Burr Financial Services LLC Increases Position in Alphabet Inc. (NASDAQ:GOOGL)

Burr Financial Services LLC grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 66.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,560 shares of the information services provider’s stock after acquiring an additional 7,416 shares during the period. Alphabet comprises 2.4% of Burr Financial Services LLC’s portfolio, making the stock its 9th largest position. Burr Financial Services LLC’s holdings in Alphabet were worth $3,513,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Citizens Financial Group Inc. RI increased its stake in Alphabet by 98.5% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 475,925 shares of the information services provider’s stock valued at $86,690,000 after purchasing an additional 236,214 shares in the last quarter. City of London Investment Management Co. Ltd. increased its stake in Alphabet by 7.8% in the 2nd quarter. City of London Investment Management Co. Ltd. now owns 199,835 shares of the information services provider’s stock worth $36,384,000 after buying an additional 14,420 shares in the last quarter. Wulff Hansen & CO. increased its holdings in Alphabet by 18,810.2% in the 2nd quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock valued at $807,700,000 after acquiring an additional 4,410,811 shares during the last quarter. Luts & Greenleigh Group Inc. purchased a new stake in Alphabet during the second quarter valued at $1,391,000. Finally, Lmcg Investments LLC lifted its position in Alphabet by 1.3% in the second quarter. Lmcg Investments LLC now owns 272,392 shares of the information services provider’s stock worth $49,616,000 after buying an additional 3,366 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GOOGL has been the topic of a number of recent research reports. Scotiabank upgraded shares of Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. Piper Sandler reissued an “overweight” rating and set a $210.00 target price (up from $200.00) on shares of Alphabet in a research note on Wednesday, October 30th. Truist Financial upped their target price on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Bank of America reissued a “buy” rating and set a $210.00 target price on shares of Alphabet in a research note on Monday, December 23rd. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $210.00 target price on shares of Alphabet in a report on Thursday, December 12th. Nine investment analysts have rated the stock with a hold rating, thirty have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $209.82.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $195.30 on Wednesday. The stock has a fifty day moving average of $186.79 and a 200-day moving average of $173.61. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The company has a market capitalization of $2.39 trillion, a PE ratio of 25.90, a price-to-earnings-growth ratio of 1.27 and a beta of 0.98. Alphabet Inc. has a one year low of $130.66 and a one year high of $202.29.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. During the same quarter in the prior year, the firm earned $1.55 EPS. As a group, equities analysts anticipate that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated 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 sale, the chief executive officer now directly owns 2,084,306 shares in the company, valued at approximately $369,672,512.16. The trade was a 1.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $171.42, for a total transaction of $234,331.14. Following the transaction, the chief accounting officer now directly owns 26,349 shares of the company’s stock, valued at $4,516,745.58. This represents a 4.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 122,887 shares of company stock worth $22,470,464. 11.55% of the stock is owned by corporate insiders.

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.