Alphabet Inc. $GOOGL is Dudley Capital Management LLC’s 7th Largest Position

Dudley Capital Management LLC lessened its position in Alphabet Inc. (NASDAQ:GOOGL) by 5.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 31,658 shares of the information services provider’s stock after selling 1,956 shares during the quarter. Alphabet makes up about 2.8% of Dudley Capital Management LLC’s holdings, making the stock its 7th biggest holding. Dudley Capital Management LLC’s holdings in Alphabet were worth $5,579,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Guardian Wealth Management Inc. lifted its position in shares of Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 119 shares in the last quarter. von Borstel & Associates Inc. purchased a new stake in shares of Alphabet in the 1st quarter valued at approximately $28,000. IMA Advisory Services Inc. purchased a new stake in shares of Alphabet in the 1st quarter valued at approximately $28,000. NBZ Investment Advisors LLC lifted its position in Alphabet by 85.7% in the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after buying an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new stake in Alphabet in the 1st quarter worth approximately $39,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total value of $8,108,750.00. Following the transaction, the chief executive officer directly owned 2,397,392 shares in the company, valued at approximately $598,149,304. This trade represents a 1.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the transaction, the chief accounting officer owned 17,293 shares in the company, valued at $4,236,785. The trade was a 13.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 246,150 shares of company stock worth $55,805,379 in the last 90 days. 11.64% of the stock is owned by insiders.

Alphabet Stock Performance

Shares of GOOGL opened at $281.31 on Friday. The company’s fifty day moving average is $244.00 and its 200-day moving average is $199.98. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $291.59. The firm has a market cap of $3.40 trillion, a price-to-earnings ratio of 27.74, a price-to-earnings-growth ratio of 1.86 and a beta of 1.00. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The company had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Equities analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on GOOGL shares. BMO Capital Markets set a $294.00 target price on shares of Alphabet and gave the stock an “outperform” rating in a research report on Thursday, October 9th. JPMorgan Chase & Co. increased their target price on shares of Alphabet from $300.00 to $340.00 and gave the stock an “overweight” rating in a research report on Thursday. Robert W. Baird increased their target price on shares of Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. DA Davidson increased their target price on shares of Alphabet from $190.00 to $300.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, CIBC increased their target price on shares of Alphabet to $315.00 in a research report on Monday, October 20th. Three analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $302.20.

Alphabet Company 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.