Otter Creek Advisors LLC Boosts Stake in Alphabet Inc. (NASDAQ:GOOGL)

Otter Creek Advisors LLC increased its position in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 798.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 18,870 shares of the information services provider’s stock after purchasing an additional 16,770 shares during the period. Alphabet accounts for about 1.5% of Otter Creek Advisors LLC’s holdings, making the stock its 28th biggest holding. Otter Creek Advisors LLC’s holdings in Alphabet were worth $1,805,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Spreng Capital Management Inc. boosted its stake in shares of Alphabet by 4.0% during the 1st quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock worth $364,000 after acquiring an additional 5 shares in the last quarter. WP Advisors LLC boosted its stake in shares of Alphabet by 2.1% during the 2nd quarter. WP Advisors LLC now owns 239 shares of the information services provider’s stock worth $521,000 after acquiring an additional 5 shares in the last quarter. Grand Central Investment Group boosted its stake in shares of Alphabet by 1.4% during the 2nd quarter. Grand Central Investment Group now owns 362 shares of the information services provider’s stock worth $789,000 after acquiring an additional 5 shares in the last quarter. Ignite Planners LLC lifted its stake in Alphabet by 1.4% in the 2nd quarter. Ignite Planners LLC now owns 351 shares of the information services provider’s stock valued at $834,000 after buying an additional 5 shares in the last quarter. Finally, Kaizen Financial Strategies lifted its stake in Alphabet by 0.7% in the 2nd quarter. Kaizen Financial Strategies now owns 759 shares of the information services provider’s stock valued at $1,654,000 after buying an additional 5 shares in the last quarter. 34.06% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Up 1.1 %

Shares of Alphabet stock opened at $92.12 on Monday. The business has a 50-day moving average of $92.82 and a 200-day moving average of $102.19. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.52 and a quick ratio of 2.47. The company has a market capitalization of $1.19 trillion, a PE ratio of 18.29, a P/E/G ratio of 1.62 and a beta of 1.09. Alphabet Inc. has a 1-year low of $83.34 and a 1-year high of $151.55.

Alphabet (NASDAQ:GOOGLGet Rating) last announced 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). The business had revenue of $57.27 billion for the quarter, compared to analyst estimates of $58.36 billion. Alphabet had a net margin of 23.75% and a return on equity of 26.41%. During the same quarter in the prior year, the business earned $1.40 earnings per share. As a group, equities analysts forecast that Alphabet Inc. will post 4.68 EPS for the current fiscal year.

Insider Activity

In other news, Director Ann Mather sold 280 shares of the firm’s stock in a transaction dated Tuesday, October 25th. The stock was sold at an average price of $103.23, for a total transaction of $28,904.40. Following the completion of the sale, the director now directly owns 11,200 shares in the company, valued at $1,156,176. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Amie Thuener O’toole sold 855 shares of the stock in a transaction dated Wednesday, November 2nd. The shares were sold at an average price of $90.85, for a total transaction of $77,676.75. Following the transaction, the chief accounting officer now owns 24,694 shares of the company’s stock, valued at $2,243,449.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ann Mather sold 280 shares of the stock in a transaction dated Tuesday, October 25th. The stock was sold at an average price of $103.23, for a total transaction of $28,904.40. Following the transaction, the director now directly owns 11,200 shares in the company, valued at approximately $1,156,176. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 1,461,702 shares of company stock worth $36,999,217 and sold 190,744 shares worth $8,564,640. Insiders own 11.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Sanford C. Bernstein reduced their target price on Alphabet from $130.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 26th. Atlantic Securities reduced their target price on Alphabet to $115.00 in a research note on Thursday, October 27th. Truist Financial reduced their target price on Alphabet from $136.00 to $130.00 and set a “buy” rating on the stock in a research note on Wednesday, October 26th. Needham & Company LLC reduced their target price on Alphabet from $160.00 to $115.00 and set a “buy” rating on the stock in a research note on Thursday, December 22nd. Finally, Susquehanna reduced their target price on Alphabet from $150.00 to $120.00 and set a “positive” rating on the stock in a research note on Wednesday, October 26th. Five research analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.00.

Alphabet Company Profile

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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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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