Vantage Investment Partners LLC raised its stake in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 11.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 284,203 shares of the information services provider’s stock after acquiring an additional 29,341 shares during the period. Alphabet makes up 4.0% of Vantage Investment Partners LLC’s portfolio, making the stock its 5th biggest position. Vantage Investment Partners LLC’s holdings in Alphabet were worth $28,915,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently modified their holdings of the company. Monarch Capital Management Inc. grew its stake in shares of Alphabet by 4.0% in the fourth quarter. Monarch Capital Management Inc. now owns 40,712 shares of the information services provider’s stock worth $3,612,000 after acquiring an additional 1,562 shares during the last quarter. Matthew Goff Investment Advisor LLC grew 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 worth $655,000 after acquiring an additional 300 shares during the last quarter. Gould Capital LLC grew 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 worth $30,000 after acquiring an additional 301 shares during the last quarter. Meyer Handelman Co. grew 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 worth $27,460,000 after acquiring an additional 18,210 shares during the last quarter. Finally, Galibier Capital Management Ltd. grew its stake in shares of Alphabet by 54.9% in 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 during the last quarter. 27.17% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts have recently issued reports on the company. UBS Group upped their price target on Alphabet from $120.00 to $123.00 and gave the company a “buy” rating in a report on Thursday, April 6th. Oppenheimer lowered their price target on Alphabet from $155.00 to $135.00 in a report on Monday, April 24th. Raymond James upped their price target on Alphabet from $119.00 to $130.00 in a report on Wednesday, April 26th. Deutsche Bank Aktiengesellschaft upped their price target on Alphabet from $120.00 to $125.00 in a report on Wednesday, April 26th. Finally, Robert W. Baird upped their price target on Alphabet from $120.00 to $123.00 in a report on Wednesday, April 26th. One investment analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $132.80.
Alphabet Stock Performance
Alphabet (NASDAQ:GOOG – Free Report) last released its earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share (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 firm had revenue of $69.79 billion during the quarter, compared to analysts’ expectations of $68.80 billion. During the same quarter last year, the business posted $1.23 earnings per share. The firm’s revenue was up 2.6% on a year-over-year basis. Equities research analysts forecast that Alphabet Inc. will post 5.39 EPS for the current fiscal year.
Insider Buying and Selling
In related news, Director Frances Arnold sold 240 shares of the stock in a transaction dated Thursday, June 29th. The stock was 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 in the company, valued at $1,565,060.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, Director Frances Arnold sold 240 shares of the firm’s stock in a transaction that occurred on Thursday, June 29th. The stock was sold at an average price of $120.02, for a total transaction of $28,804.80. Following the completion of the transaction, the director now owns 13,040 shares in the company, valued at approximately $1,565,060.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of the firm’s stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $14.13, for a total value of $1,423,908.36. Following the transaction, the insider now owns 11,421,476 shares of the company’s stock, valued at approximately $161,385,455.88. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 848,978 shares of company stock worth $27,492,109. 12.99% of the stock is owned by corporate insiders.
Alphabet 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.
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