Resurgent Financial Advisors LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 4.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,183 shares of the information services provider’s stock after selling 1,004 shares during the period. Alphabet accounts for about 1.1% of Resurgent Financial Advisors LLC’s holdings, making the stock its 13th biggest holding. Resurgent Financial Advisors LLC’s holdings in Alphabet were worth $2,045,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently added to or reduced their stakes in the company. VitalStone Financial LLC purchased a new position in Alphabet in the 4th quarter valued at about $25,000. Live Oak Investment Partners purchased a new position in Alphabet in the 4th quarter valued at about $26,000. McElhenny Sheffield Capital Management LLC purchased a new position in Alphabet in the 4th quarter valued at about $33,000. Sanctuary Wealth Management L.L.C. purchased a new position in Alphabet in the 4th quarter valued at about $34,000. Finally, TFO TDC LLC boosted its position in Alphabet by 952.6% in the 3rd quarter. TFO TDC LLC now owns 400 shares of the information services provider’s stock valued at $38,000 after buying an additional 362 shares during the last quarter. 34.06% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $125.65, for a total transaction of $25,130.00. Following the transaction, the director now owns 5,740 shares in the company, valued at approximately $721,231. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $125.65, for a total value of $25,130.00. Following the transaction, the director now directly owns 5,740 shares in the company, valued at approximately $721,231. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 16,031 shares of the firm’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $14.98, for a total transaction of $240,144.38. The disclosure for this sale can be found here. Insiders sold a total of 782,033 shares of company stock worth $28,904,423 in the last quarter. 0.88% of the stock is currently owned by corporate insiders.
Alphabet Trading Down 0.1 %
Alphabet (NASDAQ:GOOGL – Get Rating) last released its earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.11. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. The company had revenue of $69.79 billion during the quarter, compared to the consensus estimate of $57.19 billion. During the same quarter in the prior year, the firm earned $1.23 EPS. On average, research analysts anticipate that Alphabet Inc. will post 5.41 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on GOOGL. JMP Securities restated a “market outperform” rating and issued a $132.00 target price on shares of Alphabet in a research note on Thursday, March 16th. Robert W. Baird upped their target price on shares of Alphabet from $120.00 to $123.00 and gave the company an “outperform” rating in a research note on Wednesday, April 26th. Citigroup upped their target price on shares of Alphabet from $120.00 to $130.00 in a research note on Wednesday, April 26th. Needham & Company LLC restated a “buy” rating and issued a $115.00 target price on shares of Alphabet in a research note on Monday, April 3rd. Finally, 1-800-FLOWERS.COM restated a “downgrade” rating on shares of Alphabet in a research note on Monday, May 15th. Five research analysts have rated the stock with a hold rating, thirty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $129.67.
Alphabet Company Profile
Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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