Epiq Partners LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 11.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,754 shares of the information services provider’s stock after buying an additional 389 shares during the period. Epiq Partners LLC’s holdings in Alphabet were worth $390,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Totem Point Management LLC raised its position in shares of Alphabet by 22.0% during the first quarter. Totem Point Management LLC now owns 3,171 shares of the information services provider’s stock worth $8,857,000 after purchasing an additional 571 shares during the period. 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 purchasing an additional 11 shares during the period. BCK Partners Inc. acquired a new stake in shares of Alphabet during the first quarter worth about $2,564,000. Hall Capital Management Co. Inc. raised its position in shares of Alphabet by 53.2% during the first quarter. Hall Capital Management Co. Inc. now owns 144 shares of the information services provider’s stock worth $402,000 after purchasing an additional 50 shares during the period. Finally, Fairfield Bush & CO. raised its position in shares of Alphabet by 6.8% during the first quarter. Fairfield Bush & CO. now owns 3,370 shares of the information services provider’s stock worth $9,412,000 after purchasing an additional 214 shares during the period. Institutional investors own 27.17% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft raised their price target on Alphabet from $120.00 to $125.00 in a research report on Wednesday, April 26th. Oppenheimer dropped their price target on Alphabet from $155.00 to $135.00 in a research report on Monday, April 24th. UBS Group lifted their target price on Alphabet from $120.00 to $123.00 and gave the company a “buy” rating in a research report on Thursday, April 6th. Raymond James lifted their target price on Alphabet from $119.00 to $130.00 in a research report on Wednesday, April 26th. Finally, Robert W. Baird lifted their target price on Alphabet from $120.00 to $123.00 in a research report on Wednesday, April 26th. One investment analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $132.80.
Alphabet Stock Performance
Alphabet (NASDAQ:GOOG – Get Rating) last released its quarterly 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. The business had revenue of $69.79 billion during the quarter, compared to the consensus estimate of $68.80 billion. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.23 EPS. As a group, equities research analysts predict that Alphabet Inc. will post 5.41 EPS for the current year.
Insider Activity at Alphabet
In related news, SVP Prabhakar Raghavan sold 32,379 shares of the business’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $103.46, for a total value of $3,349,931.34. Following the completion of the sale, the senior vice president now directly owns 76,580 shares in the company, valued at approximately $7,922,966.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Prabhakar Raghavan sold 32,379 shares of the business’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $103.46, for a total value of $3,349,931.34. Following the completion of the sale, the senior vice president now directly owns 76,580 shares in the company, valued at approximately $7,922,966.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Kent Walker sold 29,006 shares of the company’s stock in a transaction 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 sale, the insider now owns 24,277 shares of the company’s stock, valued at $2,472,369.68. The disclosure for this sale can be found here. Insiders sold 877,364 shares of company stock worth $30,371,135 in the last ninety days. 12.99% of the stock is owned by company insiders.
Alphabet Company 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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