Community Bank N.A. boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 4.0% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 42,429 shares of the information services provider’s stock after acquiring an additional 1,639 shares during the period. Community Bank N.A.’s holdings in Alphabet were worth $4,401,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in GOOGL. DC Investments Management LLC purchased a new stake in shares of Alphabet during the first quarter worth $114,000. Bridgefront Capital LLC acquired a new position in Alphabet during the first quarter worth about $225,000. Worth Asset Management LLC purchased a new stake in Alphabet during the 1st quarter valued at about $206,000. Eudaimonia Advisors LLC raised its holdings in Alphabet by 15.1% in the 1st quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock valued at $275,000 after acquiring an additional 13 shares during the last quarter. Finally, Aspire Capital Advisors LLC purchased a new position in Alphabet in the 1st quarter worth approximately $281,000. 35.38% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research firms have recently issued reports on GOOGL. 1-800-FLOWERS.COM restated a “downgrade” rating on shares of Alphabet in a research report on Monday, May 15th. StockNews.com initiated coverage on Alphabet in a report on Thursday, May 18th. They set a “buy” rating on the stock. Jefferies Financial Group upped their price objective on shares of Alphabet from $130.00 to $150.00 in a report on Tuesday, May 23rd. Stifel Nicolaus began coverage on shares of Alphabet in a research note on Monday, March 20th. They set a “buy” rating and a $130.00 target price on the stock. Finally, Evercore ISI increased their price target on shares of Alphabet from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday, April 26th. Seven research analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $129.54.
Alphabet Trading Down 0.5 %
Alphabet (NASDAQ:GOOGL – Free Report) last posted its earnings results 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. The firm had revenue of $69.79 billion during the quarter, compared to analysts’ expectations 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 previous year, the business earned $1.23 earnings per share. As a group, analysts anticipate that Alphabet Inc. will post 5.39 earnings per share for the current fiscal year.
Insider Activity
In related news, major shareholder 2019 Gp L.L.C. Gv sold 27,290 shares of the business’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $12.72, for a total value of $347,128.80. Following the completion of the sale, the insider now directly owns 10,958,925 shares of the company’s stock, valued at $139,397,526. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, major shareholder 2021 Gp L.L.C. Gv purchased 309,931 shares of the company’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were purchased at an average price of $28.34 per share, for a total transaction of $8,783,444.54. Following the purchase, the insider now directly owns 2,243,665 shares of the company’s stock, valued at approximately $63,585,466.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 27,290 shares of the firm’s stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $12.72, for a total value of $347,128.80. Following the transaction, the insider now owns 10,958,925 shares in the company, valued at approximately $139,397,526. The disclosure for this sale can be found here. In the last quarter, insiders sold 810,248 shares of company stock worth $25,702,475. Corporate insiders own 0.88% of the company’s stock.
About Alphabet
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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