Alphabet Inc. (NASDAQ:GOOGL) Stake Lifted by Smith Chas P & Associates PA Cpas

Smith Chas P & Associates PA Cpas raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1,980.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 8,760 shares of the information services provider’s stock after purchasing an additional 8,339 shares during the quarter. Smith Chas P & Associates PA Cpas’ holdings in Alphabet were worth $838,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. IAG Wealth Partners LLC boosted its holdings in Alphabet by 3,275.0% during the third quarter. IAG Wealth Partners LLC now owns 270 shares of the information services provider’s stock worth $26,000 after buying an additional 262 shares in the last quarter. Artemis Wealth Advisors LLC lifted its position in shares of Alphabet by 1,900.0% in the 3rd quarter. Artemis Wealth Advisors LLC now owns 280 shares of the information services provider’s stock valued at $27,000 after acquiring an additional 266 shares in the last quarter. Laurel Wealth Planning LLC lifted its position in shares of Alphabet by 1,900.0% in the 3rd quarter. Laurel Wealth Planning LLC now owns 300 shares of the information services provider’s stock valued at $29,000 after acquiring an additional 285 shares in the last quarter. Coston McIsaac & Partners lifted its position in shares of Alphabet by 1,900.0% in the 3rd quarter. Coston McIsaac & Partners now owns 320 shares of the information services provider’s stock valued at $30,000 after acquiring an additional 304 shares in the last quarter. Finally, Horizons Wealth Management purchased a new stake in shares of Alphabet in the 2nd quarter valued at approximately $33,000. 34.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Needham & Company LLC restated a “buy” rating and issued a $115.00 price target on shares of Alphabet in a research report on Wednesday, March 8th. Loop Capital upped their price target 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. Wells Fargo & Company upped their price target on shares of Alphabet from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, February 3rd. Rosenblatt Securities reduced their price target on shares of Alphabet from $130.00 to $128.00 and set a “buy” rating for the company in a research report on Friday, February 3rd. Finally, Evercore ISI cut their target price on shares of Alphabet from $130.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, December 21st. Five research analysts have rated the stock with a hold rating, thirty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $132.32.

Insiders Place Their Bets

In other Alphabet news, SVP Prabhakar Raghavan sold 22,203 shares of the firm’s stock in a transaction 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 sale, the senior vice president now directly owns 76,579 shares in the company, valued at approximately $6,872,965.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Ann Mather sold 380 shares of the firm’s stock in a transaction dated Tuesday, December 27th. The shares were sold at an average price of $89.24, for a total transaction of $33,911.20. Following the completion of the transaction, the director now directly owns 11,300 shares of the company’s stock, valued at approximately $1,008,412. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Prabhakar Raghavan sold 22,203 shares of the firm’s stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the transaction, the senior vice president now directly owns 76,579 shares of the company’s stock, valued at $6,872,965.25. The disclosure for this sale can be found here. Insiders have sold 74,245 shares of company stock worth $7,174,078 in the last ninety days. Insiders own 11.44% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $100.32 on Friday. Alphabet Inc. has a 1 year low of $83.34 and a 1 year high of $143.79. The firm’s fifty day simple moving average is $94.79 and its 200 day simple moving average is $96.32. 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 (NASDAQ:GOOGL – Get Rating) last posted its quarterly earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.09). The company had revenue of $76.05 billion during the quarter, compared to analyst estimates of $63.15 billion. Alphabet had a return on equity of 23.54% and a net margin of 21.20%. During the same quarter in the prior year, the business earned $1.53 earnings per share. On average, sell-side analysts anticipate that Alphabet Inc. will post 5.12 EPS for the current year.

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.