Cascade Investment Group Inc. cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 6.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,995 shares of the information services provider’s stock after selling 720 shares during the period. Alphabet accounts for 1.0% of Cascade Investment Group Inc.’s holdings, making the stock its 28th largest position. Cascade Investment Group Inc.’s holdings in Alphabet were worth $1,039,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently bought and sold shares of the stock. Financial Advisors Network Inc. lifted its holdings in shares of Alphabet by 4.5% during the first 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. lifted its holdings in Alphabet by 10.8% in the first quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock valued at $229,000 after buying an additional 8 shares during the period. West Michigan Advisors LLC lifted its holdings in 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 buying an additional 9 shares during the period. Somerville Kurt F lifted its holdings in Alphabet by 10.3% in the first 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 during the period. Finally, Stonebridge Capital Advisors LLC lifted its holdings in Alphabet by 1.4% in the first quarter. Stonebridge Capital Advisors LLC now owns 1,182 shares of the information services provider’s stock valued at $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.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on GOOG shares. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Alphabet from $120.00 to $125.00 in a report on Wednesday, April 26th. Oppenheimer decreased their price target on shares of Alphabet from $155.00 to $135.00 in a research note on Monday, April 24th. UBS Group lifted their price target 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. Raymond James lifted their price target on shares of Alphabet from $119.00 to $130.00 in a research note on Wednesday, April 26th. Finally, Robert W. Baird lifted their price target on shares of Alphabet from $120.00 to $123.00 in a research note on Wednesday, April 26th. One research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $132.80.
Alphabet Trading Down 3.2 %
Alphabet (NASDAQ:GOOG – Get Rating) last issued its quarterly earnings data on Tuesday, April 25th. The information services provider reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 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 period in the prior year, the firm posted $1.23 EPS. Research analysts anticipate that Alphabet Inc. will post 5.41 EPS for the current fiscal year.
Insider Buying and Selling at Alphabet
In other Alphabet news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $125.65, for a total value of $25,130.00. Following the transaction, the director now directly owns 5,740 shares in the company, valued at $721,231. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Alphabet news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $125.65, for a total value of $25,130.00. Following the transaction, the director now directly owns 5,740 shares in the company, valued at $721,231. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Prabhakar Raghavan sold 32,379 shares of the business’s stock in a transaction dated Monday, April 3rd. The shares were 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 in the company, valued at $7,922,966.80. The disclosure for this sale can be found here. Insiders have sold a total of 877,364 shares of company stock worth $30,371,135 over the last three months. 12.99% of the stock is currently owned by insiders.
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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