Aspiriant LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 1.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 83,680 shares of the information services provider’s stock after buying an additional 922 shares during the period. Aspiriant LLC’s holdings in Alphabet were worth $8,680,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of GOOGL. DC Investments Management LLC acquired a new stake in Alphabet during the first quarter valued at $114,000. Bridgefront Capital LLC acquired a new stake in Alphabet during the first quarter valued at $225,000. Worth Asset Management LLC acquired a new stake in Alphabet during the first quarter valued at $206,000. Eudaimonia Advisors LLC boosted its position in Alphabet by 15.1% during the first quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock valued at $275,000 after purchasing an additional 13 shares during the last quarter. Finally, Aspire Capital Advisors LLC bought a new position in Alphabet during the first quarter valued at about $281,000. Institutional investors and hedge funds own 35.38% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms have weighed in on GOOGL. Citigroup raised their target price on Alphabet from $120.00 to $130.00 in a report on Wednesday, April 26th. Oppenheimer raised their target price on Alphabet from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Wednesday, April 26th. Loop Capital lowered Alphabet from a “buy” rating to a “hold” rating and set a $125.00 target price on the stock. in a report on Monday, May 15th. Credit Suisse Group raised their target price on Alphabet from $135.00 to $150.00 and gave the company an “outperform” rating in a report on Monday, July 17th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $115.00 price objective on shares of Alphabet in a research note on Monday, April 3rd. Six research analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.21.
Alphabet Price Performance
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 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 analyst estimates of $57.19 billion. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. During the same period in the prior year, the business earned $1.23 EPS. Research analysts predict that Alphabet Inc. will post 5.39 earnings per share for the current fiscal year.
Insider Transactions 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 transaction, the senior vice president now directly owns 127,028 shares in the company, valued at approximately $15,282,738.68. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Kavitark Ram Shriram sold 31,240 shares of the firm’s stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $116.82, for a total value of $3,649,456.80. Following the completion of the sale, the director now directly owns 5,364 shares in the company, valued at approximately $626,622.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction, the senior vice president now directly owns 127,028 shares in the company, valued at $15,282,738.68. The disclosure for this sale can be found here. Insiders sold a total of 841,688 shares of company stock worth $29,376,932 in the last three months. Insiders own 0.88% of the company’s stock.
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.
Read More
- Five stocks we like better than Alphabet
- MarketBeat Week in Review – 7/17 – 7/21
- U.S. Bancorp Shares Rally As Analysts Get Bullish After Q2 Report
- AutoNation Beats Earnings Expectations, Stock Down?
- American Express Hiccups After Earnings, Time To Buy?
- ISRG Stock Sinks After Strong Earnings: Is the Growth Priced In?
Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL – 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.
