Ocean Capital Management LLC Has $20.02 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Ocean Capital Management LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1,921.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 208,169 shares of the information services provider’s stock after acquiring an additional 197,871 shares during the period. Alphabet comprises approximately 11.0% of Ocean Capital Management LLC’s holdings, making the stock its 4th largest position. Ocean Capital Management LLC’s holdings in Alphabet were worth $20,017,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of GOOGL. Bornite Capital Management LP bought a new stake in shares of Alphabet during the 1st quarter valued at $16,688,000. Markel Corp boosted its holdings in Alphabet by 17.0% in the 1st quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock worth $43,110,000 after buying an additional 2,250 shares during the period. United Bank boosted its holdings in Alphabet by 5.9% in the 1st quarter. United Bank now owns 2,033 shares of the information services provider’s stock worth $5,654,000 after buying an additional 113 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Alphabet by 23.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock worth $900,929,000 after buying an additional 61,427 shares during the period. Finally, Dakota Wealth Management boosted its holdings in Alphabet by 20.4% in the 1st quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock worth $25,806,000 after buying an additional 1,570 shares during the period. Institutional investors own 34.06% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Wells Fargo & Company dropped their target price on shares of Alphabet from $160.00 to $145.00 and set an “overweight” rating for the company in a report on Wednesday, October 26th. Bank of America dropped their target price on shares of Alphabet from $125.00 to $114.00 and set a “buy” rating for the company in a report on Tuesday, October 4th. Credit Suisse Group decreased their price target on shares of Alphabet from $134.00 to $128.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 26th. JMP Securities decreased their price target on shares of Alphabet from $145.00 to $132.00 in a research note on Wednesday, November 23rd. Finally, Truist Financial decreased their price target on shares of Alphabet from $136.00 to $130.00 and set a “buy” rating on the stock in a research note on Wednesday, October 26th. Five research analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $132.00.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Ann Mather sold 280 shares of the firm’s stock in a transaction that occurred on Tuesday, October 25th. The shares were sold at an average price of $103.23, for a total value of $28,904.40. Following the completion of the sale, the director now directly owns 11,200 shares in the company, valued at $1,156,176. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 855 shares of the firm’s stock in a transaction that occurred on Wednesday, November 2nd. The shares were sold at an average price of $90.85, for a total value of $77,676.75. Following the completion of the sale, the chief accounting officer now directly owns 24,694 shares in the company, valued at $2,243,449.90. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ann Mather sold 280 shares of the firm’s stock in a transaction that occurred on Tuesday, October 25th. The shares were sold at an average price of $103.23, for a total transaction of $28,904.40. Following the completion of the sale, the director now owns 11,200 shares of the company’s stock, valued at $1,156,176. The disclosure for this sale can be found here. Over the last three months, insiders bought 1,461,702 shares of company stock worth $36,999,217 and sold 190,744 shares worth $8,564,640. 11.44% of the stock is owned by insiders.

Alphabet Price Performance

NASDAQ GOOGL opened at $92.12 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.47 and a current ratio of 2.52. The firm’s 50 day moving average price is $92.82 and its 200-day moving average price is $102.19. Alphabet Inc. has a 52-week low of $83.34 and a 52-week high of $151.55. The company has a market cap of $1.19 trillion, a PE ratio of 18.29, a P/E/G ratio of 1.60 and a beta of 1.09.

Alphabet (NASDAQ:GOOGL – Get Rating) last released its quarterly earnings data on Tuesday, October 25th. The information services provider reported $1.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.19). Alphabet had a net margin of 23.75% and a return on equity of 26.41%. The business had revenue of $57.27 billion for the quarter, compared to the consensus estimate of $58.36 billion. During the same quarter in the prior year, the business posted $1.40 earnings per share. Sell-side analysts forecast that Alphabet Inc. will post 4.68 EPS for the current fiscal year.

About Alphabet

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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.