CWA Asset Management Group LLC Buys 2,550 Shares of Alphabet Inc. (NASDAQ:GOOGL)

CWA Asset Management Group LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 8.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 31,985 shares of the information services provider’s stock after purchasing an additional 2,550 shares during the quarter. CWA Asset Management Group LLC’s holdings in Alphabet were worth $2,822,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in GOOGL. Bornite Capital Management LP bought a new stake in Alphabet during the first quarter worth $16,688,000. Markel Corp lifted its stake in Alphabet by 17.0% during the first quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock worth $43,110,000 after purchasing an additional 2,250 shares during the last quarter. United Bank lifted its stake in Alphabet by 5.9% during the first quarter. United Bank now owns 2,033 shares of the information services provider’s stock worth $5,654,000 after purchasing an additional 113 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake 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 worth $900,929,000 after purchasing an additional 61,427 shares during the last quarter. Finally, Dakota Wealth Management lifted its stake in Alphabet by 20.4% during the first quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock worth $25,806,000 after purchasing an additional 1,570 shares during the last quarter. 34.06% of the stock is currently owned by institutional investors.

Alphabet Price Performance

GOOGL stock opened at $101.62 on Friday. The stock has a market capitalization of $1.30 trillion, a PE ratio of 22.33, a price-to-earnings-growth ratio of 1.33 and a beta of 1.09. The company’s 50-day moving average is $95.08 and its 200-day moving average is $96.18. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.38 and a quick ratio of 2.34. Alphabet Inc. has a 1 year low of $83.34 and a 1 year high of $143.79.

Alphabet (NASDAQ:GOOGL – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The information services provider reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). The company had revenue of $76.05 billion for the quarter, compared to the consensus estimate of $63.15 billion. Alphabet had a return on equity of 23.54% and a net margin of 21.20%. During the same period last year, the company earned $1.53 EPS. Equities research analysts expect that Alphabet Inc. will post 5.12 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on GOOGL. Truist Financial cut their target price on Alphabet from $130.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, February 3rd. Bank of America upped their price target on shares of Alphabet from $116.00 to $119.00 and gave the stock a “buy” rating in a report on Tuesday, January 31st. Mizuho lowered their price target on shares of Alphabet from $140.00 to $135.00 and set a “buy” rating for the company in a report on Wednesday, November 30th. MKM Partners upped their price target on shares of Alphabet from $120.00 to $126.00 in a report on Friday, February 3rd. Finally, New Street Research assumed coverage on shares of Alphabet in a report on Wednesday, January 4th. They set a “buy” rating and a $118.00 price target for the company. Four 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.44.

Insider Activity at Alphabet

In related news, Director Ann Mather sold 380 shares of the firm’s stock in a transaction dated Tuesday, December 27th. The shares were sold at an average price of $89.24, for a total value of $33,911.20. Following the transaction, the director now owns 11,300 shares of the company’s stock, valued at approximately $1,008,412. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Ann Mather sold 380 shares of the firm’s stock in a transaction dated Tuesday, December 27th. The shares were sold at an average price of $89.24, for a total value of $33,911.20. Following the transaction, the director now owns 11,300 shares of the company’s stock, valued at approximately $1,008,412. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 855 shares of the firm’s stock in a transaction dated Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total transaction of $77,933.25. Following the completion of the transaction, the chief accounting officer now directly owns 25,122 shares in the company, valued at approximately $2,289,870.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 74,245 shares of company stock valued at $7,174,078. 11.44% of the stock is owned by corporate insiders.

Alphabet Company Profile

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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.