Abacus Planning Group Inc. lessened its holdings in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 1.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,866 shares of the information services provider’s stock after selling 300 shares during the quarter. Alphabet makes up approximately 0.7% of Abacus Planning Group Inc.’s investment portfolio, making the stock its 23rd largest position. Abacus Planning Group Inc.’s holdings in Alphabet were worth $2,794,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Monarch Capital Management Inc. grew its stake in Alphabet by 4.0% during the fourth quarter. Monarch Capital Management Inc. now owns 40,712 shares of the information services provider’s stock worth $3,612,000 after purchasing an additional 1,562 shares during the period. Matthew Goff Investment Advisor LLC boosted its holdings in shares of Alphabet by 4.2% during the 4th quarter. Matthew Goff Investment Advisor LLC now owns 7,380 shares of the information services provider’s stock worth $655,000 after buying an additional 300 shares in the last quarter. Gould Capital LLC increased its stake in shares of Alphabet by 2,150.0% in the 3rd quarter. Gould Capital LLC now owns 315 shares of the information services provider’s stock valued at $30,000 after acquiring an additional 301 shares in the last quarter. Meyer Handelman Co. lifted its position in shares of Alphabet by 7.4% during the 1st quarter. Meyer Handelman Co. now owns 264,040 shares of the information services provider’s stock valued at $27,460,000 after acquiring an additional 18,210 shares during the period. Finally, Galibier Capital Management Ltd. boosted its stake in Alphabet by 54.9% during the fourth quarter. Galibier Capital Management Ltd. now owns 10,502 shares of the information services provider’s stock worth $932,000 after acquiring an additional 3,722 shares in the last quarter. 27.17% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, major shareholder 2019 Gp L.L.C. Gv sold 27,290 shares of the business’s stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $12.72, for a total value of $347,128.80. Following the sale, the insider now owns 10,958,925 shares of the company’s stock, valued at $139,397,526. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 32,379 shares of the business’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 value of $3,349,931.34. Following the completion of the transaction, the senior vice president now owns 76,580 shares of the company’s stock, valued at approximately $7,922,966.80. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 27,290 shares of the firm’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $12.72, for a total transaction of $347,128.80. Following the sale, the insider now owns 10,958,925 shares in the company, valued at approximately $139,397,526. The disclosure for this sale can be found here. Insiders sold 848,978 shares of company stock worth $27,492,109 over the last quarter. 12.99% of the stock is currently owned by company insiders.
Alphabet Stock Up 0.8 %
Alphabet (NASDAQ:GOOG – Free Report) last issued its earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.11. The firm had revenue of $69.79 billion for the quarter, compared to analyst estimates of $68.80 billion. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. The business’s revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.23 earnings per share. 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 several research reports. Raymond James upped their price objective on shares of Alphabet from $119.00 to $130.00 in a report on Wednesday, April 26th. Oppenheimer reduced their price objective on Alphabet from $155.00 to $135.00 in a research note on Monday, April 24th. Deutsche Bank Aktiengesellschaft upped their target price on Alphabet from $120.00 to $125.00 in a research report on Wednesday, April 26th. Robert W. Baird lifted their price objective on shares of Alphabet from $120.00 to $123.00 in a report on Wednesday, April 26th. Finally, UBS Group raised their price target 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 equities research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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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