Cheviot Value Management LLC Has $21.40 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Cheviot Value Management LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 2,105.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 223,715 shares of the information services provider’s stock after acquiring an additional 213,569 shares during the quarter. Alphabet makes up about 5.8% of Cheviot Value Management LLC’s portfolio, making the stock its 2nd biggest position. Cheviot Value Management LLC’s holdings in Alphabet were worth $21,398,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. DC Investments Management LLC purchased a new stake in shares of Alphabet during the 1st quarter valued at $114,000. Bridgefront Capital LLC purchased a new stake in Alphabet in the first quarter valued at about $225,000. Worth Asset Management LLC acquired a new stake in Alphabet in the first quarter worth about $206,000. Eudaimonia Advisors LLC grew its stake in shares of Alphabet by 15.1% during the first quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock worth $275,000 after acquiring an additional 13 shares during the last quarter. Finally, Aspire Capital Advisors LLC acquired a new position in shares of Alphabet during the first quarter valued at about $281,000. 34.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 637 shares of the firm’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $90.15, for a total value of $57,425.55. Following the transaction, 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 available at the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 22,203 shares of Alphabet stock in a transaction dated 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 transaction, the senior vice president now directly owns 76,579 shares of the company’s stock, valued at $6,872,965.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 637 shares of the business’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $90.15, for a total transaction of $57,425.55. Following the completion of the transaction, the chief accounting officer now owns 25,442 shares in the company, valued at $2,293,596.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,745 shares of company stock worth $3,424,078. 11.44% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have weighed in on GOOGL. Rosenblatt Securities dropped their target price on shares of Alphabet from $130.00 to $128.00 and set a “buy” rating on the stock in a research report on Friday, February 3rd. Wells Fargo & Company raised their target price on Alphabet from $145.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, February 3rd. New Street Research began coverage on Alphabet in a research note on Wednesday, January 4th. They set a “buy” rating and a $118.00 price target on the stock. Bank of America raised their price objective on Alphabet from $116.00 to $119.00 and gave the stock a “buy” rating in a research note on Tuesday, January 31st. Finally, KeyCorp decreased their target price on Alphabet from $118.00 to $117.00 and set an “overweight” rating for the company in a report on Monday, January 30th. Five equities research analysts have rated the stock with a hold rating, thirty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $132.32.

Alphabet Price Performance

Shares of Alphabet stock opened at $94.25 on Thursday. The stock has a market capitalization of $1.21 trillion, a P/E ratio of 20.71, a PEG ratio of 1.31 and a beta of 1.09. The business has a 50 day simple moving average of $94.07 and a two-hundred day simple moving average of $97.03. Alphabet Inc. has a 12 month low of $83.34 and a 12 month high of $143.79. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.38 and a quick ratio of 2.34.

Alphabet (NASDAQ:GOOGL – Get Rating) last announced its quarterly earnings data on Thursday, February 2nd. The information services provider reported $1.05 earnings per share 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 firm had revenue of $76.05 billion during the quarter, compared to analysts’ expectations of $63.15 billion. During the same quarter in the previous year, the business posted $1.53 EPS. As a group, analysts predict that Alphabet Inc. will post 5.12 EPS for the current fiscal 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.