Towercrest Capital Management decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 6.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,192 shares of the information services provider’s stock after selling 460 shares during the period. Towercrest Capital Management’s holdings in Alphabet were worth $546,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Spreng Capital Management Inc. boosted its position in shares of Alphabet by 4.0% during the 1st quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock valued at $364,000 after purchasing an additional 5 shares in the last quarter. West Family Investments Inc. boosted its holdings in Alphabet by 0.3% in the first quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock worth $4,878,000 after acquiring an additional 6 shares in the last quarter. Maple Capital Management Inc. boosted its holdings in Alphabet by 2.1% in the first quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock worth $823,000 after acquiring an additional 6 shares in the last quarter. Private Advisory Group LLC boosted its holdings in Alphabet by 1.8% in the first quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock worth $1,115,000 after acquiring an additional 7 shares in the last quarter. Finally, Weik Capital Management boosted its holdings in Alphabet by 0.5% in the first quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock worth $4,264,000 after acquiring an additional 8 shares in the last quarter. Institutional investors own 34.06% of the company’s stock.
Insider Buying and Selling at Alphabet
In other Alphabet news, SVP Prabhakar Raghavan sold 32,379 shares of the firm’s stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $103.46, for a total transaction of $3,349,931.34. Following the sale, the senior vice president now owns 76,580 shares in the company, valued at $7,922,966.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Prabhakar Raghavan sold 32,379 shares of the business’s stock in a transaction dated 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 completion of the sale, the senior vice president now owns 76,580 shares of the company’s stock, valued at approximately $7,922,966.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the stock in a transaction dated Monday, March 13th. The stock was bought at an average cost of $29.29 per share, with a total value of $12,155,350.00. Following the purchase, the insider now owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 732,217 shares of company stock worth $21,135,371 and have sold 601,450 shares worth $28,354,856. Company insiders own 0.88% of the company’s stock.
Alphabet Trading Down 0.1 %
Alphabet (NASDAQ:GOOGL – Get Rating) last released its quarterly earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.11. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. The business had revenue of $69.79 billion for the quarter, compared to the consensus estimate of $57.19 billion. During the same quarter last year, the business posted $1.23 earnings per share. Research analysts forecast that Alphabet Inc. will post 5.41 EPS for the current fiscal year.
Analyst Ratings Changes
Several brokerages have issued reports on GOOGL. Barclays increased their price target on Alphabet from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, February 3rd. Bank of America increased their price objective on Alphabet from $125.00 to $128.00 and gave the stock a “buy” rating in a research note on Wednesday, April 26th. Oppenheimer increased their price objective on Alphabet from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 26th. 1-800-FLOWERS.COM reissued a “downgrade” rating on shares of Alphabet in a research note on Monday, May 15th. Finally, Roth Capital reissued a “buy” rating on shares of Alphabet in a research note on Friday, February 3rd. Four analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $130.06.
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.
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