Citadel Investment Advisory Inc. trimmed its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 10.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 50,640 shares of the information services provider’s stock after selling 5,720 shares during the period. Alphabet makes up approximately 3.6% of Citadel Investment Advisory Inc.’s holdings, making the stock its 3rd biggest holding. Citadel Investment Advisory Inc.’s holdings in Alphabet were worth $5,253,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. DC Investments Management LLC purchased a new position in Alphabet in the first quarter valued at $114,000. Bridgefront Capital LLC purchased a new stake in Alphabet during the 1st quarter valued at about $225,000. Worth Asset Management LLC purchased a new stake in Alphabet during the 1st quarter valued at about $206,000. Eudaimonia Advisors LLC boosted its holdings in Alphabet by 15.1% in the 1st 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 acquired a new position in Alphabet in the 1st quarter valued at about $281,000. 35.38% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
GOOGL has been the topic of several recent analyst reports. StockNews.com initiated coverage on shares of Alphabet in a report on Thursday, May 18th. They issued a “buy” rating on the stock. JMP Securities upped their target price on shares of Alphabet from $132.00 to $138.00 and gave the stock a “market outperform” rating in a research note on Wednesday. Raymond James upped their target price on shares of Alphabet from $119.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 26th. Rosenblatt Securities upped their target price on shares of Alphabet from $132.00 to $163.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Truist Financial upped their target price on shares of Alphabet from $122.00 to $160.00 in a research note on Wednesday. Four research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $142.19.
Alphabet Stock Up 0.1 %
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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.12. Alphabet had a return on equity of 23.73% and a net margin of 21.05%. The business had revenue of $74.60 billion during the quarter, compared to analysts’ expectations of $60.24 billion. During the same period in the previous year, the business posted $1.21 earnings per share. On average, analysts anticipate that Alphabet Inc. will post 5.39 EPS for the current year.
Insiders Place Their Bets
In other Alphabet news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 5,740 shares in the company, valued at approximately $721,231. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CAO Amie Thuener O’toole sold 637 shares of the firm’s stock in a transaction dated Tuesday, May 2nd. The stock was 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 directly owns 25,937 shares in the company, valued at $2,788,486.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction that occurred 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 sale, the director now owns 5,740 shares of the company’s stock, valued at $721,231. The disclosure for this sale can be found here. In the last three months, insiders sold 841,908 shares of company stock valued at $29,403,717. 0.88% of the stock is currently owned by 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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