Seelaus Asset Management LLC Raises Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Seelaus Asset Management LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 6.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,908 shares of the information services provider’s stock after acquiring an additional 1,077 shares during the period. Alphabet comprises approximately 2.4% of Seelaus Asset Management LLC’s investment portfolio, making the stock its 5th biggest holding. Seelaus Asset Management LLC’s holdings in Alphabet were worth $2,502,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Bornite Capital Management LP purchased a new stake in shares of Alphabet in the 1st quarter worth approximately $16,688,000. Markel Corp boosted its position in Alphabet by 17.0% during the 1st quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock valued at $43,110,000 after acquiring an additional 2,250 shares in the last quarter. United Bank raised its position in shares of Alphabet by 5.9% in the 1st quarter. United Bank now owns 2,033 shares of the information services provider’s stock worth $5,654,000 after acquiring an additional 113 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Alphabet by 23.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock valued at $900,929,000 after purchasing an additional 61,427 shares in the last quarter. Finally, Dakota Wealth Management boosted its position in Alphabet by 20.4% during the first quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock valued at $25,806,000 after purchasing an additional 1,570 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total value of $3,291,525.00. Following the completion of the sale, the chief executive officer now directly owns 2,377,691 shares in the company, valued at approximately $347,832,416.39. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CFO Ruth Porat sold 48,077 shares of Alphabet stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the sale, the chief financial officer now owns 1,777,106 shares of the company’s stock, valued at approximately $243,854,485.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total value of $3,291,525.00. Following the completion of the transaction, the chief executive officer now owns 2,377,691 shares of the company’s stock, valued at $347,832,416.39. The disclosure for this sale can be found here. Insiders sold 251,339 shares of company stock worth $36,377,482 over the last ninety days. Corporate insiders own 0.88% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Roth Mkm lowered their price target on shares of Alphabet from $166.00 to $164.00 and set a “buy” rating on the stock in a report on Wednesday, January 31st. Citigroup restated a “buy” rating and issued a $168.00 target price on shares of Alphabet in a research note on Wednesday, April 10th. Wedbush reiterated an “outperform” rating and set a $175.00 price objective on shares of Alphabet in a report on Wednesday, April 10th. UBS Group boosted their target price on Alphabet from $150.00 to $166.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, KeyCorp increased their price target on Alphabet from $153.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, January 29th. Five analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and two have issued 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 $157.97.

Alphabet Trading Up 0.3 %

Shares of GOOGL stock opened at $156.01 on Friday. Alphabet Inc. has a fifty-two week low of $102.63 and a fifty-two week high of $160.22. The firm has a market capitalization of $1.94 trillion, a P/E ratio of 26.90, a PEG ratio of 1.42 and a beta of 1.05. The stock’s fifty day moving average is $146.16 and its two-hundred day moving average is $140.40. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The firm had revenue of $86.31 billion for the quarter, compared to the consensus estimate of $70.77 billion. During the same period last year, the firm posted $1.05 earnings per share. Research analysts expect that Alphabet Inc. will post 6.78 earnings per share for the current fiscal year.

Alphabet Company Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.