Crossmark Global Holdings Inc. reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 343,377 shares of the information services provider’s stock after selling 3,444 shares during the period. Alphabet comprises 0.8% of Crossmark Global Holdings Inc.’s investment portfolio, making the stock its 14th biggest position. Crossmark Global Holdings Inc.’s holdings in Alphabet were worth $30,296,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. IAG Wealth Partners LLC boosted its holdings in Alphabet by 3,275.0% in the 3rd quarter. IAG Wealth Partners LLC now owns 270 shares of the information services provider’s stock worth $26,000 after buying an additional 262 shares during the period. Artemis Wealth Advisors LLC boosted its holdings in Alphabet by 1,900.0% in the 3rd quarter. Artemis Wealth Advisors LLC now owns 280 shares of the information services provider’s stock worth $27,000 after buying an additional 266 shares during the period. Laurel Wealth Planning LLC boosted its holdings in Alphabet by 1,900.0% in the 3rd quarter. Laurel Wealth Planning LLC now owns 300 shares of the information services provider’s stock worth $29,000 after buying an additional 285 shares during the period. Coston McIsaac & Partners boosted its holdings in Alphabet by 1,900.0% in the 3rd quarter. Coston McIsaac & Partners now owns 320 shares of the information services provider’s stock worth $30,000 after buying an additional 304 shares during the period. Finally, Horizons Wealth Management bought a new position in Alphabet in the 2nd quarter worth approximately $33,000. 34.06% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several research firms recently commented on GOOGL. Loop Capital raised their price objective on shares of Alphabet from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, February 8th. Needham & Company LLC reissued a “buy” rating and issued a $115.00 price target on shares of Alphabet in a report on Wednesday, March 8th. JMP Securities reissued a “market outperform” rating and issued a $132.00 price target on shares of Alphabet in a report on Thursday, March 16th. KeyCorp cut their price target on shares of Alphabet from $118.00 to $117.00 and set an “overweight” rating for the company in a report on Monday, January 30th. Finally, Truist Financial cut their price target on shares of Alphabet from $130.00 to $120.00 and set a “buy” rating for the company in a report on Friday, February 3rd. Four equities research analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $131.83.
Alphabet Price Performance
Alphabet (NASDAQ:GOOGL – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The information services provider reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). The firm had revenue of $76.05 billion during the quarter, compared to analysts’ expectations of $63.15 billion. Alphabet had a net margin of 21.20% and a return on equity of 23.54%. During the same quarter in the previous year, the firm posted $1.53 EPS. As a group, equities analysts predict that Alphabet Inc. will post 5.12 earnings per share for the current year.
Insider Activity
In other news, SVP Prabhakar Raghavan sold 22,203 shares of Alphabet stock in a transaction dated Tuesday, January 3rd. The shares were 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 owns 76,579 shares of the company’s stock, valued at approximately $6,872,965.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 22,203 shares of the company’s stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $89.75, for a total value of $1,992,719.25. Following the sale, the senior vice president now owns 76,579 shares in the company, valued at $6,872,965.25. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the business’s stock in a transaction on Monday, March 13th. The stock was acquired at an average price of $29.29 per share, for a total transaction of $12,155,350.00. Following the acquisition, the insider now owns 1,709,527 shares of the company’s stock, valued at approximately $50,072,045.83. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 73,865 shares of company stock valued at $7,140,167. Corporate 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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