E&G Advisors LP lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 3.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,880 shares of the information services provider’s stock after selling 250 shares during the quarter. E&G Advisors LP’s holdings in Alphabet were worth $820,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the business. Derbend Asset Management lifted its stake in Alphabet by 11.8% in the 1st quarter. Derbend Asset Management now owns 11,045 shares of the information services provider’s stock worth $1,149,000 after purchasing an additional 1,165 shares in the last quarter. Bill Few Associates Inc. grew its holdings in Alphabet by 2.4% during the 1st quarter. Bill Few Associates Inc. now owns 36,860 shares of the information services provider’s stock valued at $3,833,000 after buying an additional 850 shares in the last quarter. Arkfeld Wealth Strategies L.L.C. raised its holdings in shares of Alphabet by 5.0% during the 1st quarter. Arkfeld Wealth Strategies L.L.C. now owns 12,384 shares of the information services provider’s stock worth $1,314,000 after acquiring an additional 594 shares in the last quarter. Cornell Pochily Investment Advisors Inc. boosted its position in shares of Alphabet by 3.5% during the 1st quarter. Cornell Pochily Investment Advisors Inc. now owns 31,280 shares of the information services provider’s stock valued at $3,253,000 after acquiring an additional 1,055 shares during the last quarter. Finally, Northwest Investment Counselors LLC grew its holdings in shares of Alphabet by 0.4% in the first quarter. Northwest Investment Counselors LLC now owns 44,789 shares of the information services provider’s stock valued at $4,658,000 after purchasing an additional 193 shares in the last quarter. 27.17% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Alphabet
In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv bought 309,931 shares of the business’s stock in a transaction on Wednesday, May 3rd. The shares were acquired at an average price of $28.34 per share, with a total value of $8,783,444.54. Following the transaction, the insider now owns 2,243,665 shares of the company’s stock, valued at approximately $63,585,466.10. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Alphabet news, Director John L. Hennessy sold 200 shares of the stock in a transaction 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 sale, the director now owns 5,740 shares of the company’s stock, valued at approximately $721,231. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder 2021 Gp L.L.C. Gv purchased 309,931 shares of the business’s stock in a transaction dated Wednesday, May 3rd. The stock was bought at an average price of $28.34 per share, for a total transaction of $8,783,444.54. Following the completion of the acquisition, the insider now directly owns 2,243,665 shares in the company, valued at approximately $63,585,466.10. The disclosure for this purchase can be found here. Insiders sold 848,978 shares of company stock worth $27,492,109 over the last three months. 12.99% of the stock is owned by corporate insiders.
Alphabet Stock Performance
Alphabet (NASDAQ:GOOG – Free Report) last issued its earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates 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. As a group, equities analysts predict that Alphabet Inc. will post 5.39 EPS for the current year.
Analyst Ratings Changes
GOOG has been the topic of a number of recent research reports. Oppenheimer decreased their price target on shares of Alphabet from $155.00 to $135.00 in a research note on Monday, April 24th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Alphabet from $120.00 to $125.00 in a report on Wednesday, April 26th. Raymond James boosted their price objective on Alphabet from $119.00 to $130.00 in a research note on Wednesday, April 26th. Robert W. Baird raised their price objective on Alphabet from $120.00 to $123.00 in a research note on Wednesday, April 26th. Finally, UBS Group boosted their target price on 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $132.80.
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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