Taylor Hoffman Wealth Management Increases Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Taylor Hoffman Wealth Management increased its position in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1,905.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,680 shares of the information services provider’s stock after acquiring an additional 14,898 shares during the period. Taylor Hoffman Wealth Management’s holdings in Alphabet were worth $1,500,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. raised its stake in Alphabet by 1,677.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 444,768 shares of the information services provider’s stock valued at $42,541,000 after buying an additional 419,742 shares during the last quarter. Oppenheimer Asset Management Inc. raised its stake in Alphabet by 1,855.8% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 554,166 shares of the information services provider’s stock valued at $53,004,000 after buying an additional 525,831 shares during the last quarter. Hickory Lane Capital Management LP raised its stake in Alphabet by 1,553.8% during the 3rd quarter. Hickory Lane Capital Management LP now owns 32,250 shares of the information services provider’s stock valued at $3,085,000 after buying an additional 30,300 shares during the last quarter. Amussen Hunsaker Associates LLC raised its stake in Alphabet by 2,006.2% during the 3rd quarter. Amussen Hunsaker Associates LLC now owns 79,530 shares of the information services provider’s stock valued at $7,682,000 after buying an additional 75,754 shares during the last quarter. Finally, Cypress Asset Management Inc. TX raised its stake in Alphabet by 1,894.5% during the 3rd quarter. Cypress Asset Management Inc. TX now owns 34,725 shares of the information services provider’s stock valued at $3,321,000 after buying an additional 32,984 shares during the last quarter. 34.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on GOOGL shares. Wells Fargo & Company boosted their target price on shares of Alphabet from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, February 3rd. Evercore ISI decreased their target price 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. Jefferies Financial Group restated a “buy” rating and issued a $130.00 price objective on shares of Alphabet in a research note on Friday, February 10th. Mizuho reduced their price objective on Alphabet from $140.00 to $135.00 and set a “buy” rating for the company in a research note on Wednesday, November 30th. Finally, Rosenblatt Securities reduced their price objective on Alphabet from $130.00 to $128.00 and set a “buy” rating for the company in a research note on Friday, February 3rd. Five analysts have rated the stock with a hold rating, thirty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $132.32.

Insider Activity at Alphabet

In related news, Director Ann Mather sold 380 shares of the stock in a transaction dated Tuesday, December 27th. The shares were sold at an average price of $89.24, for a total value of $33,911.20. Following the completion of the transaction, the director now owns 11,300 shares of the company’s stock, valued at approximately $1,008,412. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CAO Amie Thuener O’toole sold 637 shares of the stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $90.15, for a total value of $57,425.55. Following the sale, the chief accounting officer now directly owns 25,442 shares of the company’s stock, valued at approximately $2,293,596.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ann Mather sold 380 shares of the stock in a transaction dated Tuesday, December 27th. The stock was sold at an average price of $89.24, for a total transaction of $33,911.20. Following the completion of the sale, the director now directly owns 11,300 shares in the company, valued at $1,008,412. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,745 shares of company stock valued at $3,424,078. Insiders own 11.44% of the company’s stock.

Alphabet Stock Down 1.3 %

Shares of NASDAQ:GOOGL opened at $93.86 on Wednesday. The company has a current ratio of 2.38, a quick ratio of 2.34 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a 12 month low of $83.34 and a 12 month high of $143.79. The company has a 50-day moving average price of $93.90 and a 200 day moving average price of $97.05. 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.

Alphabet (NASDAQ:GOOGL – Get Rating) last announced its quarterly earnings results on Thursday, February 2nd. The information services provider reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). Alphabet had a net margin of 21.20% and a return on equity of 23.54%. The business had revenue of $76.05 billion during the quarter, compared to the consensus estimate of $63.15 billion. During the same period in the previous year, the business posted $1.53 EPS. As a group, equities research analysts predict that Alphabet Inc. will post 5.12 earnings per share for the current year.

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.