McKinley Carter Wealth Services Inc. grew its stake in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 2.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,760 shares of the information services provider’s stock after buying an additional 100 shares during the quarter. McKinley Carter Wealth Services Inc.’s holdings in Alphabet were worth $391,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of GOOG. Machina Capital S.A.S. acquired a new position in Alphabet in the 1st quarter worth about $288,000. K.J. Harrison & Partners Inc raised its holdings in Alphabet by 53.3% in the 1st quarter. K.J. Harrison & Partners Inc now owns 124,050 shares of the information services provider’s stock worth $12,901,000 after purchasing an additional 43,130 shares during the period. Asset Management One Co. Ltd. raised its holdings in Alphabet by 0.6% in the 1st quarter. Asset Management One Co. Ltd. now owns 2,384,300 shares of the information services provider’s stock worth $247,967,000 after purchasing an additional 15,133 shares during the period. Berger Financial Group Inc raised its holdings in Alphabet by 0.8% in the 1st quarter. Berger Financial Group Inc now owns 15,089 shares of the information services provider’s stock worth $1,569,000 after purchasing an additional 126 shares during the period. Finally, Richard W. Paul & Associates LLC raised its holdings in Alphabet by 10.4% in the 1st quarter. Richard W. Paul & Associates LLC now owns 12,928 shares of the information services provider’s stock worth $1,345,000 after purchasing an additional 1,215 shares during the period. Institutional investors and hedge funds own 27.17% of the company’s stock.
Analyst Ratings Changes
A number of research firms recently weighed in on GOOG. Robert W. Baird upped their price target on Alphabet from $120.00 to $123.00 in a report on Wednesday, April 26th. Raymond James boosted their price objective on Alphabet from $119.00 to $130.00 in a research note on Wednesday, April 26th. Deutsche Bank Aktiengesellschaft boosted their price objective on Alphabet from $120.00 to $125.00 in a research note on Wednesday, April 26th. UBS Group boosted their price objective on Alphabet from $120.00 to $123.00 and gave the stock a “buy” rating in a research note on Thursday, April 6th. Finally, Oppenheimer cut their price objective on Alphabet from $155.00 to $135.00 in a research note on Monday, April 24th. One investment analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.77.
Alphabet Stock Up 1.6 %
Alphabet (NASDAQ:GOOG – Get Free Report) last released its quarterly earnings results on Tuesday, April 25th. The information services provider reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.11. The company had revenue of $69.79 billion for the quarter, compared to analysts’ expectations of $68.80 billion. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. The firm’s revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.23 earnings per share. Research analysts anticipate that Alphabet Inc. will post 5.39 EPS for the current year.
Insider Activity
In other news, Director John L. Hennessy sold 200 shares of the stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $125.65, for a total value of $25,130.00. Following the sale, the director now directly owns 5,740 shares in the company, valued at $721,231. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director John L. Hennessy sold 200 shares of the stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $125.65, for a total value of $25,130.00. Following the sale, the director now directly owns 5,740 shares in the company, valued at $721,231. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of the stock in a transaction on Monday, May 8th. The shares were sold at an average price of $14.13, for a total value of $1,423,908.36. Following the completion of the transaction, the insider now directly owns 11,421,476 shares in the company, valued at approximately $161,385,455.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 832,682 shares of company stock worth $26,077,123. Corporate insiders own 12.99% 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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