Alphabet Inc. (NASDAQ:GOOGL) is ClariVest Asset Management LLC’s 3rd Largest Position

Posted by Lindsey Winhoffer on Aug 6th, 2022

ClariVest Asset Management LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 4.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,456 shares of the information services provider’s stock after buying an additional 1,200 shares during the quarter. Alphabet accounts for about 3.0% of ClariVest Asset Management LLC’s holdings, making the stock its 3rd biggest holding. ClariVest Asset Management LLC’s holdings in Alphabet were worth $76,366,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of GOOGL. Nicollet Investment Management Inc. lifted its position in shares of Alphabet by 5.8% during the first quarter. Nicollet Investment Management Inc. now owns 2,409 shares of the information services provider’s stock worth $6,700,000 after purchasing an additional 131 shares in the last quarter. Financial Advisory Service Inc. lifted its position in shares of Alphabet by 1.2% during the first quarter. Financial Advisory Service Inc. now owns 1,013 shares of the information services provider’s stock worth $2,818,000 after purchasing an additional 12 shares in the last quarter. Rollins Financial lifted its position in shares of Alphabet by 15.5% during the first quarter. Rollins Financial now owns 932 shares of the information services provider’s stock worth $2,592,000 after purchasing an additional 125 shares in the last quarter. Bell Rock Capital LLC acquired a new stake in shares of Alphabet during the first quarter worth about $513,000. Finally, LexAurum Advisors LLC lifted its position in shares of Alphabet by 46.9% during the first quarter. LexAurum Advisors LLC now owns 423 shares of the information services provider’s stock worth $1,177,000 after purchasing an additional 135 shares in the last quarter. Hedge funds and other institutional investors own 41.70% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 34,799 shares of the firm’s stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $118.25, for a total value of $4,114,981.75. Following the completion of the sale, the insider now owns 18,484 shares of the company’s stock, valued at $2,185,733. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Ann Mather sold 20 shares of Alphabet stock in a transaction on Monday, June 27th. The stock was sold at an average price of $2,383.32, for a total transaction of $47,666.40. Following the completion of the transaction, the director now owns 565 shares of the company’s stock, valued at approximately $1,346,575.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider John Kent Walker sold 34,799 shares of Alphabet stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $118.25, for a total value of $4,114,981.75. Following the transaction, the insider now directly owns 18,484 shares of the company’s stock, valued at approximately $2,185,733. The disclosure for this sale can be found here. Over the last quarter, insiders sold 42,383 shares of company stock valued at $15,761,666. 11.44% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Bank of America reduced their price target on shares of Alphabet from $132.00 to $125.00 and set a “buy” rating on the stock in a research report on Wednesday, July 27th. Oppenheimer reduced their target price on shares of Alphabet to $155.00 and set an “outperform” rating on the stock in a report on Wednesday, July 27th. Citigroup reduced their target price on shares of Alphabet from $145.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, July 27th. Jefferies Financial Group reduced their target price on shares of Alphabet from $155.00 to $130.00 and set a “buy” rating on the stock in a report on Wednesday, July 27th. Finally, JMP Securities reduced their target price on shares of Alphabet from $165.00 to $160.00 and set a “market outperform” rating on the stock in a report on Thursday, June 30th. Five 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.36.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $117.47 on Friday. The firm’s fifty day moving average price is $155.27 and its 200 day moving average price is $137.96. Alphabet Inc. has a 1-year low of $101.88 and a 1-year high of $151.55. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.81 and a quick ratio of 2.78. The firm has a market cap of $1.55 trillion, a price-to-earnings ratio of 21.85, a price-to-earnings-growth ratio of 1.91 and a beta of 1.08.

Alphabet (NASDAQ:GOOGL – Get Rating) last released its earnings results on Tuesday, July 26th. The information services provider reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.11). Alphabet had a net margin of 25.89% and a return on equity of 28.65%. During the same period last year, the company posted $27.26 earnings per share. On average, sell-side analysts expect that Alphabet Inc. will post 5.22 EPS for the current year.

Alphabet Profile

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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.