Sutton Place Investors LLC Invests $1.81 Million in Alphabet Inc. (NASDAQ:GOOGL)

Sutton Place Investors LLC bought a new stake in Alphabet Inc. (NASDAQ:GOOGL) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 12,927 shares of the information services provider’s stock, valued at approximately $1,806,000. Alphabet accounts for 1.3% of Sutton Place Investors LLC’s investment portfolio, making the stock its 20th largest holding.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Sapient Capital LLC purchased a new position in Alphabet in the fourth quarter worth approximately $78,782,000. Round Rock Advisors LLC raised its holdings in shares of Alphabet by 74.1% in the 4th quarter. Round Rock Advisors LLC now owns 10,745 shares of the information services provider’s stock valued at $1,501,000 after purchasing an additional 4,575 shares in the last quarter. Petra Financial Advisors Inc. lifted its position in shares of Alphabet by 6.7% during the 4th quarter. Petra Financial Advisors Inc. now owns 2,222 shares of the information services provider’s stock worth $310,000 after purchasing an additional 140 shares during the last quarter. Morton Brown Family Wealth LLC grew its stake in shares of Alphabet by 900.0% during the fourth quarter. Morton Brown Family Wealth LLC now owns 800 shares of the information services provider’s stock worth $112,000 after purchasing an additional 720 shares in the last quarter. Finally, Janiczek Wealth Management LLC increased its holdings in Alphabet by 1.3% in the fourth quarter. Janiczek Wealth Management LLC now owns 13,861 shares of the information services provider’s stock valued at $1,936,000 after buying an additional 181 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GOOGL. Barclays decreased their price target on Alphabet from $180.00 to $173.00 and set an “overweight” rating for the company in a report on Wednesday, January 31st. Truist Financial boosted their target price on Alphabet from $158.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday. Wells Fargo & Company dropped their price target on shares of Alphabet from $144.00 to $141.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 3rd. Needham & Company LLC restated a “buy” rating and set a $160.00 price objective on shares of Alphabet in a research report on Wednesday, January 31st. Finally, Citigroup restated a “buy” rating and issued a $168.00 target price on shares of Alphabet in a report on Wednesday, April 10th. Five research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average target price of $157.97.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,332,691 shares of the company’s stock, valued at approximately $309,548,095.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the sale, the chief executive officer now owns 2,332,691 shares of the company’s stock, valued at $309,548,095.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 660 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total value of $94,769.40. Following the completion of the transaction, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 251,339 shares of company stock worth $36,377,482. 0.88% of the stock is owned by company insiders.

Alphabet Trading Up 0.3 %

Shares of GOOGL stock opened at $156.01 on Friday. The business’s fifty day moving average price is $146.16 and its 200 day moving average price is $140.40. The firm has a market capitalization of $1.94 trillion, a PE ratio of 26.90, a P/E/G ratio of 1.42 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. Alphabet Inc. has a 1-year low of $102.63 and a 1-year high of $160.22.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. The company had revenue of $86.31 billion for the quarter, compared to analyst estimates of $70.77 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. During the same period in the previous year, the firm earned $1.05 EPS. As a group, sell-side analysts forecast that Alphabet Inc. will post 6.78 EPS for the current fiscal year.

Alphabet Company 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.