $7,990,000 after purchasing an additional 79,051 shares in the last quarter. Stratos Wealth Advisors LLC increased its holdings in Alphabet by 1,763.4% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 10,193 shares of the information services provider’s stock valued at $975,000 after purchasing an additional 9,646 shares in the last quarter. Finally, Stratos Wealth Partners LTD. increased its holdings in Alphabet by 1,936.8% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 299,979 shares of the information services provider’s stock valued at $28,693,000 after purchasing an additional 285,251 shares in the last quarter. Institutional investors own 34.06% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Royal Bank of Canada lowered their target price on Alphabet from $135.00 to $130.00 and set an “outperform” rating for the company in a research note on Wednesday, October 26th. Tigress Financial cut their price target on Alphabet from $186.00 to $160.00 and set a “strong-buy” rating on the stock in a report on Friday, January 6th. Rosenblatt Securities cut their price target on Alphabet from $156.00 to $130.00 and set a “buy” rating on the stock in a report on Wednesday, October 26th. StockNews.com began coverage on Alphabet in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, MKM Partners lowered their target price on Alphabet from $140.00 to $134.00 and set a “buy” rating on the stock in a research report on Wednesday, October 19th. Five research analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $132.00.

Insider Activity

In other news, major shareholder 2019 Gp L.L.C. Gv purchased 800,000 shares of the company’s stock in a transaction dated Monday, October 24th. The stock was bought at an average cost of $17.00 per share, for a total transaction of $13,600,000.00. Following the purchase, the insider now owns 11,522,248 shares of the company’s stock, valued at $195,878,216. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, major shareholder 2019 Gp L.L.C. Gv purchased 800,000 shares of the company’s stock in a transaction dated Monday, October 24th. The stock was bought at an average cost of $17.00 per share, for a total transaction of $13,600,000.00. Following the purchase, the insider now owns 11,522,248 shares of the company’s stock, valued at $195,878,216. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 855 shares of the stock in a transaction on Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total value of $77,933.25. Following the completion of the sale, the chief accounting officer now owns 25,122 shares of the company’s stock, valued at $2,289,870.30. The disclosure for this sale can be found here. In the last ninety days, insiders bought 1,461,702 shares of company stock worth $36,999,217 and sold 190,744 shares worth $8,564,640. 11.44% of the stock is owned by corporate insiders.

Alphabet Stock Down 0.4 %

NASDAQ GOOGL opened at $91.13 on Friday. The business has a fifty day moving average price of $92.71 and a two-hundred day moving average price of $102.37. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.52 and a quick ratio of 2.47. Alphabet Inc. has a fifty-two week low of $83.34 and a fifty-two week high of $151.55. The stock has a market capitalization of $1.18 trillion, a PE ratio of 18.10, a PEG ratio of 1.53 and a beta of 1.09.

Alphabet (NASDAQ:GOOGL – Get Rating) last released its earnings results on Tuesday, October 25th. The information services provider reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.19). Alphabet had a return on equity of 26.41% and a net margin of 23.75%. The business had revenue of $57.27 billion for the quarter, compared to the consensus estimate of $58.36 billion. During the same quarter in the previous year, the company earned $1.40 earnings per share. Equities analysts expect that Alphabet Inc. will post 4.68 earnings per share for the current fiscal year.

About Alphabet

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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.