Xcel Wealth Management LLC raised its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 0.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 123,940 shares of the information services provider’s stock after purchasing an additional 780 shares during the quarter. Alphabet comprises 4.5% of Xcel Wealth Management LLC’s investment portfolio, making the stock its 3rd biggest position. Xcel Wealth Management LLC’s holdings in Alphabet were worth $12,856,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently bought and sold shares of GOOGL. Spreng Capital Management Inc. increased its position in shares of Alphabet by 4.0% in the 1st quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock valued at $364,000 after purchasing an additional 5 shares during the last quarter. West Family Investments Inc. grew its holdings in shares of Alphabet by 0.3% during the first quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock worth $4,878,000 after purchasing an additional 6 shares during the last quarter. Maple Capital Management Inc. increased its position in shares of Alphabet by 2.1% during the first quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock worth $823,000 after purchasing an additional 6 shares in the last quarter. Private Advisory Group LLC lifted its holdings in shares of Alphabet by 1.8% in the 1st quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock valued at $1,115,000 after purchasing an additional 7 shares during the last quarter. Finally, Weik Capital Management boosted its position in shares of Alphabet by 0.5% in the 1st quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock valued at $4,264,000 after purchasing an additional 8 shares during the period. 35.38% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms have commented on GOOGL. StockNews.com began coverage on Alphabet in a research report on Thursday, May 18th. They set a “buy” rating on the stock. Roth Mkm lifted their target price on shares of Alphabet from $126.00 to $134.00 and gave the company a “buy” rating in a report on Wednesday, April 26th. Robert W. Baird increased their price target on shares of Alphabet from $120.00 to $123.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 26th. Sanford C. Bernstein lowered shares of Alphabet from an “outperform” rating to a “market perform” rating and set a $125.00 price objective on the stock. in a research note on Tuesday, June 27th. Finally, Citigroup increased their target price on shares of Alphabet from $120.00 to $130.00 in a research note on Wednesday, April 26th. Seven research analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $131.53.
Alphabet Stock Down 0.7 %
Alphabet (NASDAQ:GOOGL – Get Free Report) last issued its quarterly earnings data on Tuesday, April 25th. The information services provider reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.11. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. The business had revenue of $69.79 billion for the quarter, compared to the consensus estimate of $57.19 billion. During the same period in the prior year, the business earned $1.23 earnings per share. As a group, equities research analysts forecast that Alphabet Inc. will post 5.39 earnings per share for the current fiscal year.
Insider Activity at Alphabet
In related news, Director John L. Hennessy sold 200 shares of the company’s 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 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director John L. Hennessy sold 200 shares of the company’s 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 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 27,290 shares of the company’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $12.72, for a total value of $347,128.80. Following the completion of the transaction, the insider now owns 10,958,925 shares of the company’s stock, valued at $139,397,526. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 841,688 shares of company stock worth $29,376,932. 0.88% of the stock is currently owned by insiders.
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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