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Calamos Wealth Management LLC Boosts Position in Alphabet Inc. (NASDAQ:GOOGL)

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Calamos Wealth Management LLC boosted its position in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 2.6% during the 1st quarter, Holdings Channel.com reports. The fund owned 13,818 shares of the information services provider’s stock after buying an additional 356 shares during the quarter. Alphabet comprises 2.9% of Calamos Wealth Management LLC’s investment portfolio, making the stock its 4th largest holding. Calamos Wealth Management LLC’s holdings in Alphabet were worth $38,433,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its holdings in Alphabet by 6.1% during the fourth quarter. International Assets Investment Management LLC now owns 3,356 shares of the information services provider’s stock worth $9,717,000 after buying an additional 192 shares during the last quarter. LSV Asset Management boosted its holdings in Alphabet by 1.4% during the fourth quarter. LSV Asset Management now owns 720 shares of the information services provider’s stock worth $2,086,000 after buying an additional 10 shares during the last quarter. Graybill Bartz & Assoc Ltd. boosted its holdings in Alphabet by 0.6% during the fourth quarter. Graybill Bartz & Assoc Ltd. now owns 3,144 shares of the information services provider’s stock worth $9,107,000 after buying an additional 20 shares during the last quarter. National Asset Management Inc. boosted its holdings in Alphabet by 1.2% during the fourth quarter. National Asset Management Inc. now owns 13,493 shares of the information services provider’s stock worth $38,223,000 after buying an additional 166 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in Alphabet during the fourth quarter worth about $1,680,864,000. Institutional investors own 41.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on GOOGL shares. KeyCorp reduced their target price on Alphabet from $153.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, July 26th. Bank of America cut their price objective on Alphabet from $132.00 to $125.00 and set a “buy” rating on the stock in a report on Wednesday. Wolfe Research cut their price objective on Alphabet from $175.00 to $145.00 and set an “outperform” rating on the stock in a report on Wednesday, April 27th. MKM Partners cut their price objective on Alphabet from $165.00 to $140.00 and set a “buy” rating on the stock in a report on Monday, July 18th. Finally, Guggenheim cut their price objective on Alphabet to $130.00 and set an “outperform” rating on the stock in a report on Wednesday. Five investment analysts have rated the stock with a hold rating, thirty-three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $147.29.

Alphabet Stock Performance

GOOGL opened at $116.32 on Friday. The business has a fifty day simple moving average of $154.46 and a 200 day simple moving average of $138.72. The company has a market capitalization of $1.53 trillion, a PE ratio of 21.04, a price-to-earnings-growth ratio of 1.12 and a beta of 1.10. 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 2.87 and a quick ratio of 2.85.

Alphabet (NASDAQ:GOOGLGet Rating) last released its quarterly earnings results on Tuesday, July 26th. The information services provider reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.11). Alphabet had a net margin of 27.57% and a return on equity of 30.18%. During the same period in the prior year, the company earned $27.26 earnings per share. Research analysts expect that Alphabet Inc. will post 5.37 EPS for the current year.

Insider Activity at Alphabet

In related news, SVP Prabhakar Raghavan sold 490 shares of the business’s stock in a transaction on Tuesday, May 3rd. The stock was sold at an average price of $2,335.30, for a total value of $1,144,297.00. Following the completion of the sale, the senior vice president now directly owns 497 shares in the company, valued at approximately $1,160,644.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Prabhakar Raghavan sold 490 shares of the company’s stock in a transaction on Tuesday, May 3rd. The stock was sold at an average price of $2,335.30, for a total transaction of $1,144,297.00. Following the completion of the sale, the senior vice president now directly owns 497 shares in the company, valued at approximately $1,160,644.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 42 shares of the company’s stock in a transaction on Tuesday, May 3rd. The shares were sold at an average price of $2,335.30, for a total value of $98,082.60. Following the sale, the chief accounting officer now owns 1,170 shares of the company’s stock, valued at $2,732,301. The disclosure for this sale can be found here. Insiders sold 7,269 shares of company stock worth $12,792,226 in the last ninety days. 11.44% of the stock is owned by company insiders.

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.

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