Cookson Peirce & Co. Inc. Increases Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Cookson Peirce & Co. Inc. lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 16.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,053 shares of the information services provider’s stock after buying an additional 559 shares during the period. Cookson Peirce & Co. Inc.’s holdings in Alphabet were worth $566,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Meritage Group LP grew its stake in shares of Alphabet by 1,061.5% during the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after purchasing an additional 276 shares during the period. Macroview Investment Management LLC grew its position in Alphabet by 165.8% during the third quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock worth $42,000 after buying an additional 199 shares during the period. Armor Investment Advisors LLC increased its holdings in Alphabet by 31.0% in the fourth quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock valued at $47,000 after buying an additional 80 shares in the last quarter. Valued Wealth Advisors LLC acquired a new stake in shares of Alphabet during the 4th quarter valued at approximately $55,000. Finally, LFA Lugano Financial Advisors SA grew its holdings in shares of Alphabet by 301.5% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 522 shares of the information services provider’s stock worth $73,000 after acquiring an additional 392 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In other news, Director Frances Arnold sold 230 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the transaction, the director now directly owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CAO Amie Thuener O’toole sold 660 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of the sale, the chief accounting officer now directly owns 27,920 shares in the company, valued at $4,009,032.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frances Arnold sold 230 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the transaction, the director now owns 15,104 shares in the company, valued at approximately $2,326,922.24. The disclosure for this sale can be found here. Insiders sold 251,339 shares of company stock valued at $36,377,482 over the last 90 days. 0.88% of the stock is owned by corporate insiders.

Alphabet Stock Up 1.3 %

Shares of NASDAQ GOOGL opened at $158.26 on Wednesday. The stock has a fifty day moving average price of $146.69 and a 200 day moving average price of $140.93. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12-month low of $102.63 and a 12-month high of $160.22. The company has a market cap of $1.97 trillion, a P/E ratio of 27.29, a P/E/G ratio of 1.42 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $86.31 billion during the quarter, compared to analyst estimates of $70.77 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. During the same quarter last year, the firm earned $1.05 earnings per share. Research analysts anticipate that Alphabet Inc. will post 6.78 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Needham & Company LLC reiterated a “buy” rating and set a $160.00 target price on shares of Alphabet in a research report on Wednesday, January 31st. Truist Financial boosted their price objective on shares of Alphabet from $158.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Wolfe Research lifted their target price on shares of Alphabet from $170.00 to $180.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. UBS Group increased their price target on shares of Alphabet from $150.00 to $166.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Finally, BMO Capital Markets restated an “outperform” rating and set a $185.00 price objective (up from $178.00) on shares of Alphabet in a research report on Wednesday, April 10th. Five investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $158.71.

Alphabet 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, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.