Brave Asset Management Inc. raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 14.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,021 shares of the information services provider’s stock after purchasing an additional 8,269 shares during the period. Alphabet accounts for 2.2% of Brave Asset Management Inc.’s holdings, making the stock its 11th biggest position. Brave Asset Management Inc.’s holdings in Alphabet were worth $6,866,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in GOOG. Westchester Capital Management Inc. lifted its holdings in Alphabet by 1,900.0% during the third quarter. Westchester Capital Management Inc. now owns 260 shares of the information services provider’s stock valued at $25,000 after purchasing an additional 247 shares in the last quarter. Corrado Advisors LLC acquired a new stake in shares of Alphabet in the fourth quarter valued at about $27,000. Gould Capital LLC raised its position in shares of Alphabet by 2,150.0% in the third quarter. Gould Capital LLC now owns 315 shares of the information services provider’s stock valued at $30,000 after buying an additional 301 shares during the last quarter. Essex Investment Management Co. LLC raised its position in shares of Alphabet by 1,900.0% in the third quarter. Essex Investment Management Co. LLC now owns 320 shares of the information services provider’s stock valued at $31,000 after buying an additional 304 shares during the last quarter. Finally, My Personal CFO LLC acquired a new stake in shares of Alphabet in the fourth quarter valued at about $34,000. 27.17% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In other news, SVP Prabhakar Raghavan sold 32,379 shares of the firm’s stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $103.46, for a total value of $3,349,931.34. Following the completion of the transaction, the senior vice president now owns 76,580 shares of the company’s stock, valued at $7,922,966.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider John Kent Walker sold 29,006 shares of the firm’s stock in a transaction that occurred on Wednesday, March 29th. The shares were 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 of the company’s stock, valued at $2,472,369.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Prabhakar Raghavan sold 32,379 shares of Alphabet stock in a transaction that occurred on 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 completion of the transaction, the senior vice president now owns 76,580 shares of the company’s stock, valued at approximately $7,922,966.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 877,364 shares of company stock valued at $30,371,135. 12.99% of the stock is currently owned by company insiders.
Alphabet Trading Down 0.7 %
Alphabet (NASDAQ:GOOG – Get Rating) last announced its earnings results 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 company had revenue of $69.79 billion during the quarter, compared to analyst estimates of $68.80 billion. During the same quarter last year, the firm posted $1.23 earnings per share. Alphabet’s revenue was up 2.6% compared to the same quarter last year. On average, analysts predict that Alphabet Inc. will post 5.41 EPS for the current year.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on GOOG shares. Deutsche Bank Aktiengesellschaft increased their target price on shares of Alphabet from $120.00 to $125.00 in a research report on Wednesday, April 26th. UBS Group increased their target price on shares of Alphabet from $120.00 to $123.00 and gave the company a “buy” rating in a research report on Thursday, April 6th. Robert W. Baird increased their target price on shares of Alphabet from $120.00 to $123.00 in a research report on Wednesday, April 26th. Oppenheimer cut their price objective on shares of Alphabet from $155.00 to $135.00 in a research report on Monday, April 24th. Finally, Raymond James raised their price objective on shares of Alphabet from $119.00 to $130.00 in a research report on Wednesday, April 26th. One analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average target price of $132.80.
Alphabet 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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