Sterling Investment Advisors Ltd. lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 2.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 69,959 shares of the information services provider’s stock after acquiring an additional 1,705 shares during the period. Alphabet accounts for approximately 2.4% of Sterling Investment Advisors Ltd.’s portfolio, making the stock its 9th biggest position. Sterling Investment Advisors Ltd.’s holdings in Alphabet were worth $7,257,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of GOOGL. Quattro Financial Advisors LLC raised its position in Alphabet by 16.7% in the first quarter. Quattro Financial Advisors LLC now owns 35,000 shares of the information services provider’s stock valued at $3,631,000 after purchasing an additional 5,000 shares during the period. Rowland & Co. Investment Counsel ADV raised its holdings in Alphabet by 14.9% in the 1st quarter. Rowland & Co. Investment Counsel ADV now owns 2,318 shares of the information services provider’s stock valued at $240,000 after buying an additional 300 shares during the period. Busey Wealth Management raised its holdings in Alphabet by 1.5% in the 1st quarter. Busey Wealth Management now owns 194,565 shares of the information services provider’s stock valued at $20,182,000 after buying an additional 2,823 shares during the period. Hendershot Investments Inc. boosted its stake in Alphabet by 1.9% during the first quarter. Hendershot Investments Inc. now owns 188,049 shares of the information services provider’s stock worth $19,506,000 after buying an additional 3,426 shares during the period. Finally, Chesapeake Wealth Management increased its position in shares of Alphabet by 1.1% during the first quarter. Chesapeake Wealth Management now owns 31,648 shares of the information services provider’s stock valued at $3,283,000 after acquiring an additional 357 shares during the last quarter. Institutional investors and hedge funds own 35.38% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on GOOGL. 51job restated a “downgrade” rating on shares of Alphabet in a report on Tuesday, June 27th. Tigress Financial raised their price target on Alphabet from $160.00 to $172.00 and gave the stock a “strong-buy” rating in a research report on Friday. Bank of America lifted their price objective on Alphabet from $125.00 to $128.00 and gave the company a “buy” rating in a research note on Wednesday, April 26th. Sanford C. Bernstein lowered Alphabet from an “outperform” rating to a “market perform” rating and set a $125.00 target price on the stock. in a research note on Tuesday, June 27th. Finally, Morgan Stanley lifted their target price on Alphabet from $135.00 to $140.00 and gave the company an “overweight” rating in a research report on Wednesday, April 26th. Seven equities research analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $130.92.
Alphabet Trading Down 0.6 %
Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.11. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. The business had revenue of $69.79 billion for the quarter, compared to analyst estimates of $57.19 billion. During the same period last year, the firm posted $1.23 earnings per share. On average, research analysts anticipate that Alphabet Inc. will post 5.39 EPS for the current year.
Insider Buying and Selling at Alphabet
In other news, SVP Prabhakar Raghavan sold 16,083 shares of the stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $120.31, for a total transaction of $1,934,945.73. Following the completion of the sale, the senior vice president now owns 127,028 shares in the company, valued at $15,282,738.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Alphabet news, SVP Prabhakar Raghavan sold 16,083 shares of the stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $120.31, for a total transaction of $1,934,945.73. Following the completion of the sale, the senior vice president now directly owns 127,028 shares of the company’s stock, valued at approximately $15,282,738.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 value of $25,130.00. Following the completion of the transaction, the director now owns 5,740 shares in the company, valued at $721,231. The disclosure for this sale can be found here. Over the last three months, insiders have sold 841,688 shares of company stock worth $29,376,932. 0.88% of the stock is owned by company insiders.
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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