Lumature Wealth Partners LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 2.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 811 shares of the information services provider’s stock after buying an additional 17 shares during the period. Alphabet makes up 0.9% of Lumature Wealth Partners LLC’s investment portfolio, making the stock its 21st biggest holding. Lumature Wealth Partners LLC’s holdings in Alphabet were worth $2,349,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in GOOGL. Morling Financial Advisors LLC purchased a new position in shares of Alphabet during the 4th quarter valued at $29,000. West Bancorporation Inc. purchased a new position in shares of Alphabet during the 4th quarter valued at $29,000. NS Partners Ltd purchased a new position in shares of Alphabet during the 4th quarter valued at $41,000. J Arnold Wealth Management Co purchased a new position in shares of Alphabet during the 3rd quarter valued at $40,000. Finally, Schubert & Co purchased a new position in shares of Alphabet during the 4th quarter valued at $43,000. Institutional investors and hedge funds own 41.70% of the company’s stock.
GOOGL has been the subject of a number of recent analyst reports. Evercore ISI reduced their price target on shares of Alphabet from $3,500.00 to $3,300.00 and set an “outperform” rating for the company in a research report on Wednesday, April 27th. Tigress Financial lifted their price objective on shares of Alphabet from $3,540.00 to $3,670.00 and gave the stock a “strong-buy” rating in a report on Friday, March 18th. Rosenblatt Securities assumed coverage on shares of Alphabet in a report on Tuesday, April 19th. They set a “buy” rating and a $4,183.00 price objective for the company. Credit Suisse Group dropped their price objective on shares of Alphabet from $3,450.00 to $3,400.00 and set an “outperform” rating for the company in a report on Wednesday, April 27th. Finally, UBS Group dropped their price objective on shares of Alphabet from $3,850.00 to $3,600.00 and set a “buy” rating for the company in a report on Wednesday, April 27th. Four analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $3,314.08.
Shares of Alphabet are scheduled to split on Monday, July 18th. The 20-1 split was announced on Tuesday, February 1st. The newly created shares will be payable to shareholders after the market closes on Friday, July 15th.
Alphabet (NASDAQ:GOOGL – Get Rating) last posted its earnings results on Tuesday, April 26th. The information services provider reported $24.62 earnings per share for the quarter, missing the consensus estimate of $25.51 by ($0.89). Alphabet had a net margin of 27.57% and a return on equity of 30.18%. During the same quarter in the previous year, the firm earned $26.29 EPS. On average, research analysts expect that Alphabet Inc. will post 112.62 EPS for the current year.
In other Alphabet news, Director Brin Sergey sold 2,639 shares of the stock in a transaction on Monday, April 11th. The shares were sold at an average price of $2,632.28, for a total transaction of $6,946,586.92. Following the completion of the transaction, the director now owns 18,599,842 shares in the company, valued at $48,959,992,099.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 42 shares of the stock in a transaction on Tuesday, May 3rd. The shares were sold at an average price of $2,335.30, for a total transaction of $98,082.60. Following the transaction, the chief accounting officer now owns 1,170 shares of the company’s stock, valued at approximately $2,732,301. The disclosure for this sale can be found here. Insiders have sold 550,261 shares of company stock valued at $21,637,779 over the last ninety days. 13.20% of the stock is currently owned by corporate insiders.
About Alphabet (Get Rating)
Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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