Alphabet Inc. (NASDAQ:GOOGL) Major Shareholder 2021 Gp L.L.C. Gv Purchases 415,000 Shares

Alphabet Inc. (NASDAQ:GOOGL – Get Rating) major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of Alphabet stock in a transaction that occurred on Monday, March 13th. The stock was acquired at an average cost of $29.29 per share, with a total value of $12,155,350.00. Following the completion of the purchase, the insider now owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $100.32 on Friday. 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 firm has a market capitalization of $1.28 trillion, a PE ratio of 22.04, a PEG ratio of 1.26 and a beta of 1.09. Alphabet Inc. has a 1-year low of $83.34 and a 1-year high of $143.79. The business’s 50 day moving average is $94.79 and its 200-day moving average is $96.32.

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

Hedge Funds Weigh In On Alphabet

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Spreng Capital Management Inc. lifted its position 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 worth $364,000 after buying an additional 5 shares during the period. Maple Capital Management Inc. raised its position in Alphabet by 2.1% in the 1st quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock valued at $823,000 after purchasing an additional 6 shares during the last quarter. West Family Investments Inc. raised its position in Alphabet by 0.3% in the 1st quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock valued at $4,878,000 after purchasing an additional 6 shares during the last quarter. Private Advisory Group LLC raised its position in Alphabet by 1.8% in the 1st quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock valued at $1,115,000 after purchasing an additional 7 shares during the last quarter. Finally, Weik Capital Management raised its position in Alphabet by 0.5% in the 1st quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock valued at $4,264,000 after purchasing an additional 8 shares during the last quarter. Institutional investors own 34.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GOOGL. Morgan Stanley raised 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. Jefferies Financial Group reaffirmed a “buy” rating and set a $130.00 price target on shares of Alphabet in a research note on Friday, February 10th. Mizuho cut their price target on Alphabet from $140.00 to $135.00 and set a “buy” rating for the company in a research note on Wednesday, November 30th. Tigress Financial cut their price target on Alphabet from $186.00 to $160.00 and set a “strong-buy” rating for the company in a research note on Friday, January 6th. Finally, Credit Suisse Group lowered their price objective on Alphabet from $145.00 to $136.00 and set an “outperform” rating on the stock in a report 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 company. 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.