MayTech Global Investments LLC Increases Stake in Alphabet Inc. (NASDAQ:GOOGL)

MayTech Global Investments LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1,729.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 97,222 shares of the information services provider’s stock after acquiring an additional 91,909 shares during the period. Alphabet comprises about 3.4% of MayTech Global Investments LLC’s holdings, making the stock its 14th biggest position. MayTech Global Investments LLC’s holdings in Alphabet were worth $9,299,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Willow Creek Wealth Management Inc. raised its position in Alphabet by 1,926.9% during the 3rd quarter. Willow Creek Wealth Management Inc. now owns 18,546 shares of the information services provider’s stock worth $1,774,000 after buying an additional 17,631 shares during the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of Alphabet during the 3rd quarter worth approximately $55,305,000. Griffin Asset Management Inc. grew its stake in shares of Alphabet by 1,900.0% during the 3rd quarter. Griffin Asset Management Inc. now owns 52,240 shares of the information services provider’s stock worth $4,997,000 after purchasing an additional 49,628 shares during the period. Bridgewater Advisors Inc. grew its stake in shares of Alphabet by 3,005.0% during the 3rd quarter. Bridgewater Advisors Inc. now owns 67,503 shares of the information services provider’s stock worth $6,457,000 after purchasing an additional 65,329 shares during the period. Finally, Adell Harriman & Carpenter Inc. grew its stake in shares of Alphabet by 1,915.2% during the 3rd quarter. Adell Harriman & Carpenter Inc. now owns 129,797 shares of the information services provider’s stock worth $12,415,000 after purchasing an additional 123,356 shares during the period. 34.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 11,313 shares of Alphabet stock in a transaction dated Monday, January 23rd. The stock was sold at an average price of $100.00, for a total value of $1,131,300.00. Following the completion of the transaction, the insider now directly owns 41,970 shares of the company’s stock, valued at approximately $4,197,000. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CAO Amie Thuener O’toole sold 855 shares of the business’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 completion of the transaction, the chief accounting officer now directly owns 25,122 shares of the company’s stock, valued at $2,289,870.30. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider John Kent Walker sold 11,313 shares of the business’s stock in a transaction dated Monday, January 23rd. The stock was sold at an average price of $100.00, for a total value of $1,131,300.00. Following the transaction, the insider now directly owns 41,970 shares of the company’s stock, valued at $4,197,000. The disclosure for this sale can be found here. Insiders sold a total of 36,745 shares of company stock valued at $3,424,078 in the last three months. 11.44% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. New Street Research assumed coverage on shares of Alphabet in a research note on Wednesday, January 4th. They set a “buy” rating and a $118.00 price objective on the stock. Roth Capital reaffirmed a “buy” rating on shares of Alphabet in a research note on Friday, February 3rd. MKM Partners raised their price objective on shares of Alphabet from $120.00 to $126.00 in a research note on Friday, February 3rd. Loop Capital lifted their price target on shares of Alphabet from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, February 8th. Finally, Rosenblatt Securities dropped their price target on shares of Alphabet from $130.00 to $128.00 and set a “buy” rating on the stock in a research note on Friday, February 3rd. Five equities research analysts have rated the stock with a hold rating, thirty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.32.

Alphabet Stock Performance

NASDAQ GOOGL opened at $93.65 on Friday. The company has a market cap of $1.20 trillion, a P/E ratio of 20.58, a P/E/G ratio of 1.25 and a beta of 1.09. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.38 and a quick ratio of 2.34. The stock has a 50-day moving average of $93.66 and a two-hundred day moving average of $97.71. Alphabet Inc. has a 1-year low of $83.34 and a 1-year high of $143.79.

Alphabet (NASDAQ:GOOGL – Get Rating) last released its earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.09). The firm had revenue of $76.05 billion during the quarter, compared to analyst estimates of $63.15 billion. Alphabet had a net margin of 21.20% and a return on equity of 23.54%. During the same period in the prior year, the firm earned $1.53 earnings per share. As a group, analysts anticipate that Alphabet Inc. will post 5.12 EPS for the current year.

Alphabet Company 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.