Capital Investment Advisors LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 2.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 24,631 shares of the information services provider’s stock after selling 541 shares during the quarter. Capital Investment Advisors LLC’s holdings in Alphabet were worth $2,562,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of GOOG. Financial Advisors Network Inc. raised its position in shares of Alphabet by 4.5% during the first quarter. Financial Advisors Network Inc. now owns 161 shares of the information services provider’s stock worth $450,000 after acquiring an additional 7 shares during the last quarter. Turim 21 Investimentos Ltda. raised its position in shares of Alphabet by 10.8% during the first quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock worth $229,000 after acquiring an additional 8 shares during the last quarter. West Michigan Advisors LLC raised its position in shares of Alphabet by 3.7% during the first quarter. West Michigan Advisors LLC now owns 252 shares of the information services provider’s stock worth $704,000 after acquiring an additional 9 shares during the last quarter. Somerville Kurt F raised its position in shares of Alphabet by 10.3% during the first quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock worth $330,000 after acquiring an additional 11 shares during the last quarter. Finally, Stonebridge Capital Advisors LLC increased its holdings in Alphabet by 1.4% in the first quarter. Stonebridge Capital Advisors LLC now owns 1,182 shares of the information services provider’s stock worth $3,301,000 after purchasing an additional 16 shares in the last quarter. 27.17% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of brokerages have weighed in on GOOG. UBS Group lifted their target price on Alphabet from $120.00 to $123.00 and gave the stock a “buy” rating in a report on Thursday, April 6th. Robert W. Baird lifted their target price on Alphabet from $120.00 to $123.00 in a report on Wednesday, April 26th. Raymond James lifted their target price on Alphabet from $119.00 to $130.00 in a report on Wednesday, April 26th. Deutsche Bank Aktiengesellschaft lifted their target price on Alphabet from $120.00 to $125.00 in a report on Wednesday, April 26th. Finally, Oppenheimer lowered their target price on Alphabet from $155.00 to $135.00 in a report on Monday, April 24th. One analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.80.
Alphabet Trading Down 0.2 %
Alphabet (NASDAQ:GOOG – Get Rating) last announced its quarterly earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $68.80 billion. During the same quarter in the prior year, the company posted $1.23 earnings per share. Alphabet’s revenue was up 2.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Alphabet Inc. will post 5.41 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of the company’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $14.13, for a total transaction of $1,423,908.36. Following the completion of the sale, the insider now owns 11,421,476 shares in the company, valued at $161,385,455.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Alphabet news, insider John Kent Walker sold 29,006 shares of the company’s stock in a transaction 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 owns 24,277 shares in the company, valued at approximately $2,472,369.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of the company’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $14.13, for a total value of $1,423,908.36. Following the completion of the transaction, the insider now owns 11,421,476 shares of the company’s stock, valued at approximately $161,385,455.88. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 839,959 shares of company stock worth $29,807,816. 12.99% of the stock is owned by corporate insiders.
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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