Laffer Tengler Investments Buys 12,530 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Laffer Tengler Investments raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 2,290.7% during the third quarter, HoldingsChannel reports. The fund owned 13,077 shares of the information services provider’s stock after purchasing an additional 12,530 shares during the quarter. Laffer Tengler Investments’ holdings in Alphabet were worth $1,251,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Spreng Capital Management Inc. boosted its position in Alphabet by 4.0% during the first quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock valued at $364,000 after buying an additional 5 shares during the period. West Family Investments Inc. boosted its position in Alphabet by 0.3% during the first quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock valued at $4,878,000 after buying an additional 6 shares during the period. Maple Capital Management Inc. boosted its position in Alphabet by 2.1% during the first quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock valued at $823,000 after buying an additional 6 shares during the period. Private Advisory Group LLC boosted its position in Alphabet by 1.8% during the first quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock valued at $1,115,000 after buying an additional 7 shares during the period. Finally, Weik Capital Management boosted its position in Alphabet by 0.5% during the first quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock valued at $4,264,000 after buying an additional 8 shares during the period. Institutional investors own 34.06% of the company’s stock.

Alphabet Trading Up 1.8 %

Shares of GOOGL stock opened at $93.65 on Friday. 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 firm’s 50 day moving average is $93.66 and its 200 day moving average is $97.54. The stock has a market capitalization of $1.20 trillion, a P/E ratio of 20.58, a P/E/G ratio of 1.27 and a beta of 1.09.

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 the consensus estimate of $1.14 by ($0.09). Alphabet had a return on equity of 23.54% and a net margin of 21.20%. The company had revenue of $76.05 billion during the quarter, compared to analysts’ expectations of $63.15 billion. During the same quarter in the prior year, the business posted $1.53 EPS. Research analysts expect that Alphabet Inc. will post 5.12 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Ann Mather sold 380 shares of the firm’s stock in a transaction that occurred on Tuesday, December 27th. The shares were sold at an average price of $89.24, for a total value of $33,911.20. Following the sale, the director now owns 11,300 shares in the company, valued at $1,008,412. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 22,203 shares of the stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $89.75, for a total value of $1,992,719.25. Following the transaction, the senior vice president now directly owns 76,579 shares in the company, valued at $6,872,965.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ann Mather sold 380 shares of the stock in a transaction that occurred on Tuesday, December 27th. The stock was sold at an average price of $89.24, for a total transaction of $33,911.20. Following the completion of the transaction, the director now owns 11,300 shares in the company, valued at $1,008,412. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,745 shares of company stock worth $3,424,078. 11.44% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have issued reports on the stock. New Street Research assumed coverage on shares of Alphabet in a research report on Wednesday, January 4th. They set a “buy” rating and a $118.00 price target for the company. Loop Capital upped their price objective 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. Jefferies Financial Group reaffirmed a “buy” rating and set a $130.00 price objective on shares of Alphabet in a research note on Friday, February 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $115.00 price objective on shares of Alphabet in a research note on Friday, February 3rd. Finally, Bank of America upped their price objective on shares of Alphabet from $116.00 to $119.00 and gave the company a “buy” rating in a research note on Tuesday, January 31st. Five research analysts have rated the stock with a hold rating, thirty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $132.32.

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.