Zweig DiMenna Associates LLC Has $12.68 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Zweig DiMenna Associates LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 18.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 67,000 shares of the information services provider's stock after selling 14,700 shares during the period. Zweig DiMenna Associates LLC's holdings in Alphabet were worth $12,683,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. LMR Partners LLP acquired a new stake in Alphabet during the 3rd quarter worth about $32,000. Denver PWM LLC lifted its position in Alphabet by 25.4% in the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider's stock worth $47,000 after buying an additional 57 shares in the last quarter. Quarry LP purchased a new stake in Alphabet in the 2nd quarter worth approximately $53,000. Teachers Insurance & Annuity Association of America purchased a new stake in Alphabet in the 3rd quarter worth approximately $66,000. Finally, Mendota Financial Group LLC lifted its position in Alphabet by 19.0% in the 3rd quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider's stock worth $67,000 after buying an additional 64 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on GOOGL. Truist Financial upped their target price on Alphabet from $220.00 to $225.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. Wells Fargo & Company upped their target price on Alphabet from $187.00 to $190.00 and gave the stock an "equal weight" rating in a research report on Monday, January 13th. Royal Bank of Canada increased their price target on shares of Alphabet from $204.00 to $210.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. Phillip Securities raised shares of Alphabet to a "strong-buy" rating in a research note on Friday, November 1st. Finally, Bank of America reissued a "buy" rating and set a $210.00 target price on shares of Alphabet in a research report on Monday, December 23rd. Nine investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $209.82.

Insiders Place Their Bets

In other news, CAO Amie Thuener O'toole sold 2,834 shares of Alphabet stock in a transaction on Monday, December 16th. The stock was sold at an average price of $197.55, for a total value of $559,856.70. Following the completion of the sale, the chief accounting officer now directly owns 20,681 shares of the company's stock, valued at approximately $4,085,531.55. This trade represents a 12.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction on Monday, December 30th. The shares were sold at an average price of $192.62, for a total value of $3,239,868.40. Following the completion of the sale, the insider now directly owns 43,981 shares of the company's stock, valued at $8,471,620.22. This trade represents a 27.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 122,887 shares of company stock valued at $22,470,464. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Price Performance

Alphabet stock traded up $4.38 during trading hours on Thursday, hitting $199.79. 9,551,657 shares of the stock were exchanged, compared to its average volume of 23,832,391. 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 has a market capitalization of $2.45 trillion, a P/E ratio of 26.49, a P/E/G ratio of 1.27 and a beta of 0.98. Alphabet Inc. has a 12 month low of $130.66 and a 12 month high of $202.29. The business's 50-day moving average is $187.53 and its two-hundred day moving average is $173.84.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts' consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the previous year, the firm earned $1.55 earnings per share. Equities research analysts expect that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

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.