RFP Financial Group LLC trimmed its holdings in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 91.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,484 shares of the information services provider’s stock after selling 15,158 shares during the quarter. RFP Financial Group LLC’s holdings in Alphabet were worth $154,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Financial Advisors Network Inc. raised its stake in Alphabet by 4.5% in the 1st quarter. Financial Advisors Network Inc. now owns 161 shares of the information services provider’s stock worth $450,000 after acquiring an additional 7 shares during the last quarter. Turim 21 Investimentos Ltda. raised its stake in Alphabet by 10.8% in the 1st quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock worth $229,000 after acquiring an additional 8 shares during the last quarter. West Michigan Advisors LLC raised its stake in Alphabet by 3.7% in the 1st quarter. West Michigan Advisors LLC now owns 252 shares of the information services provider’s stock worth $704,000 after acquiring an additional 9 shares during the last quarter. Somerville Kurt F raised its stake in Alphabet by 10.3% in 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 during the last quarter. Finally, Stonebridge Capital Advisors LLC raised its stake in 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 hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on GOOG shares. Robert W. Baird lifted their price objective on Alphabet from $120.00 to $123.00 in a research note on Wednesday, April 26th. Raymond James lifted their price objective on Alphabet from $119.00 to $130.00 in a research note on Wednesday, April 26th. UBS Group lifted their price objective on Alphabet from $120.00 to $123.00 and gave the company a “buy” rating in a research note on Thursday, April 6th. Oppenheimer reduced their price objective on Alphabet from $155.00 to $135.00 in a research note on Monday, April 24th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Alphabet from $120.00 to $125.00 in a research note on Wednesday, April 26th. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $131.14.
Alphabet Trading Up 0.7 %
Alphabet (NASDAQ:GOOG – Get Free Report) last issued 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 business 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 business’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.23 EPS. On average, sell-side analysts anticipate that Alphabet Inc. will post 5.39 EPS for the current fiscal year.
Insider Transactions at Alphabet
In other news, major shareholder 2019 Gp L.L.C. Gv sold 27,290 shares of the business’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 transaction of $347,128.80. Following the transaction, the insider now directly owns 10,958,925 shares in the company, valued at approximately $139,397,526. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, major shareholder 2019 Gp L.L.C. Gv sold 27,290 shares of the business’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 transaction of $347,128.80. Following the transaction, the insider now directly owns 10,958,925 shares in the company, valued at approximately $139,397,526. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $125.65, for a total transaction of $25,130.00. Following the sale, the director now directly owns 5,740 shares in the company, valued at approximately $721,231. The disclosure for this sale can be found here. Insiders have sold a total of 864,122 shares of company stock worth $29,751,580 in the last ninety days. Insiders own 12.99% of the company’s stock.
Alphabet Company 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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