Riversedge Advisors LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 67.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,180 shares of the information services provider’s stock after purchasing an additional 2,500 shares during the quarter. Riversedge Advisors LLC’s holdings in Alphabet were worth $641,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of GOOGL. VitalStone Financial LLC acquired a new stake in Alphabet in the fourth quarter valued at about $25,000. Live Oak Investment Partners acquired a new stake in Alphabet in the fourth quarter valued at about $26,000. McElhenny Sheffield Capital Management LLC acquired a new stake in Alphabet in the fourth quarter valued at about $33,000. Sanctuary Wealth Management L.L.C. acquired a new stake in Alphabet in the fourth quarter valued at about $34,000. Finally, Turim 21 Investimentos Ltda. acquired a new stake in Alphabet in the third quarter valued at about $38,000. 35.38% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several analysts recently weighed in on the company. Oppenheimer raised their price objective on Alphabet from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Wednesday, April 26th. Piper Sandler lifted 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. Loop Capital lowered Alphabet from a “buy” rating to a “hold” rating and set a $125.00 price target on the stock. in a research note on Monday, May 15th. Jefferies Financial Group lifted their price target on Alphabet from $130.00 to $150.00 in a research note on Tuesday, May 23rd. Finally, JMP Securities reissued a “market outperform” rating and set a $132.00 price target on shares of Alphabet in a research note on Thursday, March 16th. Seven research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $129.63.
Alphabet Trading Up 0.2 %
Alphabet (NASDAQ:GOOGL – Free Report) last announced 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 company had revenue of $69.79 billion for the quarter, compared to analysts’ expectations of $57.19 billion. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. During the same quarter in the previous year, the firm earned $1.23 earnings per share. As a group, equities analysts expect that Alphabet Inc. will post 5.39 earnings per share for the current fiscal year.
Insider Activity at Alphabet
In related news, major shareholder 2019 Gp L.L.C. Gv sold 27,290 shares of Alphabet stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $12.72, for a total transaction of $347,128.80. Following the transaction, the insider now owns 10,958,925 shares of the company’s stock, valued at $139,397,526. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv acquired 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 completion of 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 legal filing with the SEC, which is available at the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 27,290 shares of the business’s stock in a transaction on Friday, May 12th. The stock was sold at an average price of $12.72, for a total value of $347,128.80. Following the completion of the transaction, the insider now directly owns 10,958,925 shares in the company, valued at approximately $139,397,526. The disclosure for this sale can be found here. Insiders have sold a total of 794,165 shares of company stock valued at $23,767,530 over the last 90 days. Insiders own 0.88% of the company’s stock.
Alphabet Company 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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