Lumature Wealth Partners LLC Grows Position in Alphabet Inc. (NASDAQ:GOOGL)

Lumature Wealth Partners LLC raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 2.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 811 shares of the information services provider’s stock after buying an additional 17 shares during the quarter. Alphabet comprises about 0.9% of Lumature Wealth Partners LLC’s portfolio, making the stock its 21st biggest holding. Lumature Wealth Partners LLC’s holdings in Alphabet were worth $2,349,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Oxbow Advisors LLC grew its holdings in shares of Alphabet by 0.7% in the third quarter. Oxbow Advisors LLC now owns 588 shares of the information services provider’s stock valued at $1,572,000 after purchasing an additional 4 shares during the period. Wagner Wealth Management LLC grew its holdings in shares of Alphabet by 4.5% in the third quarter. Wagner Wealth Management LLC now owns 92 shares of the information services provider’s stock valued at $272,000 after purchasing an additional 4 shares during the period. Boltwood Capital Management grew its holdings in shares of Alphabet by 0.3% in the fourth quarter. Boltwood Capital Management now owns 1,333 shares of the information services provider’s stock valued at $3,862,000 after purchasing an additional 4 shares during the period. Latitude Advisors LLC grew its holdings in shares of Alphabet by 0.4% in the fourth quarter. Latitude Advisors LLC now owns 1,108 shares of the information services provider’s stock valued at $3,210,000 after purchasing an additional 4 shares during the period. Finally, Brave Asset Management Inc. grew its holdings in shares of Alphabet by 0.6% in the fourth quarter. Brave Asset Management Inc. now owns 628 shares of the information services provider’s stock valued at $1,819,000 after purchasing an additional 4 shares during the period. 41.70% of the stock is owned by institutional investors and hedge funds.

Shares of Alphabet stock opened at $2,321.01 on Friday. The firm has a market capitalization of $1.53 trillion, a P/E ratio of 20.99, a P/E/G ratio of 1.06 and a beta of 1.13. Alphabet Inc. has a 52 week low of $2,196.49 and a 52 week high of $3,030.93. The company has a quick ratio of 2.85, a current ratio of 2.87 and a debt-to-equity ratio of 0.06. The firm’s 50 day moving average is $2,570.32 and its two-hundred day moving average is $2,733.56.

Alphabet shares are scheduled to split before the market opens on Monday, July 18th. The 20-1 split was announced on Tuesday, February 1st. The newly issued shares will be payable to shareholders after the market closes on Friday, July 15th.

Alphabet (NASDAQ:GOOGLGet Rating) last announced its quarterly earnings results on Tuesday, April 26th. The information services provider reported $24.62 EPS for the quarter, missing the consensus estimate of $25.51 by ($0.89). Alphabet had a net margin of 27.57% and a return on equity of 30.18%. During the same quarter in the previous year, the business earned $26.29 earnings per share. As a group, research analysts expect that Alphabet Inc. will post 112.62 earnings per share for the current fiscal year.

In other news, major shareholder 2016 Gp L.L.C. Gv sold 544,249 shares of the firm’s stock in a transaction that occurred on Monday, April 11th. The shares were sold at an average price of $11.16, for a total transaction of $6,073,818.84. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Prabhakar Raghavan sold 490 shares of the firm’s stock in a transaction that occurred on Tuesday, May 3rd. The stock was sold at an average price of $2,335.30, for a total transaction of $1,144,297.00. Following the transaction, the senior vice president now owns 497 shares in the company, valued at $1,160,644.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 550,261 shares of company stock worth $21,637,779. Insiders own 13.20% of the company’s stock.

GOOGL has been the subject of a number of analyst reports. Sanford C. Bernstein upped their price objective on shares of Alphabet from $3,250.00 to $3,500.00 and gave the company an “outperform” rating in a report on Wednesday, February 2nd. Mizuho decreased their target price on shares of Alphabet from $3,600.00 to $3,500.00 and set a “buy” rating on the stock in a research report on Wednesday, April 27th. Jefferies Financial Group decreased their target price on shares of Alphabet from $3,600.00 to $3,400.00 and set a “buy” rating on the stock in a research report on Wednesday, April 27th. Canaccord Genuity Group decreased their target price on shares of Alphabet from $3,500.00 to $3,300.00 and set a “buy” rating on the stock in a research report on Wednesday, April 27th. Finally, BMO Capital Markets decreased their target price on shares of Alphabet from $3,300.00 to $3,000.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 27th. Four equities research analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $3,314.08.

Alphabet Profile (Get Rating)

Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

See Also

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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