Alphabet Inc. (NASDAQ:GOOGL) Stock Position Lifted by Incline Global Management LLC

Incline Global Management LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1,868.5% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 28,228 shares of the information services provider’s stock after purchasing an additional 26,794 shares during the period. Alphabet comprises approximately 0.8% of Incline Global Management LLC’s holdings, making the stock its 19th largest position. Incline Global Management LLC’s holdings in Alphabet were worth $2,700,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GOOGL. Bank of America boosted their price objective on shares of Alphabet from $116.00 to $119.00 and gave the stock a “buy” rating in a research note on Tuesday, January 31st. Credit Suisse Group reduced their price objective on shares of Alphabet from $145.00 to $136.00 and set an “outperform” rating for the company in a research note on Friday, February 3rd. Roth Capital restated a “buy” rating on shares of Alphabet in a research note on Friday, February 3rd. Truist Financial reduced their price objective on shares of Alphabet from $130.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, February 3rd. Finally, Mizuho cut their target price on shares of Alphabet from $140.00 to $135.00 and set a “buy” rating for the company in a research note on Wednesday, November 30th. Five analysts have rated the stock with a hold rating, thirty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $132.32.

Alphabet Stock Up 0.4 %

Shares of NASDAQ:GOOGL opened at $94.25 on Thursday. Alphabet Inc. has a 12 month low of $83.34 and a 12 month high of $143.79. The company’s 50-day moving average price is $94.07 and its two-hundred day moving average price is $97.03. The company has a quick ratio of 2.34, a current ratio of 2.38 and a debt-to-equity ratio of 0.06. The firm has a market cap of $1.21 trillion, a P/E ratio of 20.71, a P/E/G ratio of 1.31 and a beta of 1.09.

Alphabet (NASDAQ:GOOGL – Get Rating) last issued its quarterly earnings data on Thursday, February 2nd. The information services provider reported $1.05 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $63.15 billion. During the same period in the prior year, the company earned $1.53 EPS. As a group, research analysts forecast that Alphabet Inc. will post 5.12 EPS for the current fiscal year.

Insider Activity

In other news, Director Ann Mather sold 380 shares of the firm’s stock in a transaction dated Tuesday, December 27th. The shares were sold at an average price of $89.24, for a total value of $33,911.20. Following the transaction, the director now owns 11,300 shares of the company’s stock, valued at approximately $1,008,412. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Amie Thuener O’toole sold 855 shares of the firm’s stock in a transaction dated Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total value of $77,933.25. Following the transaction, the chief accounting officer now owns 25,122 shares of the company’s stock, valued at approximately $2,289,870.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ann Mather sold 380 shares of the firm’s stock in a transaction dated Tuesday, December 27th. The shares were 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 directly owns 11,300 shares in the company, valued at approximately $1,008,412. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,745 shares of company stock valued at $3,424,078. 11.44% of the stock is currently owned by insiders.

About Alphabet

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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.