Alphabet Inc. (NASDAQ:GOOGL) Shares Acquired by Tobam

Tobam increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 11.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 14,363 shares of the information services provider’s stock after purchasing an additional 1,510 shares during the period. Tobam’s holdings in Alphabet were worth $2,006,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. RWQ Financial Management Services Inc. boosted its position in shares of Alphabet by 8.2% during the 4th quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock worth $8,591,000 after purchasing an additional 4,664 shares during the period. Ballast Advisors LLC boosted its position in Alphabet by 9.6% in the 3rd quarter. Ballast Advisors LLC now owns 15,747 shares of the information services provider’s stock valued at $2,061,000 after buying an additional 1,385 shares during the period. Quantum Financial Advisors LLC boosted its position in Alphabet by 8.0% in the 3rd quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock valued at $998,000 after buying an additional 564 shares during the period. Acadian Asset Management LLC boosted its position in Alphabet by 2.4% in the 3rd quarter. Acadian Asset Management LLC now owns 4,416,533 shares of the information services provider’s stock valued at $577,908,000 after buying an additional 104,366 shares during the period. Finally, NatWest Group plc boosted its position in Alphabet by 239.0% in the 4th quarter. NatWest Group plc now owns 100,793 shares of the information services provider’s stock valued at $14,080,000 after buying an additional 71,057 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on GOOGL shares. StockNews.com raised shares of Alphabet from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 20th. Wedbush reissued an “outperform” rating and issued a $175.00 price target on shares of Alphabet in a research report on Wednesday, April 10th. Wolfe Research raised their price target on shares of Alphabet from $170.00 to $180.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Rosenblatt Securities decreased their price target on shares of Alphabet from $174.00 to $172.00 and set a “buy” rating for the company in a research report on Wednesday, January 31st. Finally, Wells Fargo & Company lowered their target price on shares of Alphabet from $144.00 to $141.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 3rd. Five investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average price target of $155.61.

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 800 shares of the company’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $159.56, for a total transaction of $127,648.00. Following the transaction, the director now directly owns 7,991 shares in the company, valued at $1,275,043.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $142.14, for a total transaction of $3,198,150.00. Following the transaction, the chief executive officer now directly owns 2,400,191 shares in the company, valued at $341,163,148.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John L. Hennessy sold 800 shares of the company’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $159.56, for a total transaction of $127,648.00. Following the transaction, the director now owns 7,991 shares in the company, valued at $1,275,043.96. The disclosure for this sale can be found here. Insiders sold 251,339 shares of company stock valued at $36,033,907 over the last ninety days. Corporate insiders own 0.88% of the company’s stock.

Alphabet Trading Down 1.8 %

NASDAQ GOOGL opened at $154.86 on Tuesday. The stock has a market capitalization of $1.93 trillion, a P/E ratio of 26.70, a P/E/G ratio of 1.46 and a beta of 1.05. Alphabet Inc. has a 52-week low of $102.63 and a 52-week high of $160.22. The firm has a 50-day moving average price of $145.55 and a 200 day moving average price of $140.02. 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.04. The firm had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $70.77 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. During the same period in the prior year, the company posted $1.05 earnings per share. Equities research analysts expect that Alphabet Inc. will post 6.78 EPS for the current year.

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.