Horizon Wealth Management LLC Buys 61,581 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Horizon Wealth Management LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 35,189.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,756 shares of the information services provider’s stock after acquiring an additional 61,581 shares during the period. Alphabet comprises about 4.3% of Horizon Wealth Management LLC’s portfolio, making the stock its 8th largest position. Horizon Wealth Management LLC’s holdings in Alphabet were worth $5,907,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in GOOGL. Spreng Capital Management Inc. boosted its holdings in shares of Alphabet by 4.0% during the 1st quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock valued at $364,000 after acquiring an additional 5 shares in the last quarter. West Family Investments Inc. increased its holdings in Alphabet by 0.3% in the first quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock worth $4,878,000 after purchasing an additional 6 shares in the last quarter. Maple Capital Management Inc. lifted its stake in Alphabet by 2.1% in the first quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock valued at $823,000 after buying an additional 6 shares during the period. Private Advisory Group LLC boosted its holdings in shares of Alphabet by 1.8% during the 1st quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock worth $1,115,000 after buying an additional 7 shares in the last quarter. Finally, Weik Capital Management boosted its holdings in shares of Alphabet by 0.5% during the 1st quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock worth $4,264,000 after buying an additional 8 shares in the last quarter. 34.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of Alphabet stock in a transaction dated Monday, March 13th. The stock was purchased at an average cost of $29.29 per share, for a total transaction of $12,155,350.00. Following the purchase, the insider now directly owns 1,709,527 shares of the company’s stock, valued at approximately $50,072,045.83. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the business’s stock in a transaction on Monday, March 13th. The stock was acquired at an average price of $29.29 per share, for a total transaction of $12,155,350.00. Following the purchase, the insider now owns 1,709,527 shares of the company’s stock, valued at approximately $50,072,045.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ann Mather sold 340 shares of the firm’s stock in a transaction dated Wednesday, January 25th. The shares were sold at an average price of $96.92, for a total value of $32,952.80. Following the transaction, the director now owns 11,300 shares of the company’s stock, valued at approximately $1,095,196. The disclosure for this sale can be found here. Insiders have sold 36,745 shares of company stock valued at $3,424,078 in the last ninety days. 11.44% of the stock is currently owned by company insiders.

Alphabet Price Performance

NASDAQ GOOGL opened at $96.11 on Thursday. The business’s fifty day moving average price is $94.51 and its 200-day moving average price is $96.29. The stock has a market capitalization of $1.23 trillion, a price-to-earnings ratio of 21.12, a PEG ratio of 1.25 and a beta of 1.09. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.38 and a quick ratio of 2.34. Alphabet Inc. has a 1-year low of $83.34 and a 1-year high of $143.79.

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on GOOGL shares. Tigress Financial cut their price target on Alphabet from $186.00 to $160.00 and set a “strong-buy” rating on the stock in a report on Friday, January 6th. Bank of America increased their price target on Alphabet from $116.00 to $119.00 and gave the stock a “buy” rating in a report on Tuesday, January 31st. Truist Financial cut their price target on Alphabet from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, February 3rd. Wells Fargo & Company increased their target price on Alphabet from $145.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday, February 3rd. Finally, StockNews.com assumed coverage on Alphabet in a report on Thursday. They issued a “hold” rating on the stock. 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 company. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average 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.