Commons Capital LLC Raises Stake in Alphabet Inc. (NASDAQ:GOOGL)

Commons Capital LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1,861.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 34,980 shares of the information services provider’s stock after buying an additional 33,197 shares during the period. Alphabet accounts for about 5.3% of Commons Capital LLC’s portfolio, making the stock its 4th largest holding. Commons Capital LLC’s holdings in Alphabet were worth $3,346,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Willow Creek Wealth Management Inc. boosted its position in shares of Alphabet by 1,926.9% in the third quarter. Willow Creek Wealth Management Inc. now owns 18,546 shares of the information services provider’s stock valued at $1,774,000 after acquiring an additional 17,631 shares during the period. Louisiana State Employees Retirement System acquired a new stake in Alphabet in the 3rd quarter worth about $55,305,000. Griffin Asset Management Inc. boosted its holdings in Alphabet by 1,900.0% in the 3rd quarter. Griffin Asset Management Inc. now owns 52,240 shares of the information services provider’s stock valued at $4,997,000 after purchasing an additional 49,628 shares during the period. Bridgewater Advisors Inc. grew its position in shares of Alphabet by 3,005.0% during the 3rd quarter. Bridgewater Advisors Inc. now owns 67,503 shares of the information services provider’s stock worth $6,457,000 after purchasing an additional 65,329 shares in the last quarter. Finally, Adell Harriman & Carpenter Inc. increased its holdings in shares of Alphabet by 1,915.2% during the third quarter. Adell Harriman & Carpenter Inc. now owns 129,797 shares of the information services provider’s stock worth $12,415,000 after purchasing an additional 123,356 shares during the period. Institutional investors and hedge funds own 34.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating and issued a $115.00 price target on shares of Alphabet in a research note on Wednesday, March 8th. Roth Capital reiterated a “buy” rating on shares of Alphabet in a research report on Friday, February 3rd. Tigress Financial decreased their price target on Alphabet from $186.00 to $160.00 and set a “strong-buy” rating on the stock in a research report on Friday, January 6th. Credit Suisse Group cut their price objective on shares of Alphabet from $145.00 to $136.00 and set an “outperform” rating for the company in a research report on Friday, February 3rd. Finally, Bank of America increased their price objective on shares of Alphabet from $116.00 to $119.00 and gave the stock a “buy” rating in a research note on Tuesday, January 31st. Five research analysts have rated the stock with a hold rating, thirty-three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $132.32.

Alphabet Stock Up 0.5 %

Shares of NASDAQ GOOGL opened at $91.11 on Tuesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.38 and a quick ratio of 2.34. The company has a 50-day moving average price of $94.25 and a 200-day moving average price of $96.41. The stock has a market capitalization of $1.17 trillion, a P/E ratio of 20.02, a P/E/G ratio of 1.25 and a beta of 1.09. Alphabet Inc. has a 1 year low of $83.34 and a 1 year high of $143.79.

Alphabet (NASDAQ:GOOGL – Get Rating) last issued its quarterly earnings data on Thursday, February 2nd. The information services provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.09). The company had revenue of $76.05 billion during the quarter, compared to analysts’ expectations of $63.15 billion. Alphabet had a return on equity of 23.54% and a net margin of 21.20%. During the same period last year, the company earned $1.53 earnings per share. On average, equities research analysts forecast that Alphabet Inc. will post 5.12 EPS for the current fiscal year.

Insider Activity at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 22,203 shares of the stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $89.75, for a total value of $1,992,719.25. Following the completion of the sale, the senior vice president now owns 76,579 shares in the company, valued at approximately $6,872,965.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, insider John Kent Walker sold 11,313 shares of the stock in a transaction dated Monday, January 23rd. The shares were sold at an average price of $100.00, for a total transaction of $1,131,300.00. Following the completion of the transaction, the insider now owns 41,970 shares in the company, valued at $4,197,000. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Prabhakar Raghavan sold 22,203 shares of the firm’s stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total value of $1,992,719.25. Following the completion of the sale, the senior vice president now directly owns 76,579 shares of the company’s stock, valued at $6,872,965.25. The disclosure for this sale can be found here. In the last three months, insiders sold 36,745 shares of company stock valued at $3,424,078. 11.44% of the stock is owned by insiders.

Alphabet 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.