Callahan Advisors LLC Boosts Stake in Alphabet Inc. (NASDAQ:GOOGL)

Callahan Advisors LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 18,881 shares of the information services provider’s stock after purchasing an additional 108 shares during the period. Callahan Advisors LLC’s holdings in Alphabet were worth $2,638,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Live Oak Investment Partners purchased a new position in shares of Alphabet in the fourth quarter worth about $26,000. Sanctuary Wealth Management L.L.C. purchased a new position in shares of Alphabet in the fourth quarter worth about $34,000. Turim 21 Investimentos Ltda. purchased a new position in shares of Alphabet in the third quarter worth about $38,000. Meritage Group LP increased its position in Alphabet by 1,061.5% during the third 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 increased its position in Alphabet by 165.8% during the third 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. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 2,400,191 shares in the company, valued at approximately $341,163,148.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 2,400,191 shares in the company, valued at approximately $341,163,148.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total transaction of $105,566.78. Following the sale, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at approximately $4,532,870.36. The disclosure for this sale can be found here. Insiders sold 250,539 shares of company stock worth $35,906,259 over the last 90 days. 0.88% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on GOOGL shares. Wolfe Research raised their price objective on shares of Alphabet from $170.00 to $180.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Mizuho raised their price objective on shares of Alphabet from $155.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Redburn Atlantic raised their price objective on shares of Alphabet from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Needham & Company LLC restated a “buy” rating and set a $160.00 price objective on shares of Alphabet in a research report on Wednesday, January 31st. Finally, JMP Securities restated a “market outperform” rating and set a $160.00 price objective on shares of Alphabet in a research report 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. Based on data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $155.61.

Alphabet Stock Down 1.1 %

Shares of Alphabet stock opened at $157.73 on Friday. Alphabet Inc. has a 52-week low of $102.63 and a 52-week high of $160.22. The company has a 50 day moving average of $145.33 and a 200 day moving average of $139.72. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $1.96 trillion, a P/E ratio of 27.19, a P/E/G ratio of 1.44 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The company had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $70.77 billion. During the same quarter in the previous year, the firm earned $1.05 earnings per share. As a group, research analysts forecast that Alphabet Inc. will post 6.78 EPS for the current fiscal year.

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.