CALIFORNIA FIRST LEASING Corp acquired a new stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 4,365 shares of the information services provider’s stock, valued at approximately $12,646,000. Alphabet makes up 6.3% of CALIFORNIA FIRST LEASING Corp’s investment portfolio, making the stock its 3rd largest holding.
A number of other hedge funds have also modified their holdings of GOOGL. Allspring Global Investments Holdings LLC acquired a new stake in shares of Alphabet during the 4th quarter worth about $1,680,864,000. Fortis Advisors LLC lifted its stake in Alphabet by 149,779.0% in the third quarter. Fortis Advisors LLC now owns 535,068 shares of the information services provider’s stock valued at $1,508,000 after buying an additional 534,711 shares during the last quarter. Liontrust Investment Partners LLP acquired a new stake in shares of Alphabet in the third quarter valued at approximately $431,244,000. Two Sigma Advisers LP boosted its stake in Alphabet by 213.2% during the 3rd quarter. Two Sigma Advisers LP now owns 225,786 shares of the information services provider’s stock worth $603,643,000 after purchasing an additional 153,700 shares during the period. Finally, Industrial Alliance Investment Management Inc. acquired a new stake in Alphabet during the 4th quarter worth approximately $52,000. 41.70% of the stock is owned by institutional investors.
GOOGL has been the topic of a number of analyst reports. Credit Suisse Group lowered their price objective on Alphabet from $3,450.00 to $3,400.00 and set an “outperform” rating on the stock in a report on Wednesday, April 27th. Bank of America raised their target price on Alphabet from $3,470.00 to $3,510.00 and gave the company a “buy” rating in a report on Wednesday, February 2nd. Rosenblatt Securities assumed coverage on shares of Alphabet in a research note on Tuesday, April 19th. They issued a “buy” rating and a $4,183.00 price objective for the company. Tigress Financial upped their target price on shares of Alphabet from $3,540.00 to $3,670.00 and gave the stock a “strong-buy” rating in a research report on Friday, March 18th. Finally, UBS Group reduced their price target on shares of Alphabet from $3,850.00 to $3,600.00 and set a “buy” rating for the company in a research report on Wednesday, April 27th. Four equities research analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $3,314.08.
Alphabet shares are going to split on Monday, July 18th. The 20-1 split was announced on Tuesday, February 1st. The newly minted shares will be payable to shareholders after the market closes on Friday, July 15th.
Alphabet (NASDAQ:GOOGL – Get Rating) last issued its quarterly earnings data on Tuesday, April 26th. The information services provider reported $24.62 EPS for the quarter, missing analysts’ consensus estimates of $25.51 by ($0.89). Alphabet had a return on equity of 30.18% and a net margin of 27.57%. During the same period last year, the firm posted $26.29 EPS. On average, equities analysts forecast that Alphabet Inc. will post 112.62 earnings per share for the current fiscal year.
In related news, Director Brin Sergey sold 2,639 shares of the firm’s stock in a transaction that occurred on Monday, April 11th. The stock was sold at an average price of $2,632.28, for a total value of $6,946,586.92. Following the sale, the director now owns 18,599,842 shares of the company’s stock, valued at approximately $48,959,992,099.76. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Prabhakar Raghavan sold 490 shares of the company’s stock in a transaction on Tuesday, May 3rd. The stock was sold at an average price of $2,335.30, for a total value of $1,144,297.00. Following the transaction, the senior vice president now owns 497 shares of the company’s stock, valued at $1,160,644.10. The disclosure for this sale can be found here. Insiders have sold a total of 550,261 shares of company stock worth $21,637,779 over the last quarter. 11.70% of the stock is currently owned by insiders.
About Alphabet (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.
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