Raymond James Financial Services Advisors Inc. grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 1.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,465,534 shares of the information services provider’s stock after acquiring an additional 42,779 shares during the period. Alphabet accounts for approximately 0.7% of Raymond James Financial Services Advisors Inc.’s portfolio, making the stock its 24th largest holding. Raymond James Financial Services Advisors Inc.’s holdings in Alphabet were worth $359,480,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in GOOGL. KFG Wealth Management LLC bought a new position in shares of Alphabet in the first quarter valued at approximately $221,000. Raymond James & Associates boosted its holdings in Alphabet by 0.5% in the 1st quarter. Raymond James & Associates now owns 8,751,495 shares of the information services provider’s stock valued at $907,792,000 after purchasing an additional 44,238 shares during the period. Bristol John W & Co. Inc. NY grew its position in shares of Alphabet by 3.3% during the 1st quarter. Bristol John W & Co. Inc. NY now owns 944,868 shares of the information services provider’s stock valued at $98,011,000 after purchasing an additional 30,206 shares in the last quarter. White Pine Investment CO increased its holdings in shares of Alphabet by 1.9% in the first quarter. White Pine Investment CO now owns 106,864 shares of the information services provider’s stock worth $11,085,000 after purchasing an additional 1,975 shares during the period. Finally, Global Trust Asset Management LLC boosted its stake in Alphabet by 3.6% during the first quarter. Global Trust Asset Management LLC now owns 2,880 shares of the information services provider’s stock valued at $299,000 after buying an additional 100 shares during the period. 35.38% of the stock is owned by institutional investors.
Insider Activity at Alphabet
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 completion of the sale, 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 Securities & Exchange Commission, which is available through this hyperlink. In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 27,290 shares of the company’s stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $12.72, for a total transaction of $347,128.80. Following the transaction, the insider now owns 10,958,925 shares in the company, valued at approximately $139,397,526. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $125.65, for a total transaction of $25,130.00. Following the completion of the sale, the director now owns 5,740 shares of the company’s stock, valued at $721,231. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 826,304 shares of company stock valued at $27,088,656. 0.88% of the stock is owned by insiders.
Alphabet Stock Performance
Alphabet (NASDAQ:GOOGL – Free Report) last released its earnings results on Tuesday, April 25th. The information services provider reported $1.17 EPS for the quarter, topping the consensus estimate of $1.06 by $0.11. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. The business had revenue of $69.79 billion for the quarter, compared to the consensus estimate of $57.19 billion. During the same period in the previous year, the company posted $1.23 earnings per share. Equities research analysts anticipate that Alphabet Inc. will post 5.41 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
GOOGL has been the topic of a number of research analyst reports. Wells Fargo & Company began coverage on Alphabet in a research note on Wednesday, June 7th. They issued an “equal weight” rating and a $117.00 target price on the stock. JMP Securities reiterated a “market outperform” rating and set a $132.00 target price on shares of Alphabet in a research report on Thursday, March 16th. Citigroup increased their price target on shares of Alphabet from $120.00 to $130.00 in a report on Wednesday, April 26th. Evercore ISI lifted their price objective on shares of Alphabet from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, April 26th. Finally, BNP Paribas raised Alphabet from a “neutral” rating to an “outperform” rating and set a $123.00 target price on the stock in a research note on Friday, March 17th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $129.90.
About Alphabet
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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