Shulman DeMeo Asset Management LLC acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,166 shares of the information services provider’s stock, valued at approximately $225,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of GOOG. Monarch Capital Management Inc. increased its position in shares of Alphabet by 4.0% during the fourth quarter. Monarch Capital Management Inc. now owns 40,712 shares of the information services provider’s stock valued at $3,612,000 after acquiring an additional 1,562 shares during the last quarter. Grand Jean Capital Management Inc. boosted its stake in shares of Alphabet by 1,926.2% in the third quarter. Grand Jean Capital Management Inc. now owns 137,135 shares of the information services provider’s stock valued at $13,186,000 after purchasing an additional 130,367 shares during the period. Matthew Goff Investment Advisor LLC boosted its stake in shares of Alphabet by 4.2% in the fourth quarter. Matthew Goff Investment Advisor LLC now owns 7,380 shares of the information services provider’s stock valued at $655,000 after purchasing an additional 300 shares during the period. Gould Capital LLC boosted its stake in shares of Alphabet by 2,150.0% in the third quarter. Gould Capital LLC now owns 315 shares of the information services provider’s stock valued at $30,000 after purchasing an additional 301 shares during the period. Finally, Meyer Handelman Co. boosted its stake in shares of Alphabet by 7.4% in the first quarter. Meyer Handelman Co. now owns 264,040 shares of the information services provider’s stock valued at $27,460,000 after purchasing an additional 18,210 shares during the period. 27.17% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research analysts have recently commented on the stock. Robert W. Baird raised their price objective on shares of Alphabet from $120.00 to $123.00 in a research note on Wednesday, April 26th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Alphabet from $120.00 to $125.00 in a research note on Wednesday, April 26th. UBS Group boosted their price objective on shares of Alphabet from $120.00 to $123.00 and gave the stock a “buy” rating in a research report on Thursday, April 6th. Raymond James boosted their price objective on shares of Alphabet from $119.00 to $130.00 in a research report on Wednesday, April 26th. Finally, Oppenheimer reduced their price objective on shares of Alphabet from $155.00 to $135.00 in a research report on Monday, April 24th. One equities research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $132.80.
Alphabet Stock Performance
Alphabet (NASDAQ:GOOG – Get Rating) last posted its quarterly earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates 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 prior year, the company posted $1.23 EPS. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. Analysts expect that Alphabet Inc. will post 5.41 earnings per share for the current fiscal year.
Insider Transactions at Alphabet
In other 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 transaction of $563,319.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Alphabet 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 shares were acquired at an average cost of $28.34 per share, for a total transaction of $8,783,444.54. Following the transaction, the insider now directly owns 2,243,665 shares of the company’s stock, valued at $63,585,466.10. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 37,405 shares of the business’s stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $15.06, for a total transaction of $563,319.30. The disclosure for this sale can be found here. Insiders have sold a total of 848,358 shares of company stock valued at $27,417,164 in the last ninety days. 12.99% of the stock is currently 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.
See Also
- Get a free research report on Alphabet from StockNews.com
- Meta Platforms Soars with Analysts Bullish on AI-Driven Ad Growth
- Delta Airlines Is Flying Higher On Upbeat Guidance
- Here’s How to Rank the 3 Biggest Video Game Stocks
- Redfin: Contrasting Analyst Bearishness With Market Optimism
- Five stocks we like better than Alphabet
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.
