Ameritas Advisory Services LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 20.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,559 shares of the information services provider’s stock after selling 9,937 shares during the quarter. Ameritas Advisory Services LLC’s holdings in Alphabet were worth $4,159,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of GOOGL. Bornite Capital Management LP purchased a new stake in Alphabet in the 1st quarter valued at $16,688,000. Markel Corp raised its position in Alphabet by 17.0% in the 1st quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock valued at $43,110,000 after purchasing an additional 2,250 shares in the last quarter. United Bank increased its holdings in shares of Alphabet by 5.9% in the 1st quarter. United Bank now owns 2,033 shares of the information services provider’s stock valued at $5,654,000 after acquiring an additional 113 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Alphabet by 23.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock valued at $900,929,000 after acquiring an additional 61,427 shares during the last quarter. Finally, Dakota Wealth Management increased its holdings in shares of Alphabet by 20.4% in the 1st quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock valued at $25,806,000 after acquiring an additional 1,570 shares during the last quarter. Institutional investors and hedge funds own 35.38% of the company’s stock.
Insider Buying and Selling at Alphabet
In other news, CAO Amie Thuener O’toole sold 637 shares of Alphabet stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $107.51, for a total transaction of $68,483.87. Following the transaction, the chief accounting officer now 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, SVP Prabhakar Raghavan sold 16,083 shares of the business’s 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 transaction, the senior vice president now directly owns 127,028 shares in the company, valued at $15,282,738.68. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 637 shares of the business’s stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $107.51, for a total transaction of $68,483.87. Following the completion of the transaction, the chief accounting officer now owns 25,937 shares in the company, valued at $2,788,486.87. The disclosure for this sale can be found here. Insiders have sold 841,688 shares of company stock worth $29,376,932 over the last quarter. Corporate insiders own 0.88% of the company’s stock.
Alphabet Trading Up 5.8 %
Alphabet (NASDAQ:GOOGL – Get Free Report) last released its quarterly earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.12. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. The firm had revenue of $74.60 billion for the quarter, compared to analysts’ expectations of $60.24 billion. During the same period in the prior year, the firm earned $1.21 EPS. On average, equities analysts expect that Alphabet Inc. will post 5.39 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on GOOGL shares. Wolfe Research lifted their target price on Alphabet from $130.00 to $140.00 in a research note on Monday, July 10th. Evercore ISI lifted their price objective on Alphabet from $130.00 to $160.00 in a report on Wednesday. Needham & Company LLC lifted their price objective on Alphabet from $115.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday. KeyCorp lifted their price objective on Alphabet from $140.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, 888 reaffirmed a “downgrade” rating on shares of Alphabet in a report on Monday, June 26th. Four research analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $141.86.
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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