Latitude Advisors LLC reduced its position in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 4.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,048 shares of the information services provider’s stock after selling 221 shares during the quarter. Latitude Advisors LLC’s holdings in Alphabet were worth $448,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Totem Point Management LLC lifted its holdings in 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 acquiring an additional 571 shares during the last quarter. Somerville Kurt F increased its stake 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 acquiring an additional 11 shares during the period. BCK Partners Inc. acquired a new position in shares of Alphabet in the 1st quarter worth approximately $2,564,000. Hall Capital Management Co. Inc. raised its holdings in Alphabet by 53.2% during the 1st quarter. Hall Capital Management Co. Inc. now owns 144 shares of the information services provider’s stock worth $402,000 after buying an additional 50 shares during the period. Finally, Fairfield Bush & CO. boosted its holdings 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 buying an additional 214 shares during the period. 28.69% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on GOOG shares. Royal Bank of Canada set a $130.00 price objective on Alphabet in a research report on Friday, February 3rd. Jefferies Financial Group set a $125.00 price target on shares of Alphabet in a research note on Friday, February 3rd. Raymond James upped their price objective on shares of Alphabet from $116.00 to $119.00 and gave the stock an “outperform” rating in a report on Friday, February 3rd. Roth Capital reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday, February 3rd. Finally, Bank of America boosted their target price on shares of Alphabet from $116.00 to $119.00 and gave the stock a “buy” rating in a research report on Tuesday, January 31st. One investment analyst has rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $135.24.
Alphabet Trading Down 1.8 %
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 the consensus estimate of $1.14 by ($0.09). Alphabet had a return on equity of 23.54% and a net margin of 21.20%. 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 firm posted $1.53 EPS. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. As a group, analysts expect that Alphabet Inc. will post 5.11 EPS for the current year.
Insider Activity
In related news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of Alphabet stock in a transaction on Monday, March 13th. The shares were acquired at an average cost of $29.29 per share, with a total value of $12,155,350.00. Following the transaction, the insider now owns 1,709,527 shares in the company, valued at $50,072,045.83. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the business’s stock in a transaction dated Monday, March 13th. The shares were purchased at an average cost of $29.29 per share, with a total value of $12,155,350.00. Following the completion of the purchase, the insider now owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 37,500 shares of Alphabet stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $100.00, for a total value of $3,750,000.00. Following the completion of the sale, the director now directly owns 144,740 shares of the company’s stock, valued at approximately $14,474,000. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 112,192 shares of company stock valued at $11,373,417. 12.99% of the stock is currently owned by company insiders.
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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