Alpha Omega Wealth Management LLC cut its stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 1.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,878 shares of the information services provider’s stock after selling 302 shares during the period. Alpha Omega Wealth Management LLC’s holdings in Alphabet were worth $2,269,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in GOOGL. VitalStone Financial LLC purchased a new stake in shares of Alphabet in the 4th quarter valued at approximately $25,000. Live Oak Investment Partners purchased a new stake in shares of Alphabet in the 4th quarter valued at approximately $26,000. McElhenny Sheffield Capital Management LLC purchased a new stake in shares of Alphabet in the 4th quarter valued at approximately $33,000. Sanctuary Wealth Management L.L.C. purchased a new stake in shares of Alphabet in the 4th quarter valued at approximately $34,000. Finally, Turim 21 Investimentos Ltda. purchased a new stake in shares of Alphabet in the 3rd quarter valued at approximately $38,000. 35.38% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
GOOGL has been the topic of a number of research reports. Stifel Nicolaus initiated coverage on shares of Alphabet in a research note on Monday, March 20th. They issued a “buy” rating and a $130.00 price target on the stock. Citigroup raised their price objective on shares of Alphabet from $120.00 to $130.00 in a research report on Wednesday, April 26th. StockNews.com initiated coverage on shares of Alphabet in a research report on Thursday, May 18th. They issued a “buy” rating for the company. Truist Financial raised their price target on shares of Alphabet from $120.00 to $122.00 and gave the company a “buy” rating in a report on Wednesday, April 26th. Finally, Robert W. Baird upped their price objective on shares of Alphabet from $120.00 to $123.00 and gave the stock an “outperform” rating in a report on Wednesday, April 26th. Seven equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $129.54.
Alphabet Stock Up 1.5 %
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, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $57.19 billion. During the same quarter last year, the business posted $1.23 earnings per share. Equities research analysts anticipate that Alphabet Inc. will post 5.39 EPS for the current fiscal year.
Insider Activity at Alphabet
In related news, SVP Prabhakar Raghavan sold 16,083 shares of the firm’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $120.31, for a total value of $1,934,945.73. Following the transaction, the senior vice president now owns 127,028 shares in the company, valued at $15,282,738.68. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, major shareholder 2021 Gp L.L.C. Gv bought 309,931 shares of the company’s stock in a transaction on Wednesday, May 3rd. The shares were purchased at an average cost of $28.34 per share, for a total transaction of $8,783,444.54. Following the acquisition, the insider now owns 2,243,665 shares of the company’s stock, valued at approximately $63,585,466.10. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, SVP Prabhakar Raghavan sold 16,083 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $120.31, for a total transaction of $1,934,945.73. Following the completion of the transaction, the senior vice president now owns 127,028 shares of the company’s stock, valued at approximately $15,282,738.68. The disclosure for this sale can be found here. Insiders sold 810,248 shares of company stock valued at $25,702,475 in the last three months. Corporate insiders own 0.88% of the company’s stock.
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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