Alphabet Inc. (NASDAQ:GOOGL) Shares Purchased by Sawgrass Asset Management LLC

Sawgrass Asset Management LLC increased its holdings in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 25.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 245,569 shares of the information services provider’s stock after purchasing an additional 49,139 shares during the period. Alphabet makes up 3.0% of Sawgrass Asset Management LLC’s portfolio, making the stock its 5th biggest position. Sawgrass Asset Management LLC’s holdings in Alphabet were worth $21,667,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Baltimore Washington Financial Advisors Inc. raised its position in Alphabet by 0.7% in the fourth quarter. Baltimore Washington Financial Advisors Inc. now owns 74,137 shares of the information services provider’s stock worth $6,541,000 after purchasing an additional 529 shares in the last quarter. Lwmg LLC bought a new stake in Alphabet during the fourth quarter worth about $369,000. Qsemble Capital Management LP bought a new stake in Alphabet during the fourth quarter worth about $521,000. RiverGlades Family Offices LLC bought a new stake in Alphabet during the fourth quarter worth about $508,000. Finally, Elequin Securities LLC bought a new stake in Alphabet during the fourth quarter worth about $85,000. Institutional investors and hedge funds own 34.06% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. 1-800-FLOWERS.COM reissued a “downgrade” rating on shares of Alphabet in a research note on Monday, May 15th. Rosenblatt Securities decreased their price target on shares of Alphabet from $130.00 to $128.00 and set a “buy” rating on the stock in a research note on Friday, February 3rd. Loop Capital cut shares of Alphabet from a “buy” rating to a “hold” rating and set a $125.00 price target on the stock. in a research note on Monday, May 15th. Morgan Stanley increased their price target on shares of Alphabet from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Wednesday, April 26th. Finally, Raymond James increased their price target on shares of Alphabet from $119.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday, April 26th. Four investment analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $130.06.

Alphabet Trading Down 0.1 %

Shares of GOOGL opened at $122.76 on Monday. Alphabet Inc. has a 52-week low of $83.34 and a 52-week high of $125.97. The business’s fifty day moving average is $106.43 and its 200-day moving average is $98.26. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.32 and a current ratio of 2.35. The firm has a market cap of $1.56 trillion, a price-to-earnings ratio of 27.34, a PEG ratio of 1.56 and a beta of 1.10.

Alphabet (NASDAQ:GOOGL – Get Rating) last issued its quarterly earnings data 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. The business had revenue of $69.79 billion for the quarter, compared to analyst estimates of $57.19 billion. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. During the same quarter in the previous year, the company posted $1.23 EPS. Equities analysts anticipate that Alphabet Inc. will post 5.41 EPS for the current fiscal year.

Insider Buying and Selling

In other Alphabet news, Director Ann Mather sold 380 shares of Alphabet stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $90.05, for a total transaction of $34,219.00. Following the transaction, the director now directly owns 11,300 shares of the company’s stock, valued at approximately $1,017,565. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Alphabet news, Director Ann Mather sold 380 shares of Alphabet stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $90.05, for a total transaction of $34,219.00. Following the transaction, the director now directly owns 11,300 shares of the company’s stock, valued at approximately $1,017,565. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Prabhakar Raghavan sold 32,379 shares of Alphabet stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $103.46, for a total value of $3,349,931.34. Following the transaction, the senior vice president now directly owns 76,580 shares in the company, valued at $7,922,966.80. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 732,217 shares of company stock worth $21,135,371 and have sold 601,450 shares worth $28,354,856. 0.88% of the stock is currently owned by corporate insiders.

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.