Naviter Wealth LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 25.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,509 shares of the information services provider’s stock after selling 10,295 shares during the quarter. Alphabet comprises 1.1% of Naviter Wealth LLC’s investment portfolio, making the stock its 14th biggest holding. Naviter Wealth LLC’s holdings in Alphabet were worth $3,069,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently made changes to their positions in the company. Financial Advisors Network Inc. increased its holdings in Alphabet by 4.5% in the 1st 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. increased its stake in shares of Alphabet by 10.8% in the first quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock worth $229,000 after purchasing an additional 8 shares in the last quarter. West Michigan Advisors LLC raised its position in shares of Alphabet by 3.7% in the first quarter. West Michigan Advisors LLC now owns 252 shares of the information services provider’s stock valued at $704,000 after purchasing an additional 9 shares during the period. Somerville Kurt F lifted its stake in shares of Alphabet by 10.3% during the 1st quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock valued at $330,000 after buying an additional 11 shares in the last quarter. Finally, Stonebridge Capital Advisors LLC boosted its holdings in Alphabet by 1.4% in the 1st quarter. Stonebridge Capital Advisors LLC now owns 1,182 shares of the information services provider’s stock worth $3,301,000 after buying an additional 16 shares during the period. 27.17% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In related news, major shareholder 2019 Gp L.L.C. Gv sold 37,405 shares of the stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $15.06, for a total transaction of $563,319.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, major shareholder 2021 Gp L.L.C. Gv purchased 309,931 shares of the company’s stock in a transaction on Wednesday, May 3rd. The stock was acquired at an average price of $28.34 per share, with a total value of $8,783,444.54. Following the transaction, the insider now directly owns 2,243,665 shares of the company’s stock, valued at approximately $63,585,466.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $563,319.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 877,364 shares of company stock valued at $30,371,135. Insiders own 12.99% of the company’s stock.
Analysts Set New Price Targets
Alphabet Stock Down 0.7 %
Shares of NASDAQ GOOG opened at $123.02 on Friday. The stock has a market capitalization of $1.56 trillion, a P/E ratio of 27.40, a PEG ratio of 1.58 and a beta of 1.09. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.35 and a quick ratio of 2.32. Alphabet Inc. has a one year low of $83.45 and a one year high of $129.55. The firm’s 50 day simple moving average is $117.33 and its two-hundred day simple moving average is $103.70.
Alphabet (NASDAQ:GOOG – Get Rating) last released its earnings results on Tuesday, April 25th. The information services provider reported $1.17 EPS for the quarter, beating the consensus estimate of $1.06 by $0.11. The company had revenue of $69.79 billion for the quarter, compared to analyst estimates of $68.80 billion. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.23 EPS. As a group, analysts expect that Alphabet Inc. will post 5.41 EPS for the current fiscal year.
About Alphabet
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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