Alphabet Inc. (NASDAQ:GOOGL) Shares Acquired by Firestone Capital Management

Firestone Capital Management lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 4.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,733 shares of the information services provider’s stock after purchasing an additional 249 shares during the quarter. Firestone Capital Management’s holdings in Alphabet were worth $506,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in GOOGL. Bornite Capital Management LP bought a new position in Alphabet in the 1st quarter worth approximately $16,688,000. Markel Corp grew its holdings in Alphabet by 17.0% in the 1st quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock worth $43,110,000 after buying an additional 2,250 shares in the last quarter. United Bank grew its holdings in Alphabet by 5.9% in the 1st quarter. United Bank now owns 2,033 shares of the information services provider’s stock worth $5,654,000 after buying an additional 113 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Alphabet by 23.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock worth $900,929,000 after buying an additional 61,427 shares in the last quarter. Finally, Dakota Wealth Management grew its holdings in Alphabet by 20.4% in the 1st quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock worth $25,806,000 after buying an additional 1,570 shares in the last quarter. 34.06% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $122.76 on Friday. Alphabet Inc. has a fifty-two week low of $83.34 and a fifty-two week high of $125.97. The business has a 50-day moving average of $106.43 and a two-hundred day moving average of $98.18. The stock has a market capitalization of $1.56 trillion, a P/E ratio of 27.34, a P/E/G ratio of 1.57 and a beta of 1.10. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.35 and a quick ratio of 2.32.

Alphabet (NASDAQ:GOOGL – Get Rating) last announced its quarterly earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.11. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. The company had revenue of $69.79 billion during the quarter, compared to analysts’ expectations of $57.19 billion. During the same quarter in the previous year, the firm earned $1.23 earnings per share. On average, equities research analysts predict that Alphabet Inc. will post 5.41 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on GOOGL shares. KeyCorp decreased their price target on Alphabet from $118.00 to $117.00 and set an “overweight” rating for the company in a research note on Monday, January 30th. Robert W. Baird increased their price target on Alphabet from $120.00 to $123.00 and gave the company an “outperform” rating in a research note on Wednesday, April 26th. Bank of America increased their price target on Alphabet from $125.00 to $128.00 and gave the company a “buy” rating in a research note on Wednesday, April 26th. Loop Capital lowered Alphabet from a “buy” rating to a “hold” rating and set a $125.00 price target for the company. in a research note on Monday, May 15th. Finally, StockNews.com started coverage on Alphabet in a research note on Thursday. They set a “buy” rating for the company. Four investment analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $130.06.

Insiders Place Their Bets

In other news, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of Alphabet stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $14.13, for a total value of $1,423,908.36. Following the transaction, the insider now directly owns 11,421,476 shares in the company, valued at $161,385,455.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the stock in a transaction that occurred on Monday, March 13th. The shares were purchased at an average cost of $29.29 per share, for a total transaction of $12,155,350.00. Following the completion of the purchase, the insider now directly owns 1,709,527 shares of the company’s stock, valued at approximately $50,072,045.83. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of the business’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $14.13, for a total value of $1,423,908.36. Following the transaction, the insider now owns 11,421,476 shares in the company, valued at $161,385,455.88. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 732,217 shares of company stock valued at $21,135,371 and sold 601,450 shares valued at $28,354,856. Insiders own 0.88% of the company’s stock.

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.