McElhenny Sheffield Capital Management LLC acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 383 shares of the information services provider’s stock, valued at approximately $33,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. DC Investments Management LLC bought a new stake in shares of Alphabet in the 1st quarter valued at about $114,000. Bridgefront Capital LLC bought a new stake in shares of Alphabet in the 1st quarter valued at about $225,000. Worth Asset Management LLC bought a new stake in shares of Alphabet in the 1st quarter valued at about $206,000. Eudaimonia Advisors LLC increased its stake in shares of Alphabet by 15.1% in the 1st quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock valued at $275,000 after acquiring an additional 13 shares during the last quarter. Finally, Aspire Capital Advisors LLC bought a new stake in shares of Alphabet in the 1st quarter valued at about $281,000. 34.06% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on GOOGL. Tigress Financial lowered their price target on Alphabet from $186.00 to $160.00 and set a “strong-buy” rating for the company in a research note on Friday, January 6th. Roth Capital reiterated a “buy” rating on shares of Alphabet in a research report on Friday, February 3rd. StockNews.com began coverage on Alphabet in a research report on Thursday, March 16th. They issued a “hold” rating for the company. Bank of America boosted their price objective on Alphabet from $116.00 to $119.00 and gave the company a “buy” rating in a research report on Tuesday, January 31st. Finally, MKM Partners boosted their price objective on Alphabet from $120.00 to $126.00 in a research report on Friday, February 3rd. Four research analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.44.
Alphabet Stock Down 0.4 %
Alphabet (NASDAQ:GOOGL – Get Rating) last posted its quarterly earnings data on Thursday, February 2nd. The information services provider reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.09). The firm had revenue of $76.05 billion for the quarter, compared to the consensus estimate of $63.15 billion. Alphabet had a return on equity of 23.54% and a net margin of 21.20%. During the same quarter in the previous year, the business earned $1.53 EPS. On average, equities analysts anticipate that Alphabet Inc. will post 5.12 earnings per share for the current year.
Insiders Place Their Bets
In other news, SVP Prabhakar Raghavan sold 22,203 shares of the stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the sale, the senior vice president now directly owns 76,579 shares of the company’s stock, valued at approximately $6,872,965.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, SVP Prabhakar Raghavan sold 22,203 shares of the stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the sale, the senior vice president now directly owns 76,579 shares of the company’s stock, valued at approximately $6,872,965.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 855 shares of the stock in a transaction on Wednesday, January 4th. The stock was sold at an average price of $91.15, for a total value of $77,933.25. Following the sale, the chief accounting officer now directly owns 25,122 shares in the company, valued at $2,289,870.30. The disclosure for this sale can be found here. Insiders have sold 74,245 shares of company stock worth $7,174,078 in the last 90 days. Company insiders own 11.44% of the company’s stock.
Alphabet Company Profile
Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.
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