Wealthsource Partners LLC Purchases 25,410 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Wealthsource Partners LLC boosted its position in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 2,272.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 26,528 shares of the information services provider’s stock after acquiring an additional 25,410 shares during the period. Wealthsource Partners LLC’s holdings in Alphabet were worth $2,537,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of GOOGL. Vanguard Group Inc. increased its position in Alphabet by 1,919.4% during the 3rd quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock valued at $45,628,484,000 after purchasing an additional 453,413,389 shares during the period. State Street Corp increased its position in shares of Alphabet by 1,900.6% during the third quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock valued at $20,770,809,000 after buying an additional 206,300,042 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Alphabet by 1,759.2% in the third quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock worth $11,106,502,000 after buying an additional 109,870,525 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Alphabet by 1,955.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 61,134,061 shares of the information services provider’s stock worth $5,847,474,000 after buying an additional 58,159,150 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Alphabet by 1,896.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 58,060,946 shares of the information services provider’s stock valued at $5,553,529,000 after acquiring an additional 55,153,448 shares in the last quarter. Hedge funds and other institutional investors own 34.06% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the subject of several research reports. Needham & Company LLC reissued a “buy” rating and issued a $115.00 target price on shares of Alphabet in a research report on Wednesday, March 8th. Morgan Stanley boosted their target price on shares of Alphabet from $125.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, February 3rd. Wells Fargo & Company upped their target price on shares of Alphabet from $145.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, February 3rd. Truist Financial lowered their price target on shares of Alphabet from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, February 3rd. Finally, New Street Research started coverage on shares of Alphabet in a report on Wednesday, January 4th. They issued a “buy” rating and a $118.00 price objective on the stock. Five 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 company presently has an average rating of “Moderate Buy” and a consensus target price of $132.32.

Insider Buying and Selling at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 22,203 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 76,579 shares in the company, valued at approximately $6,872,965.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Prabhakar Raghavan sold 22,203 shares of the company’s 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 sale, the senior vice president now directly owns 76,579 shares in the company, valued at approximately $6,872,965.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Kent Walker sold 11,313 shares of Alphabet stock in a transaction dated Monday, January 23rd. The stock was sold at an average price of $100.00, for a total value of $1,131,300.00. Following the completion of the transaction, the insider now owns 41,970 shares of the company’s stock, valued at approximately $4,197,000. The disclosure for this sale can be found here. Insiders have sold a total of 36,745 shares of company stock valued at $3,424,078 over the last ninety days. 11.44% of the stock is currently owned by company insiders.

Alphabet Stock Performance

Shares of GOOGL opened at $93.97 on Wednesday. Alphabet Inc. has a 52 week low of $83.34 and a 52 week high of $143.79. The company has a quick ratio of 2.34, a current ratio of 2.38 and a debt-to-equity ratio of 0.06. The stock has a market cap of $1.20 trillion, a price-to-earnings ratio of 20.65, a PEG ratio of 1.25 and a beta of 1.09. The business has a 50-day simple moving average of $94.35 and a two-hundred day simple moving average of $96.30.

Alphabet (NASDAQ:GOOGL – Get Rating) last released its 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). The firm had revenue of $76.05 billion for the quarter, compared to the consensus estimate of $63.15 billion. Alphabet had a return on equity of 23.54% and a net margin of 21.20%. During the same quarter in the previous year, the business posted $1.53 EPS. On average, analysts expect that Alphabet Inc. will post 5.12 EPS 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.