Alphabet Inc. (NASDAQ:GOOGL) Shares Purchased by IMS Capital Management

IMS Capital Management boosted its stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 2,125.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,256 shares of the information services provider’s stock after buying an additional 8,840 shares during the quarter. IMS Capital Management’s holdings in Alphabet were worth $885,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Willow Creek Wealth Management Inc. raised its holdings in 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 valued at $1,774,000 after buying an additional 17,631 shares during the period. Louisiana State Employees Retirement System acquired a new stake in shares of Alphabet during the third quarter valued at about $55,305,000. Griffin Asset Management Inc. raised 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 valued at $4,997,000 after acquiring an additional 49,628 shares during the period. Bridgewater Advisors Inc. lifted its holdings 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 last quarter. Finally, Adell Harriman & Carpenter Inc. boosted its position in shares of Alphabet by 1,915.2% during the 3rd quarter. Adell Harriman & Carpenter Inc. now owns 129,797 shares of the information services provider’s stock worth $12,415,000 after purchasing an additional 123,356 shares during the period. 34.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider John Kent Walker sold 11,313 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 41,970 shares in the company, valued at approximately $4,197,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider John Kent Walker sold 11,313 shares of the company’s stock in a transaction 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 completion of the sale, the insider now directly owns 41,970 shares of the company’s stock, valued at $4,197,000. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the firm’s stock in a transaction that occurred on Monday, March 13th. The stock was bought at an average price of $29.29 per share, with a total value of $12,155,350.00. Following the transaction, the insider now directly owns 1,709,527 shares in the company, valued at $50,072,045.83. The disclosure for this purchase can be found here. Insiders have sold a total of 36,745 shares of company stock valued at $3,424,078 over the last three months. Company insiders own 11.44% of the company’s stock.

Alphabet Trading Up 2.3 %

NASDAQ:GOOGL opened at $96.11 on Thursday. The company has a market cap of $1.23 trillion, a PE ratio of 21.12, a P/E/G ratio of 1.25 and a beta of 1.09. The business’s 50 day moving average is $94.51 and its two-hundred day moving average is $96.29. 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.

Alphabet (NASDAQ:GOOGL – Get Rating) last announced its earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.09). The business had revenue of $76.05 billion for the quarter, compared to the consensus estimate of $63.15 billion. Alphabet had a net margin of 21.20% and a return on equity of 23.54%. During the same period in the previous year, the firm earned $1.53 EPS. On average, analysts predict that Alphabet Inc. will post 5.12 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on GOOGL shares. Evercore ISI decreased their price target on Alphabet from $130.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 21st. JMP Securities reissued a “market outperform” rating and set a $132.00 price target on shares of Alphabet in a research report on Friday, February 3rd. Credit Suisse Group decreased their target price on Alphabet from $145.00 to $136.00 and set an “outperform” rating for the company in a report on Friday, February 3rd. Bank of America boosted their target price on Alphabet from $116.00 to $119.00 and gave the company a “buy” rating in a report on Tuesday, January 31st. Finally, Loop Capital upped their price objective on shares of Alphabet from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, February 8th. Five equities research analysts have rated the stock with a hold rating, thirty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus 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.