Donaldson Capital Management LLC Lowers Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Donaldson Capital Management LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 2.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,192 shares of the information services provider’s stock after selling 460 shares during the period. Donaldson Capital Management LLC’s holdings in Alphabet were worth $1,788,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of GOOG. Totem Point Management LLC increased its position in Alphabet by 22.0% during the 1st 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 in the last quarter. Somerville Kurt F increased its position in shares of Alphabet by 10.3% in the first quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock worth $330,000 after acquiring an additional 11 shares in the last quarter. BCK Partners Inc. purchased a new position in shares of Alphabet in the 1st quarter valued at $2,564,000. Hall Capital Management Co. Inc. increased its holdings in Alphabet by 53.2% in the 1st quarter. Hall Capital Management Co. Inc. now owns 144 shares of the information services provider’s stock valued at $402,000 after purchasing an additional 50 shares in the last quarter. Finally, Fairfield Bush & CO. raised its position in Alphabet by 6.8% in the first quarter. Fairfield Bush & CO. now owns 3,370 shares of the information services provider’s stock valued at $9,412,000 after purchasing an additional 214 shares during the period. 27.17% of the stock is owned by institutional investors and hedge funds.

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Analyst Ratings Changes

Several equities research analysts recently commented on GOOG shares. UBS Group raised their target price on Alphabet from $120.00 to $123.00 and gave the company a “buy” rating in a report on Thursday, April 6th. Oppenheimer dropped their price target on shares of Alphabet from $155.00 to $135.00 in a research note on Monday, April 24th. Deutsche Bank Aktiengesellschaft increased their price target on Alphabet from $120.00 to $125.00 in a report on Wednesday, April 26th. Robert W. Baird lifted their price objective on Alphabet from $120.00 to $123.00 in a report on Wednesday, April 26th. Finally, Raymond James lifted their price target on shares of Alphabet from $119.00 to $130.00 in a research note on Wednesday, April 26th. One research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $132.80.

Insider Transactions at Alphabet

In other news, major shareholder 2021 Gp L.L.C. Gv acquired 309,931 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was purchased at an average price of $28.34 per share, with a total value of $8,783,444.54. Following the purchase, the insider now owns 2,243,665 shares of the company’s stock, valued at approximately $63,585,466.10. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $125.65, for a total transaction of $25,130.00. Following the transaction, the director now owns 5,740 shares of the company’s stock, valued at $721,231. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder 2021 Gp L.L.C. Gv bought 309,931 shares of the firm’s stock in a transaction on Wednesday, May 3rd. The stock was acquired at an average cost of $28.34 per share, with a total value of $8,783,444.54. Following the completion of the transaction, the insider now directly owns 2,243,665 shares of the company’s stock, valued at $63,585,466.10. The disclosure for this purchase can be found here. Insiders sold a total of 877,364 shares of company stock valued at $30,371,135 in the last three months. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Stock Performance

Shares of GOOG opened at $119.09 on Tuesday. Alphabet Inc. has a 52-week low of $83.45 and a 52-week high of $129.55. The firm has a market capitalization of $1.51 trillion, a PE ratio of 26.52, a P/E/G ratio of 1.57 and a beta of 1.09. The firm has a 50-day moving average price of $117.58 and a 200 day moving average price of $103.98. The company has a quick ratio of 2.32, a current ratio of 2.35 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOG – Get Rating) last posted its quarterly earnings data on Tuesday, April 25th. The information services provider reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.11. The business 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 business’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter last year, the business earned $1.23 earnings per share. On average, sell-side analysts anticipate that Alphabet Inc. will post 5.41 earnings per share for the current fiscal year.

Alphabet Company Profile

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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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