Allred Capital Management LLC Buys 14,281 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Allred Capital Management LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 1,840.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 15,057 shares of the information services provider’s stock after buying an additional 14,281 shares during the period. Alphabet makes up approximately 0.9% of Allred Capital Management LLC’s holdings, making the stock its 25th biggest holding. Allred Capital Management LLC’s holdings in Alphabet were worth $1,440,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of GOOGL. IAG Wealth Partners LLC grew its position in Alphabet by 3,275.0% in the 3rd quarter. IAG Wealth Partners LLC now owns 270 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 262 shares during the last quarter. Artemis Wealth Advisors LLC lifted its holdings in shares of Alphabet by 1,900.0% in the 3rd quarter. Artemis Wealth Advisors LLC now owns 280 shares of the information services provider’s stock worth $27,000 after buying an additional 266 shares during the period. Horizons Wealth Management purchased a new stake in shares of Alphabet in the 2nd quarter worth $33,000. Schubert & Co lifted its holdings in shares of Alphabet by 1,200.0% in the 3rd quarter. Schubert & Co now owns 364 shares of the information services provider’s stock worth $35,000 after buying an additional 336 shares during the period. Finally, Carolina Wealth Advisors LLC lifted its holdings in shares of Alphabet by 1,900.0% in the 3rd quarter. Carolina Wealth Advisors LLC now owns 400 shares of the information services provider’s stock worth $38,000 after buying an additional 380 shares during the period. Institutional investors own 34.06% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on GOOGL. Tigress Financial lowered their target price on Alphabet from $186.00 to $160.00 and set a “strong-buy” rating for the company in a report on Friday, January 6th. Atlantic Securities lowered their target price on Alphabet to $115.00 in a report on Thursday, October 27th. Citigroup lowered their target price on Alphabet from $140.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, October 26th. KeyCorp lowered their target price on Alphabet from $125.00 to $120.00 and set an “overweight” rating for the company in a report on Tuesday, October 25th. Finally, Mizuho decreased their price objective on Alphabet from $140.00 to $135.00 and set a “buy” rating for the company in a research note on Wednesday, November 30th. Five 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 company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $132.13.

Alphabet Stock Up 5.3 %

Shares of GOOGL stock opened at $98.02 on Monday. The stock’s 50-day simple moving average is $93.03 and its 200-day simple moving average is $101.55. 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 has a market capitalization of $1.27 trillion, a PE ratio of 19.47, a P/E/G ratio of 1.72 and a beta of 1.09. Alphabet Inc. has a fifty-two week low of $83.34 and a fifty-two week high of $151.55.

Alphabet (NASDAQ:GOOGLGet Rating) last posted its earnings results on Tuesday, October 25th. The information services provider reported $1.06 EPS for the quarter, missing the consensus estimate of $1.25 by ($0.19). The company had revenue of $57.27 billion for the quarter, compared to analyst estimates of $58.36 billion. Alphabet had a return on equity of 26.41% and a net margin of 23.75%. During the same period last year, the business earned $1.40 earnings per share. Equities analysts expect that Alphabet Inc. will post 4.68 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 855 shares of the firm’s stock in a transaction dated Wednesday, January 4th. The stock was sold at an average price of $91.15, for a total transaction of $77,933.25. Following the sale, the chief accounting officer now directly owns 25,122 shares of the company’s stock, valued at $2,289,870.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, major shareholder 2021 Gp L.L.C. Gv bought 182,312 shares of the company’s stock in a transaction that occurred on Wednesday, November 9th. The shares were purchased at an average cost of $34.60 per share, with a total value of $6,307,995.20. Following the completion of the acquisition, the insider now directly owns 1,294,527 shares in the company, valued at $44,790,634.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 855 shares of the stock in a transaction that occurred on Wednesday, January 4th. The stock was sold at an average price of $91.15, for a total value of $77,933.25. Following the transaction, the chief accounting officer now owns 25,122 shares in the company, valued at approximately $2,289,870.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 661,702 shares of company stock valued at $23,399,217 and have sold 190,744 shares valued at $8,564,640. 11.44% of the stock is owned by corporate insiders.

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.

See Also

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGLGet Rating).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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