Cardano Risk Management B.V. Acquires Alphabet Inc. (GOOGL) Shares
Cardano Risk Management B.V. recently increased its stake in Alphabet Inc. by 1.1% during the third quarter, buying an additional 15,724 shares of the company’s stock. This brings their total number of shares to 1,511,083, making Alphabet their 6th largest position at approximately 4.4% of their portfolio. The total value of their stake now stands at $250,613,000, according to their most recent filing with the SEC.
In addition to Cardano Risk Management B.V., other institutional investors and hedge funds have also been adjusting their positions in Alphabet. Obsidian Personal Planning Solutions LLC raised its position by 4.4%, Concord Asset Management LLC VA grew its stake by 19.8%, Peterson Financial Group Inc. acquired a new position, Mechanics Financial Corp increased its position by 1.4%, and Atlanta Consulting Group Advisors LLC lifted its stake by 139.1% in the third quarter. Overall, 40.03% of Alphabet’s stock is owned by hedge funds and other institutional investors.
Financial analysts have recently shared their insights on Alphabet, with some upgrading their price targets on the stock. These include Pivotal Research, whose price target was raised to $225.00, and Royal Bank of Canada, which raised their target price to $210.00. In total, seven analysts have rated the stock as a hold, thirty-one as a buy, and five as a strong buy, with the current consensus target price at $205.90.
Insider activity has also been notable, with insider John Kent Walker and Director Kavitark Ram Shriram both selling shares of Alphabet in recent transactions. During these transactions, Walker sold 21,467 shares at an average price of $160.35, while Shriram sold 10,500 shares at an average price of $180.78. Overall, insiders have sold 206,795 shares of company stock over the last quarter, amounting to $34,673,866 in total sales.
As of Monday, Alphabet’s stock opened at $168.95, with a market cap of $2.07 trillion and a price-to-earnings ratio of 22.41. The company’s 50-day and 200-day simple moving averages are $168.47 and $170.31, respectively. It’s worth noting that Alphabet’s stock has a 52-week range from $127.90 to $191.75. The company’s most recent quarterly earnings report, released on October 29th, revealed earnings per share of $2.12, exceeding expectations.
