Sandhill Capital Partners LLC Takes $215,000 Position in Alphabet Inc. (NASDAQ:GOOGL)

Sandhill Capital Partners LLC acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,438 shares of the information services provider’s stock, valued at approximately $215,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of GOOGL. Vanguard Group Inc. lifted its holdings in Alphabet by 1,919.4% during the 3rd quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock worth $45,628,484,000 after buying an additional 453,413,389 shares during the period. State Street Corp lifted its holdings in Alphabet by 1,900.6% during the 3rd quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock worth $20,770,809,000 after buying an additional 206,300,042 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Alphabet by 1,759.2% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock worth $11,106,502,000 after buying an additional 109,870,525 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Alphabet by 1,955.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 61,134,061 shares of the information services provider’s stock worth $5,847,474,000 after buying an additional 58,159,150 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Alphabet by 1,896.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 58,060,946 shares of the information services provider’s stock worth $5,553,529,000 after buying an additional 55,153,448 shares during the period. Institutional investors own 34.06% of the company’s stock.

Alphabet Trading Up 2.1 %

Shares of GOOGL opened at $123.48 on Friday. Alphabet Inc. has a twelve month low of $83.34 and a twelve month high of $126.43. The stock has a market cap of $1.57 trillion, a PE ratio of 27.50, a P/E/G ratio of 1.54 and a beta of 1.10. The company has a quick ratio of 2.32, a current ratio of 2.35 and a debt-to-equity ratio of 0.05. The business’s 50-day moving average price is $108.64 and its 200-day moving average price is $99.13.

Alphabet (NASDAQ:GOOGL – Get Rating) last issued its quarterly earnings data on Tuesday, April 25th. The information services provider reported $1.17 EPS for the quarter, beating the consensus estimate of $1.06 by $0.11. The company had revenue of $69.79 billion during the quarter, compared to analysts’ expectations 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 company earned $1.23 earnings per share. On average, equities analysts forecast that Alphabet Inc. will post 5.41 EPS for the current fiscal year.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 637 shares of the business’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $90.15, for a total transaction of $57,425.55. Following the completion of the transaction, the chief accounting officer now owns 25,442 shares of the company’s stock, valued at $2,293,596.30. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 27,290 shares of the business’s stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $12.72, for a total value of $347,128.80. Following the completion of the transaction, the insider now owns 10,958,925 shares of the company’s stock, valued at approximately $139,397,526. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Amie Thuener O’toole sold 637 shares of the business’s stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $90.15, for a total transaction of $57,425.55. Following the completion of the transaction, the chief accounting officer now directly owns 25,442 shares of the company’s stock, valued at approximately $2,293,596.30. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 732,217 shares of company stock valued at $21,135,371 and sold 753,384 shares valued at $30,574,577. 0.88% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of a number of recent analyst reports. Jefferies Financial Group boosted their price objective on Alphabet from $130.00 to $150.00 in a research note on Tuesday. Royal Bank of Canada boosted their price objective on Alphabet from $130.00 to $132.00 in a research note on Wednesday, April 26th. Rosenblatt Securities dropped their price objective on Alphabet from $130.00 to $128.00 and set a “buy” rating on the stock in a research note on Friday, February 3rd. Morgan Stanley boosted their price objective on Alphabet from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Wednesday, April 26th. Finally, Roth Mkm boosted their price objective on Alphabet from $126.00 to $134.00 and gave the company a “buy” rating in a research note on Wednesday, April 26th. Four analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $130.56.

About Alphabet

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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.