KLCM Advisors Inc. lifted its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 6.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,348 shares of the information services provider’s stock after acquiring an additional 415 shares during the period. KLCM Advisors Inc.’s holdings in Alphabet were worth $880,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Live Oak Investment Partners bought a new position in shares of Alphabet during the fourth quarter valued at $26,000. Armor Investment Advisors LLC purchased a new position in Alphabet in the second quarter worth about $28,000. CarsonAllaria Wealth Management Ltd. raised its holdings in Alphabet by 136.7% in the second quarter. CarsonAllaria Wealth Management Ltd. now owns 284 shares of the information services provider’s stock worth $34,000 after buying an additional 164 shares during the last quarter. Sanctuary Wealth Management L.L.C. purchased a new stake in shares of Alphabet during the fourth quarter valued at approximately $34,000. Finally, Turim 21 Investimentos Ltda. purchased a new stake in shares of Alphabet during the third quarter valued at approximately $38,000. Hedge funds and other institutional investors own 35.08% of the company’s stock.
Insider Activity at Alphabet
In related news, Director Ann Mather sold 220 shares of the firm’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $130.14, for a total transaction of $28,630.80. Following the completion of the sale, the director now directly owns 4,818 shares of the company’s stock, valued at approximately $627,014.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Alphabet news, Director Ann Mather sold 220 shares of Alphabet stock in a transaction on Friday, August 25th. The stock was sold at an average price of $130.14, for a total transaction of $28,630.80. Following the completion of the sale, the director now directly owns 4,818 shares of the company’s stock, valued at approximately $627,014.52. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Frances Arnold sold 250 shares of Alphabet stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $124.36, for a total value of $31,090.00. Following the completion of the sale, the director now owns 14,226 shares of the company’s stock, valued at $1,769,145.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 176,576 shares of company stock worth $23,425,367. Insiders own 0.88% of the company’s stock.
Alphabet Price Performance
Alphabet (NASDAQ:GOOGL – Get Free Report) last issued its quarterly earnings data on Tuesday, October 24th. The information services provider reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.10. The company had revenue of $64.05 billion for the quarter, compared to analysts’ expectations of $63.13 billion. Alphabet had a return on equity of 25.24% and a net margin of 22.46%. Analysts anticipate that Alphabet Inc. will post 5.74 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
GOOGL has been the topic of several analyst reports. Mizuho upped their price objective on Alphabet from $135.00 to $155.00 in a research report on Wednesday, July 26th. Barclays dropped their price objective on Alphabet from $200.00 to $180.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 25th. Needham & Company LLC upped their target price on shares of Alphabet from $140.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, October 25th. JMP Securities lifted their price target on shares of Alphabet from $138.00 to $140.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 25th. Finally, Piper Sandler raised their target price on shares of Alphabet from $147.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, October 25th. Five investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $147.00.
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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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