Forum Financial Management LP lifted its holdings in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 8.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,918 shares of the information services provider’s stock after purchasing an additional 3,626 shares during the period. Forum Financial Management LP’s holdings in Alphabet were worth $4,671,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the business. Bell Bank grew its stake in shares of Alphabet by 13.9% in the 1st quarter. Bell Bank now owns 17,767 shares of the information services provider’s stock worth $1,848,000 after purchasing an additional 2,172 shares during the last quarter. Alpha Omega Wealth Management LLC boosted its holdings in shares of Alphabet by 6.5% in the first quarter. Alpha Omega Wealth Management LLC now owns 17,129 shares of the information services provider’s stock worth $1,781,000 after buying an additional 1,043 shares during the period. TKG Advisors LLC acquired a new position in shares of Alphabet in the first quarter worth about $462,000. Carmel Capital Partners LLC boosted its holdings in shares of Alphabet by 3.4% in the first quarter. Carmel Capital Partners LLC now owns 8,734 shares of the information services provider’s stock worth $908,000 after buying an additional 291 shares during the period. Finally, Marcum Wealth LLC boosted its holdings in shares of Alphabet by 0.8% in the first quarter. Marcum Wealth LLC now owns 17,548 shares of the information services provider’s stock worth $1,825,000 after buying an additional 146 shares during the period. Institutional investors and hedge funds own 27.17% of the company’s stock.
Insider Activity
In other news, Director Frances Arnold sold 240 shares of Alphabet stock in a transaction that occurred 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 transaction, the director now owns 13,040 shares of the company’s stock, valued at $1,565,060.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Frances Arnold sold 240 shares of the business’s stock in a transaction on Thursday, June 29th. The shares were sold at an average price of $120.02, for a total transaction of $28,804.80. Following the transaction, the director now owns 13,040 shares of the company’s stock, valued at $1,565,060.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ann Mather sold 380 shares of the business’s stock in a transaction on Monday, June 26th. The stock was sold at an average price of $121.42, for a total transaction of $46,139.60. Following the transaction, the director now directly owns 4,700 shares in the company, valued at approximately $570,674. The disclosure for this sale can be found here. Insiders have sold a total of 816,599 shares of company stock valued at $24,142,177 over the last 90 days. 12.99% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
Alphabet Trading Down 0.3 %
NASDAQ:GOOG opened at $120.56 on Wednesday. Alphabet Inc. has a 12 month low of $83.45 and a 12 month high of $129.55. The firm has a market cap of $1.53 trillion, a price-to-earnings ratio of 26.85, a P/E/G ratio of 1.55 and a beta of 1.07. The company has a quick ratio of 2.32, a current ratio of 2.35 and a debt-to-equity ratio of 0.05. The company’s 50 day moving average is $119.36 and its 200-day moving average is $105.13.
Alphabet (NASDAQ:GOOG – Free Report) last released its quarterly earnings results on Tuesday, April 25th. The information services provider reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.11. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. The company had revenue of $69.79 billion for the quarter, compared to analyst estimates of $68.80 billion. During the same quarter last year, the firm posted $1.23 earnings per share. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. Equities analysts anticipate that Alphabet Inc. will post 5.39 EPS for the current year.
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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