Alpha Cubed Investments LLC lifted its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 43.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 360,840 shares of the information services provider’s stock after acquiring an additional 109,629 shares during the period. Alphabet accounts for approximately 2.7% of Alpha Cubed Investments LLC’s investment portfolio, making the stock its 3rd biggest holding. Alpha Cubed Investments LLC’s holdings in Alphabet were worth $37,430,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOGL. VitalStone Financial LLC purchased a new position in shares of Alphabet during the fourth quarter worth $25,000. Live Oak Investment Partners acquired a new stake in Alphabet during the 4th quarter worth about $26,000. Sanctuary Wealth Management L.L.C. purchased a new position in shares of Alphabet during the 4th quarter valued at about $34,000. Turim 21 Investimentos Ltda. acquired a new position in shares of Alphabet in the 3rd quarter valued at about $38,000. Finally, IAG Wealth Partners LLC boosted its stake in shares of Alphabet by 100.0% in the first quarter. IAG Wealth Partners LLC now owns 400 shares of the information services provider’s stock worth $41,000 after buying an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 35.38% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on the company. Loop Capital downgraded Alphabet from a “buy” rating to a “hold” rating and set a $125.00 price target for the company. in a report on Monday, May 15th. Raymond James increased their price target on shares of Alphabet from $119.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, April 26th. Roth Mkm lifted their price objective on shares of Alphabet from $126.00 to $134.00 and gave the company a “buy” rating in a report on Wednesday, April 26th. StockNews.com assumed coverage on shares of Alphabet in a research note on Thursday, May 18th. They set a “buy” rating on the stock. Finally, Piper Sandler lifted their price target on Alphabet from $128.00 to $140.00 in a research note on Wednesday, July 5th. Six equities research analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $132.21.
Alphabet Stock Performance
Alphabet (NASDAQ:GOOGL – Get Free Report) last posted its quarterly earnings data on Tuesday, April 25th. The information services provider reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.11. The firm had revenue of $69.79 billion during the quarter, compared to analysts’ expectations of $57.19 billion. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. During the same quarter last year, the company posted $1.23 EPS. Analysts forecast that Alphabet Inc. will post 5.39 EPS for the current year.
Insider Activity
In related news, Director John L. Hennessy sold 200 shares of the 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 transaction, the director now owns 5,740 shares of the company’s stock, valued at approximately $721,231. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director John L. Hennessy sold 200 shares of the stock in a transaction dated 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 owns 5,740 shares of the company’s stock, valued at $721,231. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder 2021 Gp L.L.C. Gv acquired 309,931 shares of the company’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was acquired at an average price of $28.34 per share, with a total value of $8,783,444.54. Following the acquisition, the insider now directly owns 2,243,665 shares of the company’s stock, valued at approximately $63,585,466.10. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 841,688 shares of company stock valued at $29,376,932. 0.88% of the stock is currently owned by corporate insiders.
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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