Penn Davis Mcfarland Inc. decreased its position in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 0.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 508,538 shares of the information services provider’s stock after selling 1,149 shares during the period. Alphabet comprises 9.7% of Penn Davis Mcfarland Inc.’s portfolio, making the stock its largest holding. Penn Davis Mcfarland Inc.’s holdings in Alphabet were worth $52,888,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Totem Point Management LLC boosted its holdings in Alphabet by 22.0% during the first quarter. Totem Point Management LLC now owns 3,171 shares of the information services provider’s stock worth $8,857,000 after buying an additional 571 shares in the last quarter. Somerville Kurt F boosted its holdings in Alphabet by 10.3% during the first quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock worth $330,000 after buying an additional 11 shares in the last quarter. BCK Partners Inc. purchased a new stake in Alphabet during the first quarter worth about $2,564,000. Hall Capital Management Co. Inc. boosted its holdings in Alphabet by 53.2% during the first quarter. Hall Capital Management Co. Inc. now owns 144 shares of the information services provider’s stock worth $402,000 after buying an additional 50 shares in the last quarter. Finally, Fairfield Bush & CO. boosted its holdings in Alphabet by 6.8% during the first quarter. Fairfield Bush & CO. now owns 3,370 shares of the information services provider’s stock worth $9,412,000 after buying an additional 214 shares in the last quarter. Hedge funds and other institutional investors own 27.17% of the company’s stock.
Insiders Place Their Bets
In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv acquired 309,931 shares of the firm’s stock in a transaction on Wednesday, May 3rd. The stock was bought at an average cost of $28.34 per share, for a total transaction of $8,783,444.54. Following the completion of the purchase, the insider now directly owns 2,243,665 shares in the company, valued at $63,585,466.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Amie Thuener O’toole sold 637 shares of the company’s stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $107.51, for a total value of $68,483.87. Following the completion of the transaction, the chief accounting officer now directly owns 25,937 shares in the company, valued at $2,788,486.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder 2021 Gp L.L.C. Gv bought 309,931 shares of the firm’s stock in a transaction dated Wednesday, May 3rd. The stock was purchased at an average price of $28.34 per share, with a total value of $8,783,444.54. Following the completion of the purchase, the insider now directly owns 2,243,665 shares of the company’s stock, valued at approximately $63,585,466.10. The disclosure for this purchase can be found here. Insiders sold a total of 832,682 shares of company stock worth $26,077,123 over the last ninety days. 12.99% of the stock is owned by company insiders.
Alphabet Price Performance
Alphabet (NASDAQ:GOOG – Free Report) last released its quarterly earnings data on Tuesday, April 25th. The information services provider reported $1.17 earnings per share (EPS) 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 the consensus estimate of $68.80 billion. During the same period in the previous year, the firm earned $1.23 earnings per share. Alphabet’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, analysts expect that Alphabet Inc. will post 5.39 earnings per share for the current year.
Analyst Ratings Changes
GOOG has been the topic of several recent research reports. Raymond James upped their price target on shares of Alphabet from $119.00 to $130.00 in a report on Wednesday, April 26th. 92 Resources reaffirmed a “downgrade” rating on shares of Alphabet in a report on Monday, June 26th. Oppenheimer reduced their price target on shares of Alphabet from $155.00 to $135.00 in a report on Monday, April 24th. Robert W. Baird upped their price target on shares of Alphabet from $120.00 to $123.00 in a report on Wednesday, April 26th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Alphabet from $120.00 to $125.00 in a research report on Wednesday, April 26th. One research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price 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.
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