Sandhill Capital Partners LLC Acquires New Position in Alphabet Inc. (NASDAQ:GOOGL)

Sandhill Capital Partners LLC acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) during the 4th quarter, Holdings Channel reports. The fund acquired 2,438 shares of the information services provider’s stock, valued at approximately $215,000.

Other institutional investors also recently bought and sold shares of the company. Spreng Capital Management Inc. grew its holdings in Alphabet by 4.0% during the 1st quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock valued at $364,000 after buying an additional 5 shares in the last quarter. West Family Investments Inc. grew its holdings in shares of Alphabet by 0.3% in the first quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock valued at $4,878,000 after purchasing an additional 6 shares in the last quarter. Maple Capital Management Inc. grew its holdings in shares of Alphabet by 2.1% in the first quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock valued at $823,000 after purchasing an additional 6 shares in the last quarter. Private Advisory Group LLC grew its holdings in shares of Alphabet by 1.8% in the first quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock valued at $1,115,000 after purchasing an additional 7 shares in the last quarter. Finally, Weik Capital Management grew its holdings in shares of Alphabet by 0.5% in the first quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock valued at $4,264,000 after purchasing an additional 8 shares in the last quarter. 34.06% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In other news, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of the business’s stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $14.13, for a total transaction of $1,423,908.36. Following the sale, the insider now owns 11,421,476 shares in the company, valued at $161,385,455.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the company’s stock in a transaction that occurred on Monday, March 13th. The shares were purchased at an average price of $29.29 per share, for a total transaction of $12,155,350.00. Following the completion of the transaction, the insider now directly owns 1,709,527 shares in the company, valued at $50,072,045.83. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of the business’s stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $14.13, for a total value of $1,423,908.36. Following the completion of the transaction, the insider now directly owns 11,421,476 shares of the company’s stock, valued at $161,385,455.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 732,217 shares of company stock worth $21,135,371 and have sold 753,384 shares worth $30,574,577. Insiders own 0.88% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Sanford C. Bernstein cut their target price on shares of Alphabet from $130.00 to $125.00 and set an “outperform” rating for the company in a report on Thursday, April 20th. Wells Fargo & Company raised their target price on shares of Alphabet from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Friday, February 3rd. Roth Mkm raised their target price on shares of Alphabet from $126.00 to $134.00 and gave the company a “buy” rating in a report on Wednesday, April 26th. Barclays lifted their price objective on shares of Alphabet from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Friday, February 3rd. Finally, Rosenblatt Securities dropped their price objective on shares of Alphabet from $130.00 to $128.00 and set a “buy” rating for the company in a research note on Friday, February 3rd. Four research analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $130.56.

Alphabet Price Performance

Shares of GOOGL stock opened at $123.48 on Friday. Alphabet Inc. has a fifty-two week low of $83.34 and a fifty-two week high of $126.43. The firm has a market capitalization of $1.57 trillion, a price-to-earnings ratio of 27.50, a PEG ratio of 1.54 and a beta of 1.10. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.32 and a current ratio of 2.35. The stock’s 50-day simple moving average is $108.64 and its 200-day simple moving average is $99.13.

Alphabet (NASDAQ:GOOGL – Get Rating) last issued its quarterly earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.11. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. The business had revenue of $69.79 billion for the quarter, compared to analyst estimates of $57.19 billion. During the same quarter in the previous year, the firm earned $1.23 earnings per share. As a group, equities analysts forecast that Alphabet Inc. will post 5.41 earnings per share for the current fiscal year.

Alphabet 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.