Seascape Capital Management Boosts Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Seascape Capital Management grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 33,190 shares of the information services provider’s stock after buying an additional 464 shares during the quarter. Alphabet accounts for 2.0% of Seascape Capital Management’s holdings, making the stock its 10th biggest position. Seascape Capital Management’s holdings in Alphabet were worth $4,636,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the company. DC Investments Management LLC purchased a new stake in shares of Alphabet during the 1st quarter worth approximately $114,000. Bridgefront Capital LLC purchased a new stake in shares of Alphabet during the 1st quarter worth approximately $225,000. Worth Asset Management LLC purchased a new stake in shares of Alphabet during the 1st quarter worth approximately $206,000. Eudaimonia Advisors LLC increased its stake in shares of Alphabet by 15.1% during the 1st quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock worth $275,000 after purchasing an additional 13 shares during the last quarter. Finally, Aspire Capital Advisors LLC purchased a new stake in shares of Alphabet during the 1st quarter worth approximately $281,000. Institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GOOGL. Citigroup restated a “buy” rating and set a $168.00 price target on shares of Alphabet in a research note on Wednesday, April 10th. Needham & Company LLC reiterated a “buy” rating and issued a $160.00 price objective on shares of Alphabet in a research note on Wednesday, January 31st. Mizuho lifted their price objective on shares of Alphabet from $155.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Truist Financial lifted their price objective on shares of Alphabet from $158.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, KeyCorp lifted their price objective on shares of Alphabet from $153.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, January 29th. Five analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $158.41.

Insider Buying and Selling at Alphabet

In related news, SVP Prabhakar Raghavan sold 3,258 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the transaction, the senior vice president now owns 144,685 shares in the company, valued at $22,566,519.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the transaction, the chief executive officer now owns 2,377,691 shares in the company, valued at $347,832,416.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Prabhakar Raghavan sold 3,258 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $155.97, for a total transaction 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. Over the last quarter, insiders have sold 251,339 shares of company stock worth $36,377,482. 0.88% of the stock is currently owned by company insiders.

Alphabet Stock Performance

Alphabet stock opened at $154.09 on Friday. 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 $1.92 trillion, a PE ratio of 26.57, a P/E/G ratio of 1.44 and a beta of 1.05. The firm has a fifty day simple moving average of $146.26 and a two-hundred day simple moving average of $140.60. Alphabet Inc. has a twelve month low of $102.63 and a twelve month high of $160.22.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.04. The business had revenue of $86.31 billion during the quarter, compared to the consensus estimate 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 posted $1.05 earnings per share. Research analysts expect that Alphabet Inc. will post 6.78 EPS for the current 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.