Clarendon Private LLC Buys Shares of 6,336 Alphabet Inc. (NASDAQ:GOOGL)

Clarendon Private LLC acquired a new position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,336 shares of the information services provider's stock, valued at approximately $1,199,000. Alphabet makes up about 1.3% of Clarendon Private LLC's investment portfolio, making the stock its 18th largest holding.

A number of other hedge funds have also recently added to or reduced their stakes in GOOGL. Summit Trail Advisors LLC grew its stake in Alphabet by 12.1% during the 2nd quarter. Summit Trail Advisors LLC now owns 147,414 shares of the information services provider's stock valued at $26,852,000 after acquiring an additional 15,940 shares in the last quarter. TPG Advisors LLC purchased a new stake in Alphabet in the 2nd quarter valued at about $563,000. Asset Management Group Inc. lifted its holdings in shares of Alphabet by 13.4% in the 2nd quarter. Asset Management Group Inc. now owns 12,670 shares of the information services provider's stock worth $2,308,000 after acquiring an additional 1,499 shares during the last quarter. Arista Wealth Management LLC purchased a new stake in shares of Alphabet in the 2nd quarter valued at $665,000. Finally, Tcwp LLC lifted its position in shares of Alphabet by 1.7% during the second quarter. Tcwp LLC now owns 4,191 shares of the information services provider's stock worth $763,000 after purchasing an additional 69 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Alphabet

In other news, insider John Kent Walker sold 16,820 shares of the firm's stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the completion of the sale, the insider now owns 43,981 shares of the company's stock, valued at $8,471,620.22. This trade represents a 27.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Amie Thuener O'toole sold 1,367 shares of the business's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the sale, the chief accounting officer now directly owns 23,515 shares of the company's stock, valued at $4,007,191.15. The trade was a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 100,029 shares of company stock valued at $18,462,883. 11.55% of the stock is owned by insiders.

Alphabet Stock Performance

Shares of NASDAQ GOOGL traded down $15.05 during trading hours on Wednesday, reaching $191.33. 70,358,068 shares of the stock were exchanged, compared to its average volume of 27,931,070. 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 stock's fifty day simple moving average is $190.39 and its 200 day simple moving average is $174.40. Alphabet Inc. has a 52 week low of $130.66 and a 52 week high of $207.05. The firm has a market capitalization of $2.34 trillion, a price-to-earnings ratio of 25.38, a P/E/G ratio of 1.31 and a beta of 0.99.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping analysts' consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. Sell-side analysts predict that Alphabet Inc. will post 8.02 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Seaport Res Ptn upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, October 29th. Robert W. Baird reiterated an "outperform" rating and set a $205.00 price target on shares of Alphabet in a research note on Tuesday, December 10th. Pivotal Research boosted their price objective on Alphabet from $215.00 to $225.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Citizens Jmp downgraded shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 2nd. Finally, Truist Financial increased their price target on Alphabet from $220.00 to $225.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Nine research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Alphabet currently has an average rating of "Moderate Buy" and an average target price of $210.95.

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.