Lafayette Investments Inc. Grows Holdings in Alphabet Inc. (NASDAQ:GOOG)

Lafayette Investments Inc. increased its position in shares of Alphabet Inc. (NASDAQ:GOOGGet Rating) by 2,011.7% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 48,569 shares of the information services provider’s stock after buying an additional 46,269 shares during the period. Alphabet makes up about 1.4% of Lafayette Investments Inc.’s investment portfolio, making the stock its 24th biggest position. Lafayette Investments Inc.’s holdings in Alphabet were worth $4,670,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. DC Investments Management LLC bought a new stake in shares of Alphabet in the 1st quarter worth about $115,000. Guardian Wealth Management Inc. bought a new stake in shares of Alphabet in the 1st quarter worth about $184,000. Turim 21 Investimentos Ltda. increased its position in shares of Alphabet by 10.8% in the 1st quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock worth $229,000 after purchasing an additional 8 shares during the last quarter. OneAscent Financial Services LLC bought a new stake in shares of Alphabet in the 2nd quarter worth about $203,000. Finally, Aspireon Wealth Advisors bought a new stake in shares of Alphabet in the 2nd quarter worth about $212,000. Hedge funds and other institutional investors own 28.69% of the company’s stock.

Alphabet Trading Up 5.7 %

Shares of GOOG stock opened at $99.28 on Monday. Alphabet Inc. has a 52-week low of $83.45 and a 52-week high of $152.10. The stock has a market cap of $1.28 trillion, a price-to-earnings ratio of 19.72, a P/E/G ratio of 1.74 and a beta of 1.08. 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 fifty day moving average of $93.52 and a 200-day moving average of $102.16.

Alphabet (NASDAQ:GOOGGet 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 analysts’ consensus estimates of $1.25 by ($0.19). Alphabet had a return on equity of 26.41% and a net margin of 23.75%. The firm had revenue of $69.09 billion for the quarter, compared to analyst estimates of $70.67 billion. During the same quarter last year, the business earned $1.40 EPS. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, equities research analysts forecast that Alphabet Inc. will post 4.68 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on GOOG shares. Cowen lowered their price objective on shares of Alphabet from $135.00 to $125.00 and set an “outperform” rating for the company in a research report on Wednesday, January 11th. Sanford C. Bernstein set a $120.00 price objective on shares of Alphabet in a research report on Thursday, January 12th. Cowen lowered their price objective on shares of Alphabet from $150.00 to $135.00 and set an “outperform” rating for the company in a research report on Wednesday, October 26th. Oppenheimer reduced their target price on shares of Alphabet from $155.00 to $135.00 and set an “outperform” rating for the company in a research note on Wednesday, October 26th. Finally, Jefferies Financial Group set a $125.00 target price on shares of Alphabet in a research note on Monday, January 9th. One analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $140.56.

Insider Activity

In other news, major shareholder 2021 Gp L.L.C. Gv acquired 182,312 shares of Alphabet stock in a transaction that occurred 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 purchase, the insider now directly owns 1,294,527 shares of the company’s stock, valued at $44,790,634.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of Alphabet stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $38.64, for a total value of $4,149,665.52. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder 2021 Gp L.L.C. Gv bought 182,312 shares of the stock in a transaction that occurred on Wednesday, November 9th. The shares were purchased at an average price of $34.60 per share, for a total transaction of $6,307,995.20. Following the completion of the acquisition, the insider now owns 1,294,527 shares of the company’s stock, valued at approximately $44,790,634.20. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 661,702 shares of company stock valued at $23,399,217 and have sold 190,744 shares valued at $8,564,640. Insiders own 12.99% of the company’s stock.

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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