Milestone Resources Group Ltd increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 0.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,334,872 shares of the information services provider’s stock after buying an additional 4,412 shares during the period. Alphabet comprises 7.7% of Milestone Resources Group Ltd’s portfolio, making the stock its 2nd largest holding. Milestone Resources Group Ltd’s holdings in Alphabet were worth $138,466,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently added to or reduced their stakes in GOOGL. Spreng Capital Management Inc. raised its holdings in Alphabet by 4.0% in the first quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock valued at $364,000 after acquiring an additional 5 shares in the last quarter. West Family Investments Inc. raised its holdings in shares of Alphabet by 0.3% during the first quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock worth $4,878,000 after purchasing an additional 6 shares during the period. Maple Capital Management Inc. raised its holdings in shares of Alphabet by 2.1% during the first quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock worth $823,000 after purchasing an additional 6 shares during the period. Private Advisory Group LLC raised its holdings in shares of Alphabet by 1.8% during the first quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock worth $1,115,000 after purchasing an additional 7 shares during the period. Finally, Weik Capital Management raised its holdings in shares of Alphabet by 0.5% during the first quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock worth $4,264,000 after purchasing an additional 8 shares during the period. Hedge funds and other institutional investors own 35.38% of the company’s stock.
Insider Transactions at Alphabet
In other news, SVP Prabhakar Raghavan sold 32,379 shares of the stock in a transaction that occurred on Monday, April 3rd. The shares were 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 of the company’s stock, valued at $7,922,966.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Kavitark Ram Shriram sold 37,500 shares of the firm’s stock in a transaction that occurred on Friday, May 5th. The shares were sold at an average price of $105.04, for a total transaction of $3,939,000.00. Following the transaction, the director now owns 107,240 shares of the company’s stock, valued at $11,264,489.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Prabhakar Raghavan sold 32,379 shares of the firm’s stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 76,580 shares in the company, valued at approximately $7,922,966.80. The disclosure for this sale can be found here. Insiders sold 825,924 shares of company stock valued at $27,042,517 over the last three months. 0.88% of the stock is owned by corporate insiders.
Alphabet Price Performance
Alphabet (NASDAQ:GOOGL – 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 company had revenue of $69.79 billion during the quarter, compared to analyst estimates of $57.19 billion. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. During the same period in the prior year, the firm earned $1.23 earnings per share. On average, analysts forecast that Alphabet Inc. will post 5.41 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of analysts have weighed in on the stock. StockNews.com assumed coverage on shares of Alphabet in a report on Thursday, May 18th. They set a “buy” rating on the stock. Sanford C. Bernstein cut shares of Alphabet from an “outperform” rating to a “market perform” rating and set a $125.00 target price on the stock. in a report on Tuesday. Bank of America increased their target price on shares of Alphabet from $125.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday, April 26th. Wells Fargo & Company began coverage on shares of Alphabet in a report on Wednesday, June 7th. They issued an “equal weight” rating and a $117.00 price objective on the stock. Finally, Citigroup increased their price objective on shares of Alphabet from $120.00 to $130.00 in a report on Wednesday, April 26th. Seven research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $129.90.
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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