Blue Door Asset Management LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 28.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,660 shares of the information services provider’s stock after buying an additional 11,120 shares during the quarter. Alphabet makes up about 2.9% of Blue Door Asset Management LLC’s investment portfolio, making the stock its 10th largest holding. Blue Door Asset Management LLC’s holdings in Alphabet were worth $5,151,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. BlueCrest Capital Management Ltd increased its holdings in Alphabet by 118.2% in the first quarter. BlueCrest Capital Management Ltd now owns 187,545 shares of the information services provider’s stock valued at $19,454,000 after buying an additional 101,586 shares during the last quarter. Auxier Asset Management grew its position in shares of Alphabet by 2.9% in the 1st quarter. Auxier Asset Management now owns 87,940 shares of the information services provider’s stock worth $9,122,000 after acquiring an additional 2,460 shares in the last quarter. Vontobel Asset Management Inc. increased its holdings in shares of Alphabet by 188.8% in the 1st quarter. Vontobel Asset Management Inc. now owns 842,393 shares of the information services provider’s stock valued at $92,196,000 after acquiring an additional 550,724 shares during the last quarter. Schonfeld Strategic Advisors LLC raised its position in shares of Alphabet by 588.8% during the 1st quarter. Schonfeld Strategic Advisors LLC now owns 698,409 shares of the information services provider’s stock valued at $72,446,000 after acquiring an additional 597,017 shares in the last quarter. Finally, Vista Equity Partners Management LLC bought a new position in Alphabet during the first quarter worth $11,329,000. Institutional investors own 35.08% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on GOOGL shares. KeyCorp increased their target price on shares of Alphabet from $140.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, July 26th. Tigress Financial raised their target price on shares of Alphabet from $160.00 to $172.00 and gave the stock a “strong-buy” rating in a report on Friday, July 14th. JPMorgan Chase & Co. upped their target price on Alphabet from $121.00 to $150.00 in a report on Wednesday, July 26th. StockNews.com began coverage on Alphabet in a report on Thursday, August 17th. They issued a “buy” rating on the stock. Finally, Susquehanna restated a “positive” rating and set a $150.00 price objective on shares of Alphabet in a research note on Thursday, August 31st. Four research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $143.89.
Alphabet Price Performance
Shares of NASDAQ:GOOGL opened at $136.92 on Tuesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.14 and a current ratio of 2.17. The company has a market capitalization of $1.73 trillion, a PE ratio of 29.01, a price-to-earnings-growth ratio of 1.56 and a beta of 1.06. The stock has a fifty day moving average of $128.28 and a 200-day moving average of $116.56. Alphabet Inc. has a one year low of $83.34 and a one year high of $138.00.
Alphabet (NASDAQ:GOOGL – Get Free Report) last released its quarterly earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.12. The business had revenue of $74.60 billion during the quarter, compared to analyst estimates of $60.24 billion. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. During the same quarter last year, the company posted $1.21 EPS. As a group, equities analysts anticipate that Alphabet Inc. will post 5.68 EPS for the current fiscal year.
Insider Transactions at Alphabet
In related news, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $137.30, for a total value of $27,460.00. Following the completion of the sale, the director now owns 7,584 shares in the company, valued at approximately $1,041,283.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction on Monday, September 11th. The stock was sold at an average price of $137.30, for a total transaction of $27,460.00. Following the transaction, the director now owns 7,584 shares in the company, valued at $1,041,283.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ann Mather sold 220 shares of the stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $121.75, for a total value of $26,785.00. Following the completion of the sale, the director now directly owns 4,759 shares of the company’s stock, valued at $579,408.25. The disclosure for this sale can be found here. Insiders have sold a total of 168,989 shares of company stock valued at $13,314,006 over the last ninety days. Corporate insiders own 0.88% of the company’s stock.
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.
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