HighMark Wealth Management LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 48.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,125 shares of the information services provider’s stock after purchasing an additional 695 shares during the period. HighMark Wealth Management LLC’s holdings in Alphabet were worth $221,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in the company. Financial Advisors Network Inc. lifted its stake in Alphabet by 4.5% during the first quarter. Financial Advisors Network Inc. now owns 161 shares of the information services provider’s stock valued at $450,000 after purchasing an additional 7 shares during the last quarter. Turim 21 Investimentos Ltda. grew its position in Alphabet by 10.8% in the first quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock worth $229,000 after buying an additional 8 shares during the last quarter. West Michigan Advisors LLC lifted its position in shares of Alphabet by 3.7% during the 1st quarter. West Michigan Advisors LLC now owns 252 shares of the information services provider’s stock valued at $704,000 after acquiring an additional 9 shares during the last quarter. Somerville Kurt F boosted its stake in shares of Alphabet by 10.3% during the 1st quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock worth $330,000 after acquiring an additional 11 shares in the last quarter. Finally, Stonebridge Capital Advisors LLC grew its holdings in shares of Alphabet by 1.4% in the 1st quarter. Stonebridge Capital Advisors LLC now owns 1,182 shares of the information services provider’s stock worth $3,301,000 after acquiring an additional 16 shares during the last quarter. 27.17% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In other news, SVP Prabhakar Raghavan sold 16,083 shares of Alphabet stock in a transaction that occurred on 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 $15,282,738.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CAO Amie Thuener O’toole sold 637 shares of the stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $107.51, for a total value of $68,483.87. Following the completion of the sale, the chief accounting officer now directly owns 25,937 shares of the company’s stock, valued at $2,788,486.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Prabhakar Raghavan sold 16,083 shares of the business’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $120.31, for a total transaction of $1,934,945.73. Following the transaction, the senior vice president now directly owns 127,028 shares in the company, valued at approximately $15,282,738.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 832,682 shares of company stock worth $26,077,123. 12.99% of the stock is currently owned by insiders.
Alphabet Stock Down 0.7 %
Alphabet (NASDAQ:GOOG – Free Report) last posted its earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share 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 analyst estimates of $68.80 billion. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. The business’s revenue was up 2.6% compared to the same quarter last year. During the same period last year, the company earned $1.23 earnings per share. Sell-side analysts forecast that Alphabet Inc. will post 5.39 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
GOOG has been the subject of a number of recent analyst reports. Robert W. Baird increased their price target on Alphabet from $120.00 to $123.00 in a research report on Wednesday, April 26th. Raymond James lifted their target price on shares of Alphabet from $119.00 to $130.00 in a research report on Wednesday, April 26th. Oppenheimer reduced their price target on shares of Alphabet from $155.00 to $135.00 in a research report on Monday, April 24th. UBS Group boosted their target price on shares of Alphabet from $120.00 to $123.00 and gave the company a “buy” rating in a research note on Thursday, April 6th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Alphabet from $120.00 to $125.00 in a research report on Wednesday, April 26th. One investment analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $131.77.
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.
Recommended Stories
- Five stocks we like better than Alphabet
- Pfizer Just Invested $25 million In This Biotech
- Cracks In The Labor Market? Not Yet, But They’re Coming
- Levi’s: Buy On The Dip Or Downtrend In Play?
- Who Wins And Who Loses With China’s Metal Restrictions
- 3 Large Semiconductor Makers Offering Dividends & Price Growth
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.
