Grange Capital LLC Invests $4.26 Million in Alphabet Inc. (NASDAQ:GOOGL)

Grange Capital LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOGL) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 22,483 shares of the information services provider’s stock, valued at approximately $4,256,000. Alphabet accounts for about 4.5% of Grange Capital LLC’s investment portfolio, making the stock its 6th biggest position.

Other institutional investors also recently bought and sold shares of the company. Schear Investment Advisers LLC increased its stake in Alphabet by 17.0% during the third quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock worth $5,598,000 after purchasing an additional 4,905 shares during the period. Trinity Financial Advisors LLC grew its holdings in shares of Alphabet by 4.5% in the third quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock valued at $771,000 after purchasing an additional 190 shares in the last quarter. Landscape Capital Management L.L.C. grew its holdings in shares of Alphabet by 27.9% in the third quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider’s stock valued at $4,192,000 after purchasing an additional 5,516 shares in the last quarter. abrdn plc increased its stake in Alphabet by 10.7% during the 3rd quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock worth $1,037,196,000 after buying an additional 611,233 shares during the period. Finally, StoneCrest Wealth Management Inc. lifted its holdings in Alphabet by 0.7% during the 3rd quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock worth $3,567,000 after buying an additional 140 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GOOGL. Loop Capital upped their price objective on Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. China Renaissance upgraded Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. lifted their price objective on Alphabet from $212.00 to $232.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Wolfe Research upped their target price on shares of Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Finally, Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Nine research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $211.00.

Alphabet Stock Up 1.6 %

NASDAQ:GOOGL opened at $204.02 on Friday. The stock has a 50-day simple moving average of $188.19 and a 200 day simple moving average of $174.03. Alphabet Inc. has a one year low of $130.66 and a one year high of $205.48. The company has a market capitalization of $2.50 trillion, a price-to-earnings ratio of 27.06, a price-to-earnings-growth ratio of 1.26 and a beta of 0.98. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOGL) 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. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. During the same period in the previous year, the business earned $1.55 EPS. Sell-side analysts predict that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,834 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $194.32, for a total transaction of $550,702.88. Following the completion of the transaction, the chief accounting officer now owns 17,847 shares in the company, valued at $3,468,029.04. The trade was a 13.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $177.36, for a total transaction of $3,990,600.00. Following the transaction, the chief executive officer now directly owns 2,084,306 shares of the company’s stock, valued at approximately $369,672,512.16. This trade represents a 1.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 121,630 shares of company stock worth $22,258,133 over the last 90 days. Insiders own 11.55% of the company’s stock.

About Alphabet

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.