Redhawk Wealth Advisors Inc. raised its holdings in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 2.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 5,162 shares of the information services provider’s stock after buying an additional 110 shares during the quarter. Redhawk Wealth Advisors Inc.’s holdings in Alphabet were worth $455,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in GOOGL. FourThought Financial Partners LLC purchased a new stake in shares of Alphabet in the 4th quarter worth about $5,415,000. Glenview Trust Co grew its position in shares of Alphabet by 10.7% in the fourth quarter. Glenview Trust Co now owns 458,830 shares of the information services provider’s stock valued at $40,483,000 after purchasing an additional 44,278 shares during the last quarter. Willow Creek Wealth Management Inc. increased its stake in shares of Alphabet by 1,926.9% during the 3rd quarter. Willow Creek Wealth Management Inc. now owns 18,546 shares of the information services provider’s stock worth $1,774,000 after purchasing an additional 17,631 shares in the last quarter. Bfsg LLC increased its stake in shares of Alphabet by 160.5% during the 4th quarter. Bfsg LLC now owns 8,075 shares of the information services provider’s stock worth $712,000 after purchasing an additional 4,975 shares in the last quarter. Finally, Ibex Investors LLC acquired a new position in shares of Alphabet during the 4th quarter worth approximately $2,617,000. 34.06% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Alphabet
In other news, Director Ann Mather sold 380 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 11,300 shares in the company, valued at approximately $1,017,565. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, SVP Prabhakar Raghavan sold 32,379 shares of Alphabet stock in a transaction dated 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 completion of the transaction, the senior vice president now directly owns 76,580 shares in the company, valued at $7,922,966.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ann Mather sold 380 shares of the business’s stock in a transaction on Monday, February 27th. The shares were 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 approximately $1,017,565. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 732,217 shares of company stock valued at $21,135,371 and have sold 753,384 shares valued at $30,574,577. Corporate insiders own 0.88% of the company’s stock.
Alphabet Trading Up 2.1 %
Alphabet (NASDAQ:GOOGL – Get Rating) last released its quarterly earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.11. The firm had revenue of $69.79 billion for the quarter, compared to the consensus estimate of $57.19 billion. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. During the same quarter in the previous year, the firm posted $1.23 EPS. Analysts expect that Alphabet Inc. will post 5.41 EPS for the current fiscal year.
Wall Street Analyst Weigh In
GOOGL has been the subject of several recent research reports. Citigroup raised their price target on Alphabet from $120.00 to $130.00 in a research report on Wednesday, April 26th. KeyCorp cut their target price on shares of Alphabet from $118.00 to $117.00 and set an “overweight” rating for the company in a research note on Monday, January 30th. Rosenblatt Securities reduced their target price on shares of Alphabet from $130.00 to $128.00 and set a “buy” rating on the stock in a report on Friday, February 3rd. MKM Partners lifted their price target on shares of Alphabet from $120.00 to $126.00 in a report on Friday, February 3rd. Finally, Loop Capital downgraded shares of Alphabet from a “buy” rating to a “hold” rating and set a $125.00 price objective on the stock. in a research note on Monday, May 15th. Four research analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $130.56.
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.
- Get a free copy of the StockNews.com research report on Alphabet (GOOGL)
- 3 Electrical Gear Makers: Hidden Gems Amid Growing Digitization
- Can ULTA’s Defensive Product Line Stand Against This Down Cycle
- A Reversal Is Brewing For Medtronic: Buying The Dip
- Ralph Lauren’s Styled Dividend Is Still In Season
- Dollar Tree Falls As Theft Cuts Into Bottom Line
Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL – Get Rating).
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.