Hemington Wealth Management increased its position in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 15.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,087 shares of the information services provider’s stock after buying an additional 953 shares during the period. Hemington Wealth Management’s holdings in Alphabet were worth $628,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. OLD Second National Bank of Aurora boosted its stake in shares of Alphabet by 1,900.0% during the 3rd quarter. OLD Second National Bank of Aurora now owns 260 shares of the information services provider’s stock worth $25,000 after acquiring an additional 247 shares in the last quarter. Westchester Capital Management Inc. lifted its holdings in Alphabet by 1,900.0% in the 3rd quarter. Westchester Capital Management Inc. now owns 260 shares of the information services provider’s stock worth $25,000 after purchasing an additional 247 shares during the last quarter. Carolina Wealth Advisors LLC lifted its holdings in Alphabet by 1,900.0% in the 3rd quarter. Carolina Wealth Advisors LLC now owns 300 shares of the information services provider’s stock worth $29,000 after purchasing an additional 285 shares during the last quarter. Saban Cheryl boosted its position in Alphabet by 1,900.0% during the third quarter. Saban Cheryl now owns 200 shares of the information services provider’s stock worth $29,000 after purchasing an additional 190 shares during the period. Finally, Gould Capital LLC grew its holdings in Alphabet by 2,150.0% during the third quarter. Gould Capital LLC now owns 315 shares of the information services provider’s stock valued at $30,000 after purchasing an additional 301 shares during the last quarter. Institutional investors own 28.69% of the company’s stock.
Analyst Upgrades and Downgrades
GOOG has been the subject of a number of analyst reports. Raymond James boosted their price objective on shares of Alphabet from $116.00 to $119.00 and gave the stock an “outperform” rating in a research note on Friday, February 3rd. Royal Bank of Canada set a $130.00 price target on shares of Alphabet in a report on Friday, February 3rd. Oppenheimer raised their price target on Alphabet from $130.00 to $155.00 and gave the company an “outperform” rating in a research report on Friday, February 3rd. The Goldman Sachs Group set a $128.00 price objective on Alphabet in a research report on Friday, February 3rd. Finally, Bank of America raised their target price on Alphabet from $116.00 to $119.00 and gave the company 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. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $135.24.
Alphabet Stock Up 2.8 %
Alphabet (NASDAQ:GOOG – Get Rating) last posted its earnings results 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 company had revenue of $76.05 billion for the quarter, compared to the consensus estimate of $76.49 billion. During the same quarter last year, the business earned $1.53 EPS. Alphabet’s quarterly revenue was up 1.0% compared to the same quarter last year. Equities analysts predict that Alphabet Inc. will post 5.11 EPS for the current fiscal year.
Insider Activity
In related news, insider John Kent Walker sold 11,313 shares of the stock in a transaction dated Monday, January 23rd. The shares were sold at an average price of $100.00, for a total transaction of $1,131,300.00. Following the completion of the sale, the insider now owns 41,970 shares in the company, valued at approximately $4,197,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider John Kent Walker sold 11,313 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 41,970 shares of the company’s stock, valued at approximately $4,197,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ann Mather sold 340 shares of the firm’s stock in a transaction on Wednesday, January 25th. The shares were sold at an average price of $96.92, for a total value of $32,952.80. Following the sale, the director now directly owns 11,300 shares of the company’s stock, valued at $1,095,196. The disclosure for this sale can be found here. In the last quarter, insiders have sold 112,192 shares of company stock worth $11,373,417. Corporate insiders own 12.99% of the company’s stock.
Alphabet 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.
Read More
- Get a free copy of the StockNews.com research report on Alphabet (GOOG)
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