Welch Group LLC raised its stake in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 17.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,043 shares of the information services provider’s stock after purchasing an additional 1,764 shares during the quarter. Welch Group LLC’s holdings in Alphabet were worth $1,252,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in the stock. DC Investments Management LLC acquired a new position in Alphabet in the first quarter worth about $115,000. Guardian Wealth Management Inc. acquired a new position in shares of Alphabet during the first quarter worth approximately $184,000. Turim 21 Investimentos Ltda. boosted its position in shares of Alphabet by 10.8% during the first quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock worth $229,000 after buying an additional 8 shares during the period. qPULA Trading Management LP acquired a new position in shares of Alphabet during the first quarter worth approximately $279,000. Finally, Wayfinding Financial LLC bought a new stake in Alphabet during the fourth quarter worth approximately $294,000. 27.17% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
GOOG has been the topic of several recent analyst reports. Raymond James boosted their target price on Alphabet from $119.00 to $130.00 in a report on Wednesday, April 26th. UBS Group boosted their target price on Alphabet from $120.00 to $123.00 and gave the stock a “buy” rating in a report on Thursday, April 6th. Deutsche Bank Aktiengesellschaft boosted their target price on Alphabet from $120.00 to $125.00 in a report on Wednesday, April 26th. Robert W. Baird boosted their target price on Alphabet from $120.00 to $123.00 in a report on Wednesday, April 26th. Finally, Oppenheimer dropped their target price on Alphabet from $155.00 to $135.00 in a report on Monday, April 24th. One analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $132.80.
Alphabet Trading Down 3.2 %
Alphabet (NASDAQ:GOOG – Get Rating) last posted its quarterly 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. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. The business had revenue of $69.79 billion for the quarter, compared to analysts’ expectations of $68.80 billion. During the same period in the previous year, the company posted $1.23 EPS. Alphabet’s revenue was up 2.6% on a year-over-year basis. Equities analysts anticipate that Alphabet Inc. will post 5.41 EPS for the current year.
Insider Activity
In related news, major shareholder 2019 Gp L.L.C. Gv sold 37,405 shares of the company’s stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $15.06, for a total value of $563,319.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, major shareholder 2019 Gp L.L.C. Gv sold 37,405 shares of the company’s stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $15.06, for a total value of $563,319.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider John Kent Walker sold 29,006 shares of the company’s stock in a transaction on Wednesday, March 29th. The stock was sold at an average price of $101.84, for a total transaction of $2,953,971.04. Following the completion of 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 have sold a total of 877,364 shares of company stock worth $30,371,135 in the last ninety days. Corporate insiders own 12.99% of the company’s stock.
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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