Rocky Mountain Advisers LLC lifted its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 24.9% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,260 shares of the information services provider’s stock after purchasing an additional 450 shares during the period. Rocky Mountain Advisers LLC’s holdings in Alphabet were worth $234,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Spreng Capital Management Inc. boosted its stake in Alphabet by 4.0% during the 1st quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock valued at $364,000 after purchasing an additional 5 shares during the last quarter. West Family Investments Inc. boosted its position in shares of Alphabet by 0.3% during the first quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock valued at $4,878,000 after buying an additional 6 shares during the last quarter. Maple Capital Management Inc. increased its holdings in Alphabet by 2.1% in the 1st quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock worth $823,000 after buying an additional 6 shares in the last quarter. Private Advisory Group LLC raised its position in Alphabet by 1.8% in the 1st quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock worth $1,115,000 after buying an additional 7 shares during the last quarter. Finally, Weik Capital Management lifted its stake in Alphabet by 0.5% during the 1st quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock valued at $4,264,000 after acquiring an additional 8 shares during the period. 35.38% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions 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 shares were 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 of the company’s stock, valued at approximately $15,282,738.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $125.65, for a total transaction of $25,130.00. Following the transaction, the director now owns 5,740 shares in the company, valued at $721,231. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Prabhakar Raghavan sold 16,083 shares of Alphabet stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $120.31, for a total value of $1,934,945.73. Following the completion of the sale, the senior vice president now owns 127,028 shares of the company’s stock, valued at $15,282,738.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 810,248 shares of company stock worth $25,702,475. 0.88% of the stock is currently owned by insiders.
Alphabet Stock Performance
Alphabet (NASDAQ:GOOGL – Free Report) last released its 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 return on equity of 22.84% and a net margin of 20.58%. The firm had revenue of $69.79 billion for the quarter, compared to analysts’ expectations of $57.19 billion. During the same quarter in the prior year, the firm posted $1.23 earnings per share. Research analysts predict that Alphabet Inc. will post 5.39 EPS for the current year.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on GOOGL. Bank of America lifted their price target on shares of Alphabet from $125.00 to $128.00 and gave the stock a “buy” rating in a research note on Wednesday, April 26th. Loop Capital lowered shares of Alphabet from a “buy” rating to a “hold” rating and set a $125.00 target price for the company. in a research note on Monday, May 15th. Royal Bank of Canada raised their price target on Alphabet from $130.00 to $132.00 in a research note on Wednesday, April 26th. Morgan Stanley upped their price objective on Alphabet from $135.00 to $140.00 and gave the company an “overweight” rating in a research report on Wednesday, April 26th. Finally, Roth Mkm boosted their price target on Alphabet from $126.00 to $134.00 and gave the company a “buy” rating in a research note on Wednesday, April 26th. Seven equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $129.54.
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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