LB Partners LLC Makes New $2.65 Million Investment in Alphabet Inc. (NASDAQ:GOOGL)

LB Partners LLC purchased a new position in Alphabet Inc. (NASDAQ:GOOGL) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 19,000 shares of the information services provider’s stock, valued at approximately $2,654,000. Alphabet accounts for approximately 2.9% of LB Partners LLC’s investment portfolio, making the stock its 13th biggest position.

A number of other large investors have also bought and sold shares of GOOGL. Live Oak Investment Partners purchased a new position in Alphabet during the fourth quarter worth about $26,000. Sanctuary Wealth Management L.L.C. purchased a new position in Alphabet during the fourth quarter worth about $34,000. Turim 21 Investimentos Ltda. purchased a new position in Alphabet in the third quarter valued at about $38,000. Meritage Group LP boosted its stake in 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 acquiring an additional 276 shares during the last quarter. Finally, Macroview Investment Management LLC boosted its stake in 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 acquiring an additional 199 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $159.56, for a total transaction of $127,648.00. Following the completion of the transaction, the director now directly owns 7,991 shares of the company’s stock, valued at approximately $1,275,043.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the sale, the director now owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction on Friday, April 12th. The shares were sold at an average price of $159.56, for a total transaction of $127,648.00. Following the completion of the sale, the director now directly owns 7,991 shares in the company, valued at approximately $1,275,043.96. The disclosure for this sale can be found here. Insiders sold a total of 251,339 shares of company stock valued at $36,377,482 in the last three months. 0.88% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Susquehanna boosted their target price on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Truist Financial boosted their target price on shares of Alphabet from $158.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday. Wells Fargo & Company dropped their target price on shares of Alphabet from $144.00 to $141.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 3rd. StockNews.com upgraded shares of Alphabet from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 20th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $160.00 target price on shares of Alphabet in a research note on Wednesday, January 31st. Five equities 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. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $157.00.

Alphabet Stock Up 0.7 %

Shares of Alphabet stock opened at $155.47 on Thursday. Alphabet Inc. has a 1 year low of $102.63 and a 1 year high of $160.22. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. The stock has a market cap of $1.93 trillion, a price-to-earnings ratio of 26.81, a PEG ratio of 1.43 and a beta of 1.05. The firm’s 50-day moving average is $145.95 and its two-hundred day moving average is $140.29.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. The firm had revenue of $86.31 billion during the quarter, compared to analyst estimates 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 previous year, the firm earned $1.05 EPS. As a group, research analysts expect that Alphabet Inc. will post 6.78 earnings per share for the current fiscal year.

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.