Ocean Capital Management LLC Has $28.02 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Ocean Capital Management LLC trimmed its stake in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 0.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 200,550 shares of the information services provider’s stock after selling 197 shares during the quarter. Alphabet makes up about 11.3% of Ocean Capital Management LLC’s portfolio, making the stock its 4th biggest holding. Ocean Capital Management LLC’s holdings in Alphabet were worth $28,015,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. DC Investments Management LLC bought a new position in Alphabet in the first quarter valued at approximately $114,000. Bridgefront Capital LLC bought a new position in Alphabet in the first quarter valued at approximately $225,000. Worth Asset Management LLC bought a new position in shares of Alphabet during the 1st quarter worth approximately $206,000. Eudaimonia Advisors LLC boosted its stake in shares of Alphabet by 15.1% during the 1st quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock worth $275,000 after acquiring an additional 13 shares during the period. Finally, Aspire Capital Advisors LLC bought a new position in shares of Alphabet during the 1st quarter worth approximately $281,000. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Rosenblatt Securities reduced their target price on Alphabet from $174.00 to $172.00 and set a “buy” rating for the company in a research note on Wednesday, January 31st. Redburn Atlantic lifted their target price on Alphabet from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Wedbush lifted their target price on Alphabet from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Friday, March 22nd. BMO Capital Markets lifted their target price on Alphabet from $170.00 to $178.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. Finally, Mizuho lifted their target price on Alphabet from $155.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Five investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $155.48.

Check Out Our Latest Stock Report on GOOGL

Alphabet Price Performance

Alphabet stock opened at $150.93 on Monday. The stock has a fifty day moving average of $143.76 and a 200-day moving average of $138.33. Alphabet Inc. has a 52 week low of $99.78 and a 52 week high of $153.78. The stock has a market capitalization of $1.88 trillion, a P/E ratio of 26.02, a price-to-earnings-growth ratio of 1.39 and a beta of 1.04. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10.

Alphabet (NASDAQ:GOOGLGet Free Report) last released its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The firm had revenue of $86.31 billion for the quarter, compared to analyst estimates of $70.77 billion. During the same quarter in the previous year, the company posted $1.05 EPS. On average, sell-side analysts expect that Alphabet Inc. will post 6.77 earnings per share for the current fiscal year.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $140.11, for a total value of $3,152,475.00. Following the sale, the chief executive officer now owns 2,422,691 shares in the company, valued at approximately $339,443,236.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $140.11, for a total value of $3,152,475.00. Following the transaction, the chief executive officer now directly owns 2,422,691 shares of the company’s stock, valued at approximately $339,443,236.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Kent Walker sold 12,084 shares of the business’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $151.19, for a total value of $1,826,979.96. Following the completion of the transaction, the insider now directly owns 48,717 shares in the company, valued at $7,365,523.23. The disclosure for this sale can be found here. In the last quarter, insiders have sold 263,312 shares of company stock worth $37,268,315. Insiders own 0.88% of the company’s stock.

Alphabet Company Profile

(Free Report)

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, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

See Also

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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