HBC Financial Services PLLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 24.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 790 shares of the information services provider’s stock after selling 250 shares during the quarter. HBC Financial Services PLLC’s holdings in Alphabet were worth $70,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Totem Point Management LLC grew its stake in shares of Alphabet by 22.0% in the first quarter. Totem Point Management LLC now owns 3,171 shares of the information services provider’s stock worth $8,857,000 after purchasing an additional 571 shares during the last quarter. Somerville Kurt F grew its stake in shares of Alphabet by 10.3% in the first quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock worth $330,000 after purchasing an additional 11 shares during the last quarter. BCK Partners Inc. bought a new stake in shares of Alphabet in the first quarter worth about $2,564,000. Hall Capital Management Co. Inc. grew its stake in shares of Alphabet by 53.2% in the first quarter. Hall Capital Management Co. Inc. now owns 144 shares of the information services provider’s stock worth $402,000 after purchasing an additional 50 shares during the last quarter. Finally, Fairfield Bush & CO. grew its stake in shares of Alphabet by 6.8% in the first quarter. Fairfield Bush & CO. now owns 3,370 shares of the information services provider’s stock worth $9,412,000 after purchasing an additional 214 shares during the last quarter. 28.69% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several analysts recently issued reports on the company. Sanford C. Bernstein set a $130.00 target price on Alphabet in a research note on Monday, February 6th. Royal Bank of Canada set a $130.00 target price on Alphabet in a research note on Friday, February 3rd. Societe Generale cut their price objective on Alphabet from $147.00 to $132.00 and set a “buy” rating on the stock in a research report on Wednesday, November 30th. Roth Capital reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday, February 3rd. Finally, Cowen cut their price objective on Alphabet from $135.00 to $125.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 11th. One investment analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $135.11.
Alphabet Price Performance
Alphabet (NASDAQ:GOOG – Get Rating) last released its earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.09). Alphabet had a net margin of 21.20% and a return on equity of 23.54%. The business had revenue of $76.05 billion for the quarter, compared to analysts’ expectations of $76.49 billion. During the same quarter in the previous year, the business posted $1.53 earnings per share. Alphabet’s revenue for the quarter was up 1.0% on a year-over-year basis. Equities research analysts forecast that Alphabet Inc. will post 5.12 EPS for the current fiscal year.
Insider Buying and Selling
In related news, CAO Amie Thuener O’toole sold 855 shares of the business’s stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total value of $77,933.25. Following the completion of the transaction, the chief accounting officer now directly owns 25,122 shares in the company, valued at approximately $2,289,870.30. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CAO Amie Thuener O’toole sold 855 shares of the business’s stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total value of $77,933.25. Following the completion of the transaction, the chief accounting officer now directly owns 25,122 shares in the company, valued at approximately $2,289,870.30. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Prabhakar Raghavan sold 22,203 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 76,579 shares of the company’s stock, valued at $6,872,965.25. The disclosure for this sale can be found here. Insiders sold a total of 74,245 shares of company stock worth $7,174,078 in the last three months. Insiders own 12.99% 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.
Featured Articles
- Get a free copy of the StockNews.com research report on Alphabet (GOOG)
- These Bitcoin Stocks Have the Most Upside
- MarketBeat Week in Review – 3/20 – 3/24
- Dividend King Genuine Parts Company Upgraded On Profit Guidance
- The Bottom Is In For Accenture
- 11 Best Consumer Discretionary Stocks of 2023
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.
