Interval Partners LP Buys New Shares in Alphabet Inc. (NASDAQ:GOOGL)

Interval Partners LP bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 36,000 shares of the information services provider’s stock, valued at approximately $3,443,000.

A number of other institutional investors also recently modified their holdings of GOOGL. Massachusetts Financial Services Co. MA lifted its position in shares of Alphabet by 1,955.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 61,134,061 shares of the information services provider’s stock valued at $5,847,474,000 after acquiring an additional 58,159,150 shares during the period. Fisher Asset Management LLC increased its stake in Alphabet by 1,928.6% during the 3rd quarter. Fisher Asset Management LLC now owns 42,474,883 shares of the information services provider’s stock valued at $4,062,723,000 after purchasing an additional 40,381,114 shares in the last quarter. Jennison Associates LLC increased its stake in Alphabet by 1,690.3% during the 3rd quarter. Jennison Associates LLC now owns 26,231,920 shares of the information services provider’s stock valued at $2,509,083,000 after purchasing an additional 24,766,730 shares in the last quarter. Alecta Tjanstepension Omsesidigt increased its stake in Alphabet by 1,900.0% during the 3rd quarter. Alecta Tjanstepension Omsesidigt now owns 19,286,000 shares of the information services provider’s stock valued at $1,845,092,000 after purchasing an additional 18,321,700 shares in the last quarter. Finally, Barclays PLC increased its stake in Alphabet by 2,462.1% during the 3rd quarter. Barclays PLC now owns 18,694,427 shares of the information services provider’s stock valued at $1,788,124,000 after purchasing an additional 17,964,785 shares in the last quarter. Institutional investors and hedge funds own 34.06% of the company’s stock.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 855 shares of the firm’s stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 25,122 shares of the company’s stock, valued at $2,289,870.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Amie Thuener O’toole sold 855 shares of the firm’s stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 25,122 shares of the company’s stock, valued at $2,289,870.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Prabhakar Raghavan sold 22,203 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the senior vice president now directly owns 76,579 shares in the company, valued at $6,872,965.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 36,745 shares of company stock valued at $3,424,078. 11.44% of the stock is currently owned by corporate insiders.

Alphabet Trading Down 1.3 %

Shares of Alphabet stock opened at $93.86 on Wednesday. Alphabet Inc. has a 12-month low of $83.34 and a 12-month high of $143.79. The company has a market cap of $1.20 trillion, a price-to-earnings ratio of 20.63, a PEG ratio of 1.29 and a beta of 1.09. The company has a current ratio of 2.38, a quick ratio of 2.34 and a debt-to-equity ratio of 0.06. The company’s 50-day moving average price is $93.90 and its 200-day moving average price is $97.05.

Alphabet (NASDAQ:GOOGL – Get Rating) last announced its quarterly earnings results 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). Alphabet had a return on equity of 23.54% and a net margin of 21.20%. The firm had revenue of $76.05 billion during the quarter, compared to analysts’ expectations of $63.15 billion. During the same period in the previous year, the company posted $1.53 earnings per share. On average, equities analysts expect that Alphabet Inc. will post 5.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on GOOGL shares. Needham & Company LLC restated a “buy” rating and set a $115.00 price target on shares of Alphabet in a research note on Friday, February 3rd. Evercore ISI decreased their price target on shares of Alphabet from $130.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday, December 21st. Loop Capital boosted their price target on shares of Alphabet from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, February 8th. JMP Securities reiterated a “market outperform” rating and issued a $132.00 target price on shares of Alphabet in a research note on Friday, February 3rd. Finally, Tigress Financial reduced their target price on shares of Alphabet from $186.00 to $160.00 and set a “strong-buy” rating for the company in a research note on Friday, January 6th. Five analysts have rated the stock with a hold rating, thirty-three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.32.

Alphabet Company Profile

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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.