Chartwell Investment Partners LLC Buys 45,537 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Chartwell Investment Partners LLC increased its stake in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 1,721.6% during the third quarter, Holdings Channel reports. The firm owned 48,182 shares of the information services provider’s stock after acquiring an additional 45,537 shares during the period. Chartwell Investment Partners LLC’s holdings in Alphabet were worth $4,609,000 at the end of the most recent reporting period.

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

Alphabet Stock Up 5.3 %

Shares of NASDAQ:GOOGL opened at $98.02 on Monday. The stock has a market cap of $1.27 trillion, a price-to-earnings ratio of 19.47, a PEG ratio of 1.72 and a beta of 1.09. The company has a quick ratio of 2.47, a current ratio of 2.52 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a 12-month low of $83.34 and a 12-month high of $151.55. The business’s 50 day moving average is $93.03 and its 200 day moving average is $101.55.

Alphabet (NASDAQ:GOOGLGet Rating) last announced its earnings results on Tuesday, October 25th. The information services provider reported $1.06 earnings per share (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 analysts’ expectations of $58.36 billion. Alphabet had a net margin of 23.75% and a return on equity of 26.41%. During the same period in the previous year, the firm earned $1.40 EPS. On average, sell-side analysts forecast that Alphabet Inc. will post 4.68 earnings per share for the current fiscal year.

Insider Activity at Alphabet

In related news, major shareholder 2021 Gp L.L.C. Gv bought 182,312 shares of the business’s stock in a transaction that occurred on Wednesday, November 9th. The shares were bought at an average price of $34.60 per share, with a total value of $6,307,995.20. Following the completion of the transaction, the insider now directly owns 1,294,527 shares in the company, valued at $44,790,634.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv acquired 182,312 shares of the business’s stock in a transaction on Wednesday, November 9th. The shares were acquired at an average price of $34.60 per share, with a total value of $6,307,995.20. Following the completion of the transaction, the insider now owns 1,294,527 shares in the company, valued at $44,790,634.20. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of the business’s stock in a transaction on Monday, October 31st. The stock was sold at an average price of $38.64, for a total value of $4,149,665.52. The disclosure for this sale can be found here. Over the last 90 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 insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Needham & Company LLC reduced their price objective on Alphabet from $160.00 to $115.00 and set a “buy” rating on the stock in a research note on Thursday, December 22nd. Citigroup cut their price target on Alphabet from $140.00 to $120.00 and set a “buy” rating on the stock in a research note on Wednesday, October 26th. StockNews.com began coverage on Alphabet in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. New Street Research began coverage on Alphabet in a research note on Wednesday, January 4th. They set a “buy” rating and a $118.00 price target on the stock. Finally, Rosenblatt Securities cut their price target on Alphabet from $156.00 to $130.00 and set a “buy” rating on the stock in a research note on Wednesday, October 26th. Five analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.13.

Alphabet Profile

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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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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