Wedmont Private Capital Purchases 6,821 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Wedmont Private Capital raised its position in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 38.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 24,509 shares of the information services provider’s stock after buying an additional 6,821 shares during the quarter. Wedmont Private Capital’s holdings in Alphabet were worth $2,141,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Alphabet by 1,919.4% during the 3rd quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock valued at $45,628,484,000 after purchasing an additional 453,413,389 shares during the last quarter. State Street Corp grew its holdings in shares of Alphabet by 1,900.6% during the 3rd quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock valued at $20,770,809,000 after purchasing an additional 206,300,042 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Alphabet by 1,759.2% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock valued at $11,106,502,000 after purchasing an additional 109,870,525 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Alphabet by 1,955.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 61,134,061 shares of the information services provider’s stock valued at $5,847,474,000 after purchasing an additional 58,159,150 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Alphabet by 1,896.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 58,060,946 shares of the information services provider’s stock valued at $5,553,529,000 after purchasing an additional 55,153,448 shares during the last quarter. 34.06% of the stock is owned by institutional investors.

Insider Buying and Selling at Alphabet

In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the firm’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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider John Kent Walker sold 11,313 shares of the company’s stock in a transaction on Monday, January 23rd. The shares were sold at an average price of $100.00, for a total value of $1,131,300.00. Following the completion of the sale, the insider now owns 41,970 shares in the company, valued at approximately $4,197,000. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of Alphabet stock in a transaction dated Monday, March 13th. The stock was purchased at an average price of $29.29 per share, with a total value of $12,155,350.00. Following the purchase, the insider now owns 1,709,527 shares in the company, valued at $50,072,045.83. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 74,245 shares of company stock worth $7,174,078. 11.44% of the stock is owned by corporate insiders.

Alphabet Stock Up 1.3 %

Alphabet stock opened at $101.62 on Friday. 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 Inc. has a 12-month low of $83.34 and a 12-month high of $143.79. The firm’s fifty day moving average is $95.08 and its 200 day moving average is $96.18. The company has a market capitalization of $1.30 trillion, a PE ratio of 22.33, a PEG ratio of 1.33 and a beta of 1.09.

Alphabet (NASDAQ:GOOGL – Get Rating) last released its earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share (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 analyst estimates of $63.15 billion. Alphabet had a net margin of 21.20% and a return on equity of 23.54%. During the same quarter in the previous year, the firm earned $1.53 EPS. As a group, sell-side analysts predict that Alphabet Inc. will post 5.12 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on GOOGL. MKM Partners lifted their price target on shares of Alphabet from $120.00 to $126.00 in a report on Friday, February 3rd. Tigress Financial decreased their price target on shares of Alphabet from $186.00 to $160.00 and set a “strong-buy” rating on the stock in a report on Friday, January 6th. JMP Securities reiterated a “market outperform” rating and set a $132.00 target price on shares of Alphabet in a research report on Thursday. Mizuho cut their target price on shares of Alphabet from $140.00 to $135.00 and set a “buy” rating on the stock in a research report on Wednesday, November 30th. Finally, Bank of America lifted their target price on shares of Alphabet from $116.00 to $119.00 and gave the stock a “buy” rating in a research report on Tuesday, January 31st. Four investment analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.44.

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.