Fifth Third Wealth Advisors LLC bought a new position in Alphabet Inc. (NASDAQ:GOOG – Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,020 shares of the information services provider’s stock, valued at approximately $314,000.
Several other hedge funds have also modified their holdings of GOOG. Financial Advisors Network Inc. grew 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 worth $450,000 after purchasing an additional 7 shares during the period. Turim 21 Investimentos Ltda. grew its stake in Alphabet by 10.8% in the first quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock valued at $229,000 after acquiring an additional 8 shares during the period. West Michigan Advisors LLC grew its stake in Alphabet by 3.7% in the first 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 period. Somerville Kurt F grew its stake in Alphabet by 10.3% in the first quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock valued at $330,000 after acquiring an additional 11 shares during the period. Finally, Stonebridge Capital Advisors LLC grew its stake in Alphabet by 1.4% in the first quarter. Stonebridge Capital Advisors LLC now owns 1,182 shares of the information services provider’s stock valued at $3,301,000 after acquiring an additional 16 shares during the period. 27.17% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other news, CAO Amie Thuener O’toole sold 637 shares of Alphabet stock in a transaction 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 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 document filed with the SEC, which is available through the SEC website. In related news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $125.65, for a total transaction of $25,130.00. Following the completion of the transaction, the director now directly owns 5,740 shares in the company, valued at $721,231. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Amie Thuener O’toole sold 637 shares of the business’s stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $107.51, for a total value of $68,483.87. Following the transaction, the chief accounting officer now owns 25,937 shares of the company’s stock, valued at $2,788,486.87. The disclosure for this sale can be found here. Over the last three months, insiders sold 864,122 shares of company stock worth $29,751,580. 12.99% of the stock is owned by corporate insiders.
Alphabet Stock Performance
Alphabet (NASDAQ:GOOG – Get Free Report) last announced its quarterly 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 during 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 quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.23 earnings per share. On average, equities research analysts forecast that Alphabet Inc. will post 5.39 EPS for the current year.
Analyst Ratings Changes
A number of brokerages have commented on GOOG. Robert W. Baird raised their price objective on Alphabet from $120.00 to $123.00 in a research note on Wednesday, April 26th. Deutsche Bank Aktiengesellschaft raised their price objective on Alphabet from $120.00 to $125.00 in a research note on Wednesday, April 26th. Raymond James raised their price objective on Alphabet from $119.00 to $130.00 in a research note on Wednesday, April 26th. Oppenheimer cut their target price on Alphabet from $155.00 to $135.00 in a research report on Monday, April 24th. Finally, UBS Group lifted their target price on Alphabet from $120.00 to $123.00 and gave the company a “buy” rating in a research report on Thursday, April 6th. One research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $131.14.
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.
Featured Articles
- Five stocks we like better than Alphabet
- Is It Time To Take Another Bite Of Chewy, Inc?
- GreenPower Motor Company Shifts Into High Gear
- Is the Microsoft Deal Driving Applied Optoelectronics 300% Gain?
- Can Unity Software Sustain The Momentum?
- Nvidia Invested $50 million into This AI Drug Discovery Biotech
Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOG – Free Report).
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.
