Riverwater Partners LLC boosted its position in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 10.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,131 shares of the information services provider’s stock after purchasing an additional 506 shares during the quarter. Riverwater Partners LLC’s holdings in Alphabet were worth $534,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in GOOG. Financial Advisors Network Inc. boosted its holdings in shares of 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 purchasing an additional 7 shares during the period. Turim 21 Investimentos Ltda. boosted its holdings in shares of Alphabet by 10.8% in the 1st 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 during the period. West Michigan Advisors LLC boosted its holdings in shares of Alphabet by 3.7% in the 1st quarter. West Michigan Advisors LLC now owns 252 shares of the information services provider’s stock worth $704,000 after purchasing an additional 9 shares during the period. Somerville Kurt F boosted its holdings in shares of Alphabet by 10.3% in the 1st quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock worth $330,000 after purchasing an additional 11 shares during the period. Finally, Stonebridge Capital Advisors LLC boosted its holdings in shares of 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 purchasing an additional 16 shares during the period. Institutional investors own 27.17% of the company’s stock.
Insider Activity at Alphabet
In related news, major shareholder 2019 Gp L.L.C. Gv sold 27,290 shares of the company’s stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $12.72, for a total transaction of $347,128.80. Following the transaction, the insider now directly owns 10,958,925 shares of the company’s stock, valued at approximately $139,397,526. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, major shareholder 2019 Gp L.L.C. Gv sold 27,290 shares of the stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $12.72, for a total value of $347,128.80. Following the transaction, the insider now directly owns 10,958,925 shares of the company’s stock, valued at $139,397,526. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Kent Walker sold 29,006 shares of the stock in a transaction dated 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 directly owns 24,277 shares in the company, valued at $2,472,369.68. The disclosure for this sale can be found here. Insiders have sold 877,364 shares of company stock valued at $30,371,135 in the last ninety days. Corporate insiders own 12.99% of the company’s stock.
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 (EPS) for the quarter, beating 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 company had revenue of $69.79 billion for the quarter, compared to analyst estimates of $68.80 billion. During the same period in the prior year, the company posted $1.23 EPS. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Alphabet Inc. will post 5.41 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on GOOG. Raymond James lifted their target price on Alphabet from $119.00 to $130.00 in a report on Wednesday, April 26th. Oppenheimer dropped their price objective on Alphabet from $155.00 to $135.00 in a report on Monday, April 24th. Robert W. Baird boosted their price objective on Alphabet from $120.00 to $123.00 in a report on Wednesday, April 26th. UBS Group boosted their price objective on Alphabet from $120.00 to $123.00 and gave the company a “buy” rating in a report on Thursday, April 6th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Alphabet from $120.00 to $125.00 in a report on Wednesday, April 26th. One research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus 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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