Greenup Street Wealth Management LLC bought a new stake in Alphabet Inc. (NASDAQ:GOOG – Get Rating) during the fourth quarter, HoldingsChannel reports. The firm bought 7,877 shares of the information services provider’s stock, valued at approximately $699,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Financial Advisors Network Inc. boosted its holdings in Alphabet by 4.5% in the first quarter. Financial Advisors Network Inc. now owns 161 shares of the information services provider’s stock worth $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 1st quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock valued at $229,000 after buying an additional 8 shares during the period. West Michigan Advisors LLC boosted its stake in shares of Alphabet by 3.7% in the 1st quarter. West Michigan Advisors LLC now owns 252 shares of the information services provider’s stock worth $704,000 after buying an additional 9 shares during the last quarter. Somerville Kurt F grew its holdings 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 acquiring an additional 11 shares during the period. Finally, Stonebridge Capital Advisors LLC increased its position in 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 acquiring an additional 16 shares during the last quarter. Institutional investors own 28.69% of the company’s stock.
Insider Activity
In related news, insider John Kent Walker sold 11,313 shares of Alphabet stock in a transaction dated Monday, January 23rd. The stock was sold at an average price of $100.00, for a total value of $1,131,300.00. Following the completion of the transaction, the insider now owns 41,970 shares in the company, valued at $4,197,000. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of Alphabet stock in a transaction that occurred on Monday, March 13th. The shares were bought at an average cost of $29.29 per share, with a total value of $12,155,350.00. Following the transaction, the insider now directly owns 1,709,527 shares of the company’s stock, valued at approximately $50,072,045.83. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Kent Walker sold 11,313 shares of the business’s stock in a transaction that occurred on Monday, January 23rd. The shares were sold at an average price of $100.00, for a total value of $1,131,300.00. Following the transaction, the insider now owns 41,970 shares of the company’s stock, valued at approximately $4,197,000. The disclosure for this sale can be found here. In the last three months, insiders have sold 112,192 shares of company stock worth $11,373,417. 12.99% of the stock is currently owned by corporate insiders.
Alphabet Price Performance
Alphabet (NASDAQ:GOOG – Get Rating) last released its quarterly earnings results 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). 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 period in the previous year, the company earned $1.53 EPS. Alphabet’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, research analysts expect that Alphabet Inc. will post 5.11 EPS for the current fiscal year.
Analyst Ratings Changes
Several research analysts have issued reports on GOOG shares. UBS Group raised their target price on Alphabet from $120.00 to $123.00 and gave the stock a “buy” rating in a research report on Thursday. Jefferies Financial Group set a $125.00 target price on shares of Alphabet in a research report on Friday, February 3rd. Raymond James increased their price target on shares of Alphabet from $116.00 to $119.00 and gave the stock an “outperform” rating in a research report on Friday, February 3rd. JPMorgan Chase & Co. set a $118.00 price objective on shares of Alphabet in a research report on Thursday, February 9th. Finally, Bank of America raised their target price on Alphabet from $116.00 to $119.00 and gave the stock a “buy” rating in a report on Tuesday, January 31st. One research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $135.24.
About Alphabet
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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