Barton Investment Management cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 8.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,130 shares of the information services provider’s stock after selling 1,680 shares during the period. Alphabet comprises approximately 0.3% of Barton Investment Management’s holdings, making the stock its 22nd largest holding. Barton Investment Management’s holdings in Alphabet were worth $1,984,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the business. VitalStone Financial LLC acquired a new position in Alphabet during the 4th quarter worth $25,000. Live Oak Investment Partners acquired a new position in Alphabet during the 4th quarter worth $26,000. McElhenny Sheffield Capital Management LLC acquired a new position in Alphabet during the 4th quarter worth $33,000. Sanctuary Wealth Management L.L.C. acquired a new position in Alphabet during the 4th quarter worth $34,000. Finally, Turim 21 Investimentos Ltda. acquired a new position in Alphabet during the 3rd quarter worth $38,000. 35.38% of the stock is currently owned by institutional investors.
Insider Transactions at Alphabet
In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv purchased 309,931 shares of the company’s stock in a transaction that occurred 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 in the company, valued at $63,585,466.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, major shareholder 2021 Gp L.L.C. Gv purchased 309,931 shares of the firm’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 purchase, the insider now directly owns 2,243,665 shares in the company, valued at approximately $63,585,466.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 37,500 shares of the firm’s stock in a transaction that occurred on Friday, May 5th. The stock was sold at an average price of $105.04, for a total transaction of $3,939,000.00. Following the completion of the transaction, the director now directly owns 107,240 shares of the company’s stock, valued at $11,264,489.60. The disclosure for this sale can be found here. Insiders have sold 794,165 shares of company stock valued at $23,767,530 in the last 90 days. 0.88% of the stock is currently owned by corporate insiders.
Alphabet Stock Up 0.2 %
Alphabet (NASDAQ:GOOGL – Free Report) last posted its quarterly earnings data 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. The business had revenue of $69.79 billion during the quarter, compared to the consensus estimate of $57.19 billion. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. During the same period in the prior year, the business posted $1.23 earnings per share. Research analysts forecast that Alphabet Inc. will post 5.39 EPS for the current fiscal year.
Wall Street Analyst Weigh In
GOOGL has been the topic of a number of analyst reports. Piper Sandler increased their price target on Alphabet from $117.00 to $128.00 and gave the company an “overweight” rating in a research note on Wednesday, April 26th. BNP Paribas raised Alphabet from a “neutral” rating to an “outperform” rating and set a $123.00 price target on the stock in a research note on Friday, March 17th. 1-800-FLOWERS.COM reissued a “downgrade” rating on shares of Alphabet in a research note on Monday, May 15th. Needham & Company LLC reissued a “buy” rating and issued a $115.00 price target on shares of Alphabet in a research note on Monday, April 3rd. Finally, Morgan Stanley increased their price target on Alphabet from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Wednesday, April 26th. Seven research analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $129.63.
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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