Addison Advisors LLC trimmed its holdings in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 24.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,316 shares of the information services provider’s stock after selling 1,097 shares during the period. Addison Advisors LLC’s holdings in Alphabet were worth $293,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Bornite Capital Management LP purchased a new position in shares of Alphabet during the first quarter valued at about $16,688,000. Markel Corp increased its position in shares of Alphabet by 17.0% during the first quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock valued at $43,110,000 after acquiring an additional 2,250 shares in the last quarter. United Bank boosted its holdings in Alphabet by 5.9% in the first quarter. United Bank now owns 2,033 shares of the information services provider’s stock worth $5,654,000 after purchasing an additional 113 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Alphabet by 23.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock worth $900,929,000 after purchasing an additional 61,427 shares during the last quarter. Finally, Dakota Wealth Management boosted its stake in shares of Alphabet by 20.4% during the 1st quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock worth $25,806,000 after acquiring an additional 1,570 shares during the last quarter. 34.06% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at Alphabet
In other Alphabet news, Director Ann Mather sold 380 shares of Alphabet stock in a transaction on Monday, February 27th. The shares were sold at an average price of $90.05, for a total value of $34,219.00. Following the completion of the transaction, the director now owns 11,300 shares of the company’s stock, valued at $1,017,565. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Ann Mather sold 380 shares of the company’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $90.05, for a total value of $34,219.00. Following the completion of the sale, the director now owns 11,300 shares of the company’s stock, valued at $1,017,565. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 637 shares of the company’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $90.15, for a total transaction of $57,425.55. Following the completion of the sale, the chief accounting officer now directly owns 25,442 shares of the company’s stock, valued at $2,293,596.30. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 732,217 shares of company stock valued at $21,135,371 and sold 238,811 shares valued at $15,576,939. 11.44% of the stock is owned by corporate insiders.
Alphabet Price Performance
Alphabet (NASDAQ:GOOGL – Get Rating) last announced its quarterly earnings data on Tuesday, April 25th. The information services provider reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.11. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. The business had revenue of $69.79 billion for the quarter, compared to analyst estimates of $57.19 billion. During the same period in the prior year, the firm posted $1.23 EPS. Equities analysts predict that Alphabet Inc. will post 5.39 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on GOOGL shares. KeyCorp lowered their target price on shares of Alphabet from $118.00 to $117.00 and set an “overweight” rating on the stock in a research note on Monday, January 30th. Wells Fargo & Company lifted their price target on shares of Alphabet from $145.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, February 3rd. Roth Capital reissued a “buy” rating on shares of Alphabet in a research report on Friday, February 3rd. Roth Mkm boosted their price objective on shares of Alphabet from $126.00 to $134.00 and gave the stock a “buy” rating in a research note on Wednesday, April 26th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $115.00 price objective on shares of Alphabet in a research note on Monday, April 3rd. Three analysts have rated the stock with a hold rating, thirty-five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $130.06.
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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