NCM Capital Management LLC Raises Stake in Alphabet Inc. (NASDAQ:GOOGL)

NCM Capital Management LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 2,151.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 19,320 shares of the information services provider’s stock after purchasing an additional 18,462 shares during the period. Alphabet makes up 1.4% of NCM Capital Management LLC’s investment portfolio, making the stock its 13th largest holding. NCM Capital Management LLC’s holdings in Alphabet were worth $1,848,000 as of its most recent SEC filing.

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

Alphabet Trading Up 3.1 %

NASDAQ GOOGL opened at $93.97 on Wednesday. The company’s fifty day simple moving average is $94.35 and its 200-day simple moving average is $96.30. Alphabet Inc. has a 52 week low of $83.34 and a 52 week 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 $1.20 trillion, a P/E ratio of 20.65, a PEG ratio of 1.25 and a beta of 1.09.

Alphabet (NASDAQ:GOOGLGet Rating) last posted its 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). Alphabet had a return on equity of 23.54% and a net margin of 21.20%. The firm had revenue of $76.05 billion for the quarter, compared to analyst estimates of $63.15 billion. During the same period in the previous year, the firm posted $1.53 earnings per share. Equities research analysts predict that Alphabet Inc. will post 5.12 EPS for the current fiscal year.

Insider Transactions at Alphabet

In related news, insider John Kent Walker sold 11,313 shares of the company’s stock in a transaction on Monday, January 23rd. The shares were sold at an average price of $100.00, for a total value of $1,131,300.00. Following the sale, the insider now directly owns 41,970 shares of the company’s stock, valued at $4,197,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO Amie Thuener O’toole sold 637 shares of the company’s 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 of the company’s stock, valued at $2,293,596.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Kent Walker sold 11,313 shares of the company’s stock in a transaction on Monday, January 23rd. The shares were sold at an average price of $100.00, for a total transaction of $1,131,300.00. Following the completion of the sale, the insider now directly owns 41,970 shares in the company, valued at $4,197,000. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,745 shares of company stock valued at $3,424,078. Corporate insiders own 11.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on GOOGL shares. 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. Needham & Company LLC reiterated a “buy” rating and issued a $115.00 price objective on shares of Alphabet in a research note on Wednesday, March 8th. Tigress Financial reduced their price objective on shares of Alphabet from $186.00 to $160.00 and set a “strong-buy” rating for the company in a research note on Friday, January 6th. Mizuho reduced their price objective 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. Finally, Roth Capital reiterated a “buy” rating on shares of Alphabet in a research note on Friday, February 3rd. Five analysts have rated the stock with a hold rating, thirty-three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $132.32.

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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