FRG Family Wealth Advisors LLC lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 0.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 102,455 shares of the information services provider’s stock after selling 740 shares during the period. Alphabet comprises about 2.4% of FRG Family Wealth Advisors LLC’s portfolio, making the stock its 9th biggest position. FRG Family Wealth Advisors LLC’s holdings in Alphabet were worth $10,628,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Alphabet by 1,919.4% during the 3rd quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock worth $45,628,484,000 after buying an additional 453,413,389 shares during the period. State Street Corp lifted its holdings in Alphabet by 1,900.6% during the 3rd quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock worth $20,770,809,000 after buying an additional 206,300,042 shares during the period. Moneta Group Investment Advisors LLC lifted its holdings in Alphabet by 111,197.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 170,420,243 shares of the information services provider’s stock worth $15,036,178,000 after buying an additional 170,267,122 shares during the period. Geode Capital Management LLC lifted its holdings in Alphabet by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 117,077,511 shares of the information services provider’s stock worth $10,310,795,000 after buying an additional 1,923,667 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Alphabet by 1,759.2% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock worth $11,106,502,000 after buying an additional 109,870,525 shares during the period. Institutional investors own 35.38% of the company’s stock.
Analyst Ratings Changes
A number of research analysts have recently issued reports on the company. Loop Capital downgraded Alphabet from a “buy” rating to a “hold” rating and set a $125.00 price objective on the stock. in a research note on Monday, May 15th. Citigroup boosted their price objective on Alphabet from $120.00 to $130.00 in a research note on Wednesday, April 26th. Evercore ISI boosted their price objective on Alphabet from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday, April 26th. StockNews.com assumed coverage on Alphabet in a research note on Thursday, May 18th. They issued a “buy” rating on the stock. Finally, Needham & Company LLC reissued a “buy” rating and issued a $115.00 price objective on shares of Alphabet in a research note on Monday, April 3rd. Seven investment 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 stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $129.63.
Alphabet Trading Up 0.2 %
Alphabet (NASDAQ:GOOGL – Free Report) last posted 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. The firm had revenue of $69.79 billion for 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 quarter in the prior year, the business posted $1.23 earnings per share. As a group, analysts expect that Alphabet Inc. will post 5.39 EPS for the current year.
Insiders Place Their Bets
In related news, Director Frances Arnold sold 240 shares of the stock in a transaction on Thursday, June 29th. The stock was sold at an average price of $120.02, for a total value of $28,804.80. Following the sale, the director now owns 13,040 shares in the company, valued at $1,565,060.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of the stock in a transaction on Monday, May 8th. The stock was 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 $161,385,455.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Frances Arnold sold 240 shares of the stock in a transaction on Thursday, June 29th. The shares were sold at an average price of $120.02, for a total value of $28,804.80. Following the completion of the transaction, the director now directly owns 13,040 shares in the company, valued at approximately $1,565,060.80. The disclosure for this sale can be found here. Insiders have sold a total of 794,165 shares of company stock worth $23,767,530 over the last 90 days. Corporate 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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