Toroso Investments LLC Raises Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Toroso Investments LLC increased its stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1,208.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 181,572 shares of the information services provider’s stock after purchasing an additional 167,692 shares during the quarter. Alphabet accounts for 0.7% of Toroso Investments LLC’s portfolio, making the stock its 23rd largest position. Toroso Investments LLC’s holdings in Alphabet were worth $17,367,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. IAG Wealth Partners LLC boosted its stake in shares of Alphabet by 3,275.0% during the 3rd quarter. IAG Wealth Partners LLC now owns 270 shares of the information services provider’s stock worth $26,000 after acquiring an additional 262 shares during the last quarter. Artemis Wealth Advisors LLC boosted its stake in shares of Alphabet by 1,900.0% during the 3rd quarter. Artemis Wealth Advisors LLC now owns 280 shares of the information services provider’s stock worth $27,000 after acquiring an additional 266 shares during the last quarter. Laurel Wealth Planning LLC boosted its stake in shares of Alphabet by 1,900.0% during the 3rd quarter. Laurel Wealth Planning LLC now owns 300 shares of the information services provider’s stock worth $29,000 after acquiring an additional 285 shares during the last quarter. Coston McIsaac & Partners boosted its stake in shares of Alphabet by 1,900.0% during the 3rd quarter. Coston McIsaac & Partners now owns 320 shares of the information services provider’s stock worth $30,000 after acquiring an additional 304 shares during the last quarter. Finally, Horizons Wealth Management purchased a new position in shares of Alphabet during the 2nd quarter worth $33,000. Hedge funds and other institutional investors own 34.06% of the company’s stock.

Insider Buying and Selling

In other Alphabet news, Director Kavitark Ram Shriram sold 37,500 shares of the business’s stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $100.00, for a total value of $3,750,000.00. Following the completion of the sale, the director now directly owns 144,740 shares of the company’s stock, valued at approximately $14,474,000. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the stock in a transaction on Monday, March 13th. The stock was bought at an average cost of $29.29 per share, with a total value of $12,155,350.00. Following the transaction, the insider now directly owns 1,709,527 shares in the company, valued at $50,072,045.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 37,500 shares of the business’s stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $100.00, for a total transaction of $3,750,000.00. Following the completion of the sale, the director now directly owns 144,740 shares of the company’s stock, valued at $14,474,000. The disclosure for this sale can be found here. In the last ninety days, insiders sold 74,245 shares of company stock valued at $7,174,078. Company insiders own 11.44% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on GOOGL shares. Morgan Stanley lifted their price target on shares of Alphabet from $125.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, February 3rd. KeyCorp lowered their target price on shares of Alphabet from $118.00 to $117.00 and set an “overweight” rating on the stock in a research note on Monday, January 30th. Wells Fargo & Company lifted 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. Mizuho lowered their target price on shares of Alphabet from $140.00 to $135.00 and set a “buy” rating on the stock in a research note on Wednesday, November 30th. Finally, Needham & Company LLC restated a “buy” rating and set a $115.00 target price on shares of Alphabet in a research note on Wednesday, March 8th. 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 company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.32.

Alphabet Price Performance

GOOGL stock opened at $100.32 on Friday. Alphabet Inc. has a 12 month low of $83.34 and a 12 month high of $143.79. The company has a current ratio of 2.38, a quick ratio of 2.34 and a debt-to-equity ratio of 0.06. The company has a 50-day moving average price of $94.79 and a 200 day moving average price of $96.32. The stock has a market cap of $1.28 trillion, a PE ratio of 22.04, a P/E/G ratio of 1.26 and a beta of 1.09.

Alphabet (NASDAQ:GOOGL – Get Rating) last released 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 return on equity of 23.54% and a net margin of 21.20%. The firm had revenue of $76.05 billion for the quarter, compared to analysts’ expectations of $63.15 billion. During the same period in the prior year, the firm posted $1.53 earnings per share. Equities research analysts anticipate 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.