ETF Managers Group LLC Has $459,000 Stake in Alphabet Inc. (NASDAQ:GOOG)

ETF Managers Group LLC decreased its position in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 6.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,410 shares of the information services provider’s stock after selling 294 shares during the period. ETF Managers Group LLC’s holdings in Alphabet were worth $459,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Monarch Capital Management Inc. lifted its holdings in Alphabet by 4.0% in 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 buying an additional 1,562 shares during the period. Matthew Goff Investment Advisor LLC lifted its holdings in 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 buying an additional 300 shares during the period. Gould Capital LLC lifted its holdings in 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 buying an additional 301 shares during the period. Meyer Handelman Co. lifted its holdings in 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 buying an additional 18,210 shares during the period. Finally, Galibier Capital Management Ltd. raised its holdings in shares of Alphabet by 54.9% during the fourth quarter. Galibier Capital Management Ltd. now owns 10,502 shares of the information services provider’s stock valued at $932,000 after purchasing an additional 3,722 shares during the period. Institutional investors and hedge funds own 27.17% of the company’s stock.

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Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In related news, Director Frances Arnold sold 240 shares of the business’s stock in a transaction on Thursday, June 29th. The shares were sold at an average price of $120.02, for a total value of $28,804.80. Following the completion of the sale, the director now owns 13,040 shares of the company’s stock, valued at approximately $1,565,060.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Frances Arnold sold 240 shares of the company’s stock in a transaction on Thursday, June 29th. The shares were sold at an average price of $120.02, for a total transaction of $28,804.80. Following the completion of the sale, the director now owns 13,040 shares of the company’s stock, valued at $1,565,060.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ann Mather sold 380 shares of the business’s stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $121.42, for a total transaction of $46,139.60. Following the transaction, the director now directly owns 4,700 shares in the company, valued at approximately $570,674. The disclosure for this sale can be found here. In the last ninety days, insiders sold 848,978 shares of company stock valued at $27,492,109. 12.99% of the stock is owned by insiders.

Alphabet Trading Up 0.8 %

NASDAQ GOOG opened at $120.97 on Friday. The company’s 50-day moving average price is $118.76 and its 200-day moving average price is $104.58. The company has a current ratio of 2.35, a quick ratio of 2.32 and a debt-to-equity ratio of 0.05. The stock has a market cap of $1.54 trillion, a PE ratio of 26.94, a PEG ratio of 1.55 and a beta of 1.09. Alphabet Inc. has a 12 month low of $83.45 and a 12 month high of $129.55.

Alphabet (NASDAQ:GOOG – Free Report) last released 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. The business had revenue of $69.79 billion during 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 company’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.23 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 5.39 earnings per share for the current year.

Alphabet Profile

(Free Report)

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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