Hyperion Partners LLC bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 2,063 shares of the information services provider’s stock, valued at approximately $215,000.
Other institutional investors have also added to or reduced their stakes in the company. Totem Point Management LLC increased its holdings 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 worth $8,857,000 after acquiring an additional 571 shares in the last quarter. Somerville Kurt F increased its stake in shares of Alphabet by 10.3% in the first quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock worth $330,000 after purchasing an additional 11 shares in the last quarter. BCK Partners Inc. purchased a new position in shares of Alphabet during the 1st quarter valued at $2,564,000. Hall Capital Management Co. Inc. boosted its holdings in Alphabet by 53.2% in 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 stake in Alphabet by 6.8% in 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 in the last quarter. 27.17% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of research firms have recently weighed in on GOOG. Robert W. Baird upped their price objective on Alphabet from $120.00 to $123.00 in a research note on Wednesday, April 26th. Oppenheimer cut their price objective on shares of Alphabet from $155.00 to $135.00 in a report on Monday, April 24th. Raymond James boosted their target price on shares of Alphabet from $119.00 to $130.00 in a report on Wednesday, April 26th. UBS Group raised their target price on shares of Alphabet from $120.00 to $123.00 and gave the company a “buy” rating in a research note on Thursday, April 6th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Alphabet from $120.00 to $125.00 in a research note on Wednesday, April 26th. One equities research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $132.80.
Alphabet Stock Up 2.2 %
Alphabet (NASDAQ:GOOG – Get Rating) last posted its quarterly earnings data on Tuesday, April 25th. The information services provider reported $1.17 earnings per share (EPS) 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 company had revenue of $69.79 billion during the quarter, compared to analysts’ expectations of $68.80 billion. During the same quarter in the previous year, the business earned $1.23 EPS. Alphabet’s revenue was up 2.6% compared to the same quarter last year. On average, equities analysts predict that Alphabet Inc. will post 5.41 EPS for the current year.
Insider Buying and Selling
In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 37,405 shares of the business’s stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $15.06, for a total value of $563,319.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 37,405 shares of the firm’s stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $15.06, for a total transaction of $563,319.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder 2021 Gp L.L.C. Gv bought 7,286 shares of the stock in a transaction on Friday, May 5th. The stock was purchased at an average price of $26.98 per share, with a total value of $196,576.28. Following the completion of the acquisition, the insider now directly owns 2,647,312 shares in the company, valued at approximately $71,424,477.76. The disclosure for this purchase can be found here. Insiders have sold 877,364 shares of company stock valued at $30,371,135 in the last 90 days. Company insiders own 12.99% of the company’s stock.
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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