Venturi Wealth Management LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 2.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,658 shares of the information services provider’s stock after purchasing an additional 117 shares during the period. Venturi Wealth Management LLC’s holdings in Alphabet were worth $502,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Totem Point Management LLC raised its stake in Alphabet by 22.0% in the 1st quarter. Totem Point Management LLC now owns 3,171 shares of the information services provider’s stock valued at $8,857,000 after acquiring an additional 571 shares during the period. Somerville Kurt F increased its position in Alphabet by 10.3% during the 1st quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock worth $330,000 after buying an additional 11 shares during the period. BCK Partners Inc. bought a new position in Alphabet during the 1st quarter worth $2,564,000. Hall Capital Management Co. Inc. increased its position 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. increased its position in Alphabet by 6.8% during the 1st 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. Institutional investors own 28.69% of the company’s stock.
Insider Buying and Selling
In related news, SVP Prabhakar Raghavan sold 32,379 shares of Alphabet stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $103.46, for a total value of $3,349,931.34. Following the transaction, the senior vice president now directly owns 76,580 shares of the company’s stock, valued at $7,922,966.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, SVP Prabhakar Raghavan sold 32,379 shares of Alphabet stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $103.46, for a total value of $3,349,931.34. Following the transaction, the senior vice president now directly owns 76,580 shares of the company’s stock, valued at $7,922,966.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider John Kent Walker sold 29,006 shares of Alphabet stock in a transaction that occurred on Wednesday, March 29th. The stock was sold at an average price of $101.84, for a total value of $2,953,971.04. Following the completion of the transaction, the insider now directly owns 24,277 shares in the company, valued at $2,472,369.68. The disclosure for this sale can be found here. Insiders have sold a total of 112,192 shares of company stock valued at $11,373,417 over the last ninety days. 12.99% of the stock is owned by company insiders.
Alphabet Stock 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 for the quarter, missing the consensus estimate of $1.14 by ($0.09). The firm had revenue of $76.05 billion for the quarter, compared to the consensus estimate of $76.49 billion. Alphabet had a return on equity of 23.54% and a net margin of 21.20%. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.53 earnings per share. Equities research analysts anticipate that Alphabet Inc. will post 5.11 earnings per share for the current year.
Analysts Set New Price Targets
GOOG has been the topic of several recent research reports. Bank of America increased their price objective on Alphabet from $116.00 to $119.00 and gave the stock a “buy” rating in a research report on Tuesday, January 31st. The Goldman Sachs Group set a $128.00 price objective on Alphabet in a research report on Friday, February 3rd. UBS Group increased their price objective on Alphabet from $120.00 to $123.00 and gave the stock a “buy” rating in a research report on Thursday, April 6th. Jefferies Financial Group set a $125.00 target price on Alphabet in a report on Friday, February 3rd. Finally, Piper Sandler reduced their target price on Alphabet from $122.00 to $120.00 and set an “overweight” rating on the stock in a report on Friday, February 3rd. 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.com, the company currently has a consensus rating of “Moderate Buy” and an average target price 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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