Sonen Capital LLC Increases Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Sonen Capital LLC lifted its position in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1,772.6% in the third quarter, HoldingsChannel reports. The firm owned 6,498 shares of the information services provider’s stock after buying an additional 6,151 shares during the period. Sonen Capital LLC’s holdings in Alphabet were worth $622,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of GOOGL. Massachusetts Financial Services Co. MA boosted its stake in Alphabet by 1,955.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 61,134,061 shares of the information services provider’s stock worth $5,847,474,000 after buying an additional 58,159,150 shares during the period. Fisher Asset Management LLC grew its holdings in shares of Alphabet by 1,928.6% in the third quarter. Fisher Asset Management LLC now owns 42,474,883 shares of the information services provider’s stock valued at $4,062,723,000 after purchasing an additional 40,381,114 shares in the last quarter. Jennison Associates LLC increased its stake in Alphabet by 1,690.3% during the 3rd quarter. Jennison Associates LLC now owns 26,231,920 shares of the information services provider’s stock worth $2,509,083,000 after buying an additional 24,766,730 shares during the period. Alecta Tjanstepension Omsesidigt lifted its holdings in Alphabet by 1,900.0% during the 3rd quarter. Alecta Tjanstepension Omsesidigt now owns 19,286,000 shares of the information services provider’s stock worth $1,845,092,000 after buying an additional 18,321,700 shares in the last quarter. Finally, Barclays PLC boosted its position in Alphabet by 2,462.1% in the 3rd quarter. Barclays PLC now owns 18,694,427 shares of the information services provider’s stock valued at $1,788,124,000 after buying an additional 17,964,785 shares during the period. Hedge funds and other institutional investors own 34.06% of the company’s stock.

Alphabet Trading Up 0.3 %

Shares of Alphabet stock opened at $90.36 on Thursday. Alphabet Inc. has a 12-month low of $83.34 and a 12-month high of $143.79. The company has a current ratio of 2.38, a quick ratio of 2.34 and a debt-to-equity ratio of 0.06. The stock has a market cap of $1.16 trillion, a PE ratio of 19.86, a price-to-earnings-growth ratio of 1.24 and a beta of 1.08. The company has a 50-day moving average of $93.48 and a two-hundred day moving average of $97.95.

Alphabet (NASDAQ:GOOGL – Get Rating) last issued its earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). Alphabet had a net margin of 21.20% and a return on equity of 23.54%. The company had revenue of $76.05 billion during the quarter, compared to analysts’ expectations of $63.15 billion. During the same period last year, the business posted $1.53 earnings per share. On average, research analysts anticipate that Alphabet Inc. will post 5.12 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GOOGL. Morgan Stanley upped their price objective on Alphabet from $125.00 to $135.00 and gave the stock an “overweight” rating in a research report on Friday, February 3rd. Loop Capital upped their price objective on Alphabet from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, February 8th. JMP Securities reaffirmed a “market outperform” rating and set a $132.00 price objective on shares of Alphabet in a research report on Friday, February 3rd. Jefferies Financial Group reaffirmed a “buy” rating and set a $130.00 price objective on shares of Alphabet in a research report on Friday, February 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $115.00 price objective on shares of Alphabet in a research report on Friday, February 3rd. Five analysts have rated the stock with a hold rating, thirty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $132.32.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 637 shares of the business’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $90.15, for a total value of $57,425.55. Following the completion of the transaction, the chief accounting officer now directly owns 25,442 shares of the company’s stock, valued at $2,293,596.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Ann Mather sold 380 shares of the stock in a transaction on Monday, February 27th. The stock was sold at an average price of $90.05, for a total transaction of $34,219.00. Following the sale, the director now owns 11,300 shares of the company’s stock, valued at $1,017,565. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 637 shares of the stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $90.15, for a total value of $57,425.55. Following the sale, the chief accounting officer now directly owns 25,442 shares in the company, valued at approximately $2,293,596.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,745 shares of company stock valued at $3,424,078. 11.44% of the stock is owned by corporate insiders.

Alphabet Profile

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.