Saturna Capital CORP Increases Stake in Alphabet Inc. (NASDAQ:GOOGL)

Saturna Capital CORP boosted its stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 9.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 730,890 shares of the information services provider’s stock after acquiring an additional 61,565 shares during the period. Alphabet comprises approximately 1.4% of Saturna Capital CORP’s investment portfolio, making the stock its 29th largest position. Saturna Capital CORP’s holdings in Alphabet were worth $64,486,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. DC Investments Management LLC purchased a new stake in Alphabet in the 1st quarter valued at about $114,000. Bridgefront Capital LLC acquired a new position in Alphabet in the 1st quarter valued at about $225,000. Worth Asset Management LLC acquired a new position in Alphabet in the 1st quarter valued at about $206,000. Eudaimonia Advisors LLC grew its position in Alphabet by 15.1% in the 1st quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock valued at $275,000 after acquiring an additional 13 shares in the last quarter. Finally, Aspire Capital Advisors LLC acquired a new position in Alphabet in the 1st quarter valued at about $281,000. 34.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 32,379 shares of the company’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $103.46, for a total value of $3,349,931.34. Following the sale, the senior vice president now owns 76,580 shares of the company’s stock, valued at $7,922,966.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Ann Mather sold 380 shares of the stock in a transaction on Monday, February 27th. The stock was sold at an average price of $90.05, for a total transaction of $34,219.00. Following the sale, the director now owns 11,300 shares of the company’s stock, valued at $1,017,565. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Prabhakar Raghavan sold 32,379 shares of the stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $103.46, for a total value of $3,349,931.34. Following the sale, the senior vice president now directly owns 76,580 shares in the company, valued at approximately $7,922,966.80. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 732,217 shares of company stock worth $21,135,371 and sold 601,450 shares worth $28,354,856. Company insiders own 0.88% of the company’s stock.

Analysts Set New Price Targets

GOOGL has been the subject of several research reports. Wolfe Research lifted their target price on Alphabet from $120.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, April 26th. StockNews.com initiated coverage on Alphabet in a research report on Thursday. They issued a “buy” rating for the company. Royal Bank of Canada lifted their target price on Alphabet from $130.00 to $132.00 in a research report on Wednesday, April 26th. Wells Fargo & Company lifted their target price on Alphabet from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, February 3rd. Finally, Credit Suisse Group lowered their price objective on Alphabet from $136.00 to $135.00 and set an “outperform” rating for the company in a research report on Wednesday, April 26th. 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 company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $130.06.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $122.76 on Monday. Alphabet Inc. has a twelve month low of $83.34 and a twelve month high of $125.97. The company has a current ratio of 2.35, a quick ratio of 2.32 and a debt-to-equity ratio of 0.05. The stock has a 50 day moving average of $106.43 and a two-hundred day moving average of $98.26. The stock has a market cap of $1.56 trillion, a P/E ratio of 27.34, a P/E/G ratio of 1.56 and a beta of 1.10.

Alphabet (NASDAQ:GOOGL – Get Rating) last released its quarterly earnings results on Tuesday, April 25th. The information services provider reported $1.17 EPS for the quarter, topping the consensus estimate of $1.06 by $0.11. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. The business had revenue of $69.79 billion during the quarter, compared to analysts’ expectations of $57.19 billion. During the same quarter in the prior year, the business earned $1.23 earnings per share. On average, research analysts forecast that Alphabet Inc. will post 5.41 earnings per share for the current year.

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.