Wealthsource Partners LLC Grows Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Wealthsource Partners LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 2,272.8% during the third quarter, HoldingsChannel.com reports. The fund owned 26,528 shares of the information services provider’s stock after buying an additional 25,410 shares during the quarter. Wealthsource Partners LLC’s holdings in Alphabet were worth $2,537,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bornite Capital Management LP bought a new position in shares of Alphabet in the 1st quarter worth $16,688,000. Markel Corp lifted its position in shares of Alphabet by 17.0% during the first quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock valued at $43,110,000 after buying an additional 2,250 shares during the last quarter. United Bank boosted its holdings in shares of Alphabet by 5.9% in the 1st quarter. United Bank now owns 2,033 shares of the information services provider’s stock valued at $5,654,000 after buying an additional 113 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Alphabet by 23.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock worth $900,929,000 after buying an additional 61,427 shares during the last quarter. Finally, Dakota Wealth Management raised its stake in shares of Alphabet by 20.4% during the 1st quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock worth $25,806,000 after acquiring an additional 1,570 shares in the last quarter. Institutional investors own 34.06% of the company’s stock.

Alphabet Trading Up 3.1 %

GOOGL opened at $93.97 on Wednesday. Alphabet Inc. has a 52 week low of $83.34 and a 52 week 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 business has a fifty day simple moving average of $94.35 and a 200-day simple moving average of $96.30. The firm has a market cap of $1.20 trillion, a P/E ratio of 20.65, a P/E/G ratio of 1.25 and a beta of 1.09.

Alphabet (NASDAQ:GOOGL – Get Rating) last announced 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). The firm had revenue of $76.05 billion for the quarter, compared to analysts’ expectations 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 business earned $1.53 earnings per share. On average, equities analysts expect that Alphabet Inc. will post 5.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GOOGL. MKM Partners lifted their price target on shares of Alphabet from $120.00 to $126.00 in a report on Friday, February 3rd. KeyCorp reduced their target price on Alphabet from $118.00 to $117.00 and set an “overweight” rating on the stock in a research report on Monday, January 30th. Bank of America increased their price target on Alphabet from $116.00 to $119.00 and gave the company a “buy” rating in a research note on Tuesday, January 31st. Morgan Stanley boosted their price target on Alphabet from $125.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, February 3rd. Finally, Loop Capital increased their price objective on shares of Alphabet from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, February 8th. 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 company’s stock. Based on data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.32.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 855 shares of the company’s stock in a transaction on Wednesday, January 4th. The stock was sold at an average price of $91.15, for a total transaction of $77,933.25. Following the sale, the chief accounting officer now owns 25,122 shares of the company’s stock, valued at $2,289,870.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Prabhakar Raghavan sold 22,203 shares of Alphabet 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 completion of the transaction, the senior vice president now owns 76,579 shares in the company, valued at $6,872,965.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 855 shares of the business’s stock in a transaction that occurred on Wednesday, January 4th. The stock was sold at an average price of $91.15, for a total transaction 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 36,745 shares of company stock worth $3,424,078. 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.