Acadian Asset Management LLC Purchases 271,830 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Acadian Asset Management LLC increased its position in Alphabet Inc. (NASDAQ:GOOGL) by 18.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,719,677 shares of the information services provider’s stock after purchasing an additional 271,830 shares during the period. Alphabet makes up approximately 0.8% of Acadian Asset Management LLC’s holdings, making the stock its 14th biggest position. Acadian Asset Management LLC’s holdings in Alphabet were worth $178,347,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Live Oak Investment Partners bought a new position in Alphabet during the 4th quarter valued at about $26,000. Sanctuary Wealth Management L.L.C. bought a new position in Alphabet during the 4th quarter valued at about $34,000. Turim 21 Investimentos Ltda. bought a new position in Alphabet during the 3rd quarter valued at about $38,000. IAG Wealth Partners LLC lifted its stake in Alphabet by 100.0% during the 1st quarter. IAG Wealth Partners LLC now owns 400 shares of the information services provider’s stock valued at $41,000 after acquiring an additional 200 shares during the period. Finally, AM Squared Ltd bought a new position in Alphabet during the 4th quarter valued at about $44,000. Institutional investors own 35.08% of the company’s stock.

Alphabet Price Performance

GOOGL stock opened at $135.66 on Friday. Alphabet Inc. has a 12 month low of $83.34 and a 12 month high of $138.00. The company has a current ratio of 2.17, a quick ratio of 2.14 and a debt-to-equity ratio of 0.05. The company has a 50-day moving average price of $126.30 and a 200 day moving average price of $114.63. The stock has a market cap of $1.71 trillion, a PE ratio of 28.74, a P/E/G ratio of 1.51 and a beta of 1.06.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, July 25th. The information services provider reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.12. The company had revenue of $74.60 billion during the quarter, compared to analysts’ expectations of $60.24 billion. Alphabet had a net margin of 21.05% and a return on equity of 23.49%. During the same period in the previous year, the company earned $1.21 EPS. Equities research analysts anticipate that Alphabet Inc. will post 5.68 earnings per share for the current year.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of a number of research reports. KeyCorp raised their price objective on shares of Alphabet from $140.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, July 26th. Susquehanna reiterated a “positive” rating and set a $150.00 price target on shares of Alphabet in a research note on Thursday. Royal Bank of Canada lifted their price target on shares of Alphabet from $145.00 to $155.00 in a research note on Wednesday, July 26th. Evercore ISI lifted their price target on shares of Alphabet from $130.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 26th. Finally, UBS Group cut shares of Alphabet from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $123.00 to $132.00 in a research note on Monday, June 26th. Four research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average price target of $143.89.

Insider Buying and Selling at Alphabet

In other news, major shareholder 2019 Gp L.L.C. Gv sold 37,405 shares of the company’s stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $15.06, for a total value of $563,319.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $125.65, for a total value of $25,130.00. Following the completion of the sale, the director now owns 5,740 shares of the company’s stock, valued at approximately $721,231. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 37,405 shares of the business’s stock in a transaction that occurred on Tuesday, June 20th. The stock was sold at an average price of $15.06, for a total transaction of $563,319.30. The disclosure for this sale can be found here. Insiders sold a total of 154,043 shares of company stock valued at $7,411,558 in the last three months. Company insiders own 0.88% of the company’s stock.

Alphabet Company Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.