Davis Rea LTD. Has $13.90 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Davis Rea LTD. raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 99,485 shares of the information services provider’s stock after buying an additional 5,585 shares during the period. Alphabet makes up approximately 7.1% of Davis Rea LTD.’s portfolio, making the stock its 4th largest position. Davis Rea LTD.’s holdings in Alphabet were worth $13,897,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Live Oak Investment Partners bought a new position in shares of Alphabet in the fourth quarter valued at $26,000. Sanctuary Wealth Management L.L.C. bought a new position in shares of Alphabet in the fourth quarter valued at $34,000. Turim 21 Investimentos Ltda. bought a new position in shares of Alphabet in the third quarter valued at $38,000. Meritage Group LP grew its stake in shares of Alphabet by 1,061.5% in the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after buying an additional 276 shares in the last quarter. Finally, Macroview Investment Management LLC grew its stake in shares of Alphabet by 165.8% in the third quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock valued at $42,000 after buying an additional 199 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Truist Financial decreased their target price on shares of Alphabet from $160.00 to $158.00 and set a “buy” rating for the company in a research note on Wednesday, January 31st. Barclays cut their price target on Alphabet from $180.00 to $173.00 and set an “overweight” rating for the company in a report on Wednesday, January 31st. Needham & Company LLC reaffirmed a “buy” rating and set a $160.00 price target on shares of Alphabet in a report on Wednesday, January 31st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $155.00 price target on shares of Alphabet in a report on Wednesday, January 31st. Finally, Rosenblatt Securities cut their price target on Alphabet from $174.00 to $172.00 and set a “buy” rating for the company in a report on Wednesday, January 31st. Five research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $155.61.

Alphabet Stock Down 1.1 %

GOOGL stock opened at $157.73 on Friday. The company has a market cap of $1.96 trillion, a PE ratio of 27.19, a price-to-earnings-growth ratio of 1.44 and a beta of 1.05. The business has a 50-day simple moving average of $145.33 and a 200 day simple moving average of $139.72. Alphabet Inc. has a 52 week low of $102.63 and a 52 week high of $160.22. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last posted 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. The business had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $70.77 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. During the same quarter in the previous year, the firm earned $1.05 earnings per share. Sell-side analysts anticipate that Alphabet Inc. will post 6.78 EPS for the current fiscal year.

Insider Buying and Selling at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 3,258 shares of Alphabet stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the transaction, the senior vice president now owns 144,685 shares in the company, valued at $22,566,519.45. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Alphabet news, SVP Prabhakar Raghavan sold 3,258 shares of Alphabet stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the transaction, the senior vice president now owns 144,685 shares in the company, valued at $22,566,519.45. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $155.67, for a total value of $3,502,575.00. Following the completion of the transaction, the chief executive officer now owns 2,325,513 shares in the company, valued at approximately $362,012,608.71. The disclosure for this sale can be found here. Insiders have sold a total of 250,539 shares of company stock worth $35,906,259 over the last 90 days. Insiders own 0.88% of the company’s stock.

About Alphabet

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.