Alphabet Inc. (NASDAQ:GOOG) is Harspring Capital Management LLC’s 5th Largest Position

Harspring Capital Management LLC grew its stake in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 1,900.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 402,000 shares of the information services provider’s stock after buying an additional 381,900 shares during the quarter. Alphabet accounts for approximately 9.2% of Harspring Capital Management LLC’s portfolio, making the stock its 5th biggest position. Harspring Capital Management LLC’s holdings in Alphabet were worth $38,652,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Walled Lake Planning & Wealth Management LLC boosted its stake in shares of Alphabet by 1,900.0% in the 3rd quarter. Walled Lake Planning & Wealth Management LLC now owns 34,120 shares of the information services provider’s stock valued at $3,281,000 after buying an additional 32,414 shares during the period. Grand Jean Capital Management Inc. raised its position in shares of Alphabet by 1,926.2% during the 3rd quarter. Grand Jean Capital Management Inc. now owns 137,135 shares of the information services provider’s stock worth $13,186,000 after acquiring an additional 130,367 shares in the last quarter. Connecticut Wealth Management LLC raised its position in shares of Alphabet by 1,415.4% during the 3rd quarter. Connecticut Wealth Management LLC now owns 8,350 shares of the information services provider’s stock worth $803,000 after acquiring an additional 7,799 shares in the last quarter. Clarity Financial LLC raised its position in shares of Alphabet by 2,118.6% during the 3rd quarter. Clarity Financial LLC now owns 61,722 shares of the information services provider’s stock worth $5,935,000 after acquiring an additional 58,940 shares in the last quarter. Finally, Element Wealth LLC raised its position in shares of Alphabet by 2,245.1% during the 3rd quarter. Element Wealth LLC now owns 2,861 shares of the information services provider’s stock worth $275,000 after acquiring an additional 2,739 shares in the last quarter. Hedge funds and other institutional investors own 28.69% of the company’s stock.

Alphabet Stock Up 4.7 %

Alphabet stock opened at $101.07 on Friday. 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 Inc. has a 1-year low of $83.45 and a 1-year high of $144.16. The company has a market cap of $1.29 trillion, a PE ratio of 22.21, a price-to-earnings-growth ratio of 1.27 and a beta of 1.09. The stock’s 50 day moving average price is $95.41 and its 200 day moving average price is $96.87.

Alphabet (NASDAQ:GOOG – Get Rating) last posted its quarterly earnings results 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 business had revenue of $76.05 billion during the quarter, compared to analysts’ expectations of $76.49 billion. During the same quarter last year, the firm earned $1.53 earnings per share. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, sell-side analysts predict that Alphabet Inc. will post 5.12 EPS for the current fiscal year.

Insider Activity at Alphabet

In related news, SVP Prabhakar Raghavan sold 22,203 shares of Alphabet 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 sale, the senior vice president now directly owns 76,579 shares in the company, valued at $6,872,965.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Alphabet news, SVP Prabhakar Raghavan sold 22,203 shares of the business’s stock in a transaction on Tuesday, January 3rd. The stock was 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 $6,872,965.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the firm’s stock in a transaction on Monday, March 13th. The shares were purchased at an average price of $29.29 per share, for a total transaction of $12,155,350.00. Following the completion of the transaction, the insider now owns 1,709,527 shares of the company’s stock, valued at approximately $50,072,045.83. The disclosure for this purchase can be found here. Insiders have sold a total of 74,245 shares of company stock worth $7,174,078 over the last three months. 12.99% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

GOOG has been the topic of several research analyst reports. Cowen cut their target price on Alphabet from $135.00 to $125.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 11th. Oppenheimer raised their target price on Alphabet from $130.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday, February 3rd. Sanford C. Bernstein set a $130.00 target price on Alphabet in a research report on Monday, February 6th. Royal Bank of Canada set a $130.00 price target on Alphabet in a research report on Friday, February 3rd. Finally, JPMorgan Chase & Co. set a $118.00 price target on Alphabet in a research report on Thursday, February 9th. One equities research analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $137.13.

About Alphabet

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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.