Capital Financial Services LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 1,900.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,460 shares of the information services provider’s stock after buying an additional 7,087 shares during the quarter. Capital Financial Services LLC’s holdings in Alphabet were worth $717,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of the company. Financial Advisors Network Inc. lifted its holdings in shares of Alphabet by 4.5% during the first quarter. Financial Advisors Network Inc. now owns 161 shares of the information services provider’s stock valued at $450,000 after purchasing an additional 7 shares during the last quarter. Turim 21 Investimentos Ltda. lifted its holdings in shares of Alphabet by 10.8% during the first quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock valued at $229,000 after purchasing an additional 8 shares during the last quarter. West Michigan Advisors LLC lifted its holdings in shares of Alphabet by 3.7% during the first quarter. West Michigan Advisors LLC now owns 252 shares of the information services provider’s stock valued at $704,000 after purchasing an additional 9 shares during the last quarter. Somerville Kurt F lifted its holdings in shares of Alphabet by 10.3% during the first quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock valued at $330,000 after purchasing an additional 11 shares during the last quarter. Finally, Stonebridge Capital Advisors LLC lifted its holdings in shares of Alphabet by 1.4% during the first quarter. Stonebridge Capital Advisors LLC now owns 1,182 shares of the information services provider’s stock valued at $3,301,000 after purchasing an additional 16 shares during the last quarter. Institutional investors own 28.69% of the company’s stock.
Wall Street Analyst Weigh In
GOOG has been the subject of several analyst reports. Piper Sandler reduced their target price on Alphabet from $122.00 to $120.00 and set an “overweight” rating for the company in a report on Friday, February 3rd. Sanford C. Bernstein set a $130.00 target price on Alphabet in a report on Monday, February 6th. Cowen reduced their target price on Alphabet from $150.00 to $135.00 and set an “outperform” rating for the company in a report on Wednesday, October 26th. Cowen reduced their price objective on Alphabet from $135.00 to $125.00 and set an “outperform” rating for the company in a research note on Wednesday, January 11th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Alphabet from $135.00 to $130.00 and set a “buy” rating for the company in a research note on Friday, October 21st. One equities research analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $137.13.
Alphabet Stock Performance
Alphabet (NASDAQ:GOOG – Get Rating) last issued its quarterly earnings data on Thursday, February 2nd. The information services provider reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). The company had revenue of $76.05 billion for the quarter, compared to analyst estimates of $76.49 billion. Alphabet had a net margin of 21.20% and a return on equity of 23.54%. The business’s revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.53 EPS. Analysts predict that Alphabet Inc. will post 5.1 earnings per share for the current fiscal year.
Insider Activity
In other news, CAO Amie Thuener O’toole sold 855 shares of the stock in a transaction dated Thursday, December 1st. The stock was sold at an average price of $101.13, for a total transaction of $86,466.15. Following the transaction, the chief accounting officer now owns 24,908 shares of the company’s stock, valued at approximately $2,518,946.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Alphabet news, Director Ann Mather sold 340 shares of the firm’s stock in a transaction that occurred on Wednesday, January 25th. The stock was sold at an average price of $96.92, for a total value of $32,952.80. Following the sale, the director now owns 11,300 shares of the company’s stock, valued at approximately $1,095,196. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 855 shares of the firm’s stock in a transaction that occurred on Thursday, December 1st. The shares were sold at an average price of $101.13, for a total value of $86,466.15. Following the completion of the sale, the chief accounting officer now directly owns 24,908 shares in the company, valued at approximately $2,518,946.04. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,943 shares of company stock valued at $3,454,353. Insiders own 12.99% of the company’s stock.
About Alphabet
Alphabet, Inc is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube.
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