Wealthspan Partners LLC Has $249,000 Position in Alphabet Inc. (NASDAQ:GOOGL)

Wealthspan Partners LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1,981.6% in the third quarter, HoldingsChannel reports. The institutional investor owned 2,602 shares of the information services provider’s stock after purchasing an additional 2,477 shares during the period. Wealthspan Partners LLC’s holdings in Alphabet were worth $249,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Massachusetts Financial Services Co. MA lifted its stake in shares of Alphabet by 1,955.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 61,134,061 shares of the information services provider’s stock valued at $5,847,474,000 after purchasing an additional 58,159,150 shares during the last quarter. Fisher Asset Management LLC lifted its stake in shares of Alphabet by 1,928.6% in the 3rd 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 during the last quarter. Nuveen Asset Management LLC lifted its stake in shares of Alphabet by 1,731.5% in the 3rd quarter. Nuveen Asset Management LLC now owns 33,615,585 shares of the information services provider’s stock valued at $3,215,331,000 after purchasing an additional 31,780,148 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of Alphabet by 1,690.3% in the 3rd quarter. Jennison Associates LLC now owns 26,231,920 shares of the information services provider’s stock valued at $2,509,083,000 after purchasing an additional 24,766,730 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Alphabet by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 23,304,411 shares of the information services provider’s stock valued at $64,817,723,000 after purchasing an additional 331,945 shares during the last quarter. Institutional investors and hedge funds own 34.06% of the company’s stock.

Alphabet Price Performance

NASDAQ:GOOGL opened at $90.63 on Friday. The firm has a market cap of $1.16 trillion, a PE ratio of 19.91, a price-to-earnings-growth ratio of 1.27 and a beta of 1.09. Alphabet Inc. has a 12 month low of $83.34 and a 12 month high of $143.79. 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 company’s 50-day moving average price is $94.19 and its two-hundred day moving average price is $96.71.

Alphabet (NASDAQ:GOOGL – Get Rating) last released its quarterly earnings results 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). 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 quarter last year, the firm earned $1.53 earnings per share. On average, equities analysts anticipate that Alphabet Inc. will post 5.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on GOOGL. Wells Fargo & Company lifted their price objective on shares of Alphabet from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, February 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $115.00 target price on shares of Alphabet in a report on Wednesday. Loop Capital lifted their target price on shares of Alphabet from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, February 8th. Roth Capital reiterated a “buy” rating on shares of Alphabet in a report on Friday, February 3rd. Finally, KeyCorp dropped their target price on shares of Alphabet from $118.00 to $117.00 and set an “overweight” rating on the stock in a report on Monday, January 30th. Five 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 company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $132.32.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 637 shares of the company’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $90.15, for a total transaction of $57,425.55. Following the transaction, the chief accounting officer now directly owns 25,442 shares in the company, valued at $2,293,596.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Amie Thuener O’toole sold 637 shares of the company’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $90.15, for a total transaction of $57,425.55. Following the transaction, the chief accounting officer now directly owns 25,442 shares in the company, valued at $2,293,596.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Kent Walker sold 11,313 shares of the company’s stock in a transaction that occurred on Monday, January 23rd. The stock was sold at an average price of $100.00, for a total transaction of $1,131,300.00. Following the transaction, the insider now owns 41,970 shares in the company, valued at $4,197,000. The disclosure for this sale can be found here. Insiders have sold a total of 36,745 shares of company stock worth $3,424,078 over the last ninety days. Corporate insiders own 11.44% of the company’s stock.

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.