Dakota Wealth Management Increases Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Dakota Wealth Management lifted its position in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 1.5% in the fourth quarter, Holdings Channel reports. The firm owned 245,325 shares of the information services provider’s stock after buying an additional 3,515 shares during the period. Alphabet accounts for 1.1% of Dakota Wealth Management’s investment portfolio, making the stock its 12th largest holding. Dakota Wealth Management’s holdings in Alphabet were worth $46,440,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of GOOGL. Oppenheimer Asset Management Inc. boosted its holdings in shares of Alphabet by 15.0% in the second quarter. Oppenheimer Asset Management Inc. now owns 465,680 shares of the information services provider’s stock valued at $84,824,000 after purchasing an additional 60,814 shares during the period. Envestnet Asset Management Inc. lifted its holdings in Alphabet by 5.0% during the second quarter. Envestnet Asset Management Inc. now owns 6,816,038 shares of the information services provider’s stock worth $1,241,541,000 after buying an additional 325,420 shares during the period. OV Management LLC lifted its holdings in Alphabet by 1.0% during the second quarter. OV Management LLC now owns 38,136 shares of the information services provider’s stock worth $6,946,000 after buying an additional 362 shares during the period. American Financial & Tax Strategies Inc. purchased a new stake in Alphabet during the second quarter worth $233,000. Finally, Alta Advisers Ltd lifted its holdings in Alphabet by 1.9% during the second quarter. Alta Advisers Ltd now owns 16,100 shares of the information services provider’s stock worth $2,933,000 after buying an additional 300 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on GOOGL shares. BMO Capital Markets restated an “outperform” rating and set a $217.00 target price (up previously from $215.00) on shares of Alphabet in a report on Wednesday, October 30th. Wedbush upped their target price on Alphabet from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, January 6th. Pivotal Research upped their target price on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. The Goldman Sachs Group restated a “buy” rating and set a $210.00 target price on shares of Alphabet in a report on Thursday, December 12th. Finally, Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Nine analysts have rated the stock with a hold rating, thirty have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $209.44.

View Our Latest Stock Analysis on GOOGL

Alphabet Trading Up 1.1 %

GOOGL stock opened at $200.21 on Monday. The company’s 50-day simple moving average is $186.46 and its 200-day simple moving average is $173.69. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52-week low of $130.66 and a 52-week high of $202.29. The firm has a market cap of $2.45 trillion, a P/E ratio of 26.55, a PEG ratio of 1.27 and a beta of 0.98.

Alphabet (NASDAQ:GOOGLGet Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period last year, the company posted $1.55 EPS. As a group, equities analysts forecast that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Insider Activity at Alphabet

In related news, insider John Kent Walker sold 16,820 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $192.62, for a total value of $3,239,868.40. Following the transaction, the insider now directly owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. This trade represents a 27.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the completion of the transaction, the director now directly owns 330,466 shares in the company, valued at $59,741,643.48. This represents a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 133,387 shares of company stock valued at $24,368,654. 11.55% of the stock is owned by corporate insiders.

Alphabet Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGLFree Report).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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