Lannebo Fonder AB Purchases 1,577 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Lannebo Fonder AB increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 411,577 shares of the information services provider’s stock after buying an additional 1,577 shares during the period. Alphabet makes up 7.6% of Lannebo Fonder AB’s holdings, making the stock its 2nd biggest holding. Lannebo Fonder AB’s holdings in Alphabet were worth $57,674,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Live Oak Investment Partners bought a new stake in Alphabet during the 4th quarter worth about $26,000. Sanctuary Wealth Management L.L.C. bought a new stake in Alphabet during the 4th quarter worth about $34,000. Turim 21 Investimentos Ltda. bought a new stake in Alphabet during the 3rd quarter worth about $38,000. Meritage Group LP raised its holdings in Alphabet by 1,061.5% during the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after purchasing an additional 276 shares during the last quarter. Finally, Macroview Investment Management LLC raised its holdings in Alphabet by 165.8% during the 3rd quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock worth $42,000 after purchasing an additional 199 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Trading Down 1.1 %

NASDAQ GOOGL opened at $157.73 on Friday. The company has a market cap of $1.96 trillion, a PE ratio of 27.19, a PEG ratio of 1.44 and a beta of 1.05. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12 month low of $102.63 and a 12 month high of $160.22. The stock has a 50 day moving average of $145.33 and a 200-day moving average of $139.72.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. The company 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 prior year, the firm posted $1.05 EPS. On average, equities research analysts anticipate that Alphabet Inc. will post 6.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GOOGL has been the subject of several recent research reports. BMO Capital Markets reissued an “outperform” rating and set a $185.00 price objective (up from $178.00) on shares of Alphabet in a report on Wednesday. KeyCorp upped their price target on Alphabet from $153.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, January 29th. Truist Financial lowered their price target on Alphabet from $160.00 to $158.00 and set a “buy” rating for the company in a research note on Wednesday, January 31st. Wedbush reaffirmed an “outperform” rating and issued a $175.00 price target on shares of Alphabet in a research note on Wednesday. Finally, Citigroup reaffirmed a “buy” rating and issued a $168.00 price target on shares of Alphabet in a research note on Wednesday. Five research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $155.61.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $142.14, for a total value of $3,198,150.00. Following the sale, the chief executive officer now owns 2,400,191 shares in the company, valued at approximately $341,163,148.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $142.14, for a total value of $3,198,150.00. Following the sale, the chief executive officer now owns 2,400,191 shares in the company, valued at approximately $341,163,148.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Prabhakar Raghavan sold 3,258 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $155.97, for a total value of $508,150.26. Following the completion of the sale, the senior vice president now owns 144,685 shares in the company, valued at approximately $22,566,519.45. The disclosure for this sale can be found here. In the last quarter, insiders have sold 250,539 shares of company stock worth $35,906,259. Company insiders own 0.88% of the company’s stock.

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