Mint Tower Capital Management B.V. Raises Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Mint Tower Capital Management B.V. boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 41,683.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,028 shares of the information services provider’s stock after purchasing an additional 10,004 shares during the period. Mint Tower Capital Management B.V.’s holdings in Alphabet were worth $959,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. increased its position in shares of Alphabet by 2,569.2% during the third quarter. B. Riley Wealth Advisors Inc. now owns 285,307 shares of the information services provider’s stock valued at $27,266,000 after acquiring an additional 274,618 shares during the last quarter. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Alphabet during the third quarter valued at about $135,940,000. Seaport Global Advisors LLC increased its position in shares of Alphabet by 1,900.0% during the third quarter. Seaport Global Advisors LLC now owns 6,580 shares of the information services provider’s stock valued at $629,000 after acquiring an additional 6,251 shares during the last quarter. Capital Impact Advisors LLC increased its position in shares of Alphabet by 1,400.0% during the third quarter. Capital Impact Advisors LLC now owns 13,140 shares of the information services provider’s stock valued at $1,257,000 after acquiring an additional 12,264 shares during the last quarter. Finally, FourThought Financial LLC increased its position in shares of Alphabet by 2,230.7% during the third quarter. FourThought Financial LLC now owns 60,692 shares of the information services provider’s stock valued at $5,805,000 after acquiring an additional 58,088 shares during the last quarter. 34.06% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Alphabet news, Director Ann Mather sold 340 shares of the business’s stock in a transaction that occurred on Wednesday, January 25th. The stock was sold at an average price of $96.92, for a total transaction of $32,952.80. Following the completion of the sale, the director now directly owns 11,300 shares of the company’s stock, valued at approximately $1,095,196. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 that occurred on Monday, January 23rd. The stock was sold at an average price of $100.00, for a total value of $1,131,300.00. Following the completion of the transaction, the insider now directly owns 41,970 shares of the company’s stock, valued at $4,197,000. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Ann Mather sold 340 shares of the company’s stock in a transaction that occurred on Wednesday, January 25th. The shares were sold at an average price of $96.92, for a total value of $32,952.80. Following the completion of the transaction, the director now owns 11,300 shares in the company, valued at approximately $1,095,196. The disclosure for this sale can be found here. In the last ninety days, insiders sold 74,245 shares of company stock valued at $7,174,078. Corporate insiders own 11.44% of the company’s stock.

Alphabet Stock Up 4.4 %

Shares of 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 company has a market capitalization of $1.28 trillion, a price-to-earnings ratio of 22.04, a P/E/G ratio of 1.26 and a beta of 1.09. The business’s 50-day moving average is $94.79 and its 200-day moving average is $96.32. 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 (NASDAQ:GOOGL – Get Rating) last issued its quarterly earnings data 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 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 period in the prior year, the firm posted $1.53 earnings per share. Equities research analysts predict that Alphabet Inc. will post 5.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on GOOGL shares. Morgan Stanley lifted their price target on shares of Alphabet from $125.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, February 3rd. Truist Financial dropped their price objective on shares of Alphabet from $130.00 to $120.00 and set a “buy” rating for the company in a report on Friday, February 3rd. Loop Capital lifted their price objective on shares of Alphabet from $120.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, February 8th. Barclays increased their target price on shares of Alphabet from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, February 3rd. Finally, Rosenblatt Securities lowered their price objective 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. Five analysts have rated the stock with a hold rating, thirty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price 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.