Legacy Advisors LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 1.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 57,941 shares of the information services provider’s stock after acquiring an additional 918 shares during the quarter. Alphabet accounts for 1.1% of Legacy Advisors LLC’s holdings, making the stock its 15th biggest position. Legacy Advisors LLC’s holdings in Alphabet were worth $6,010,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. FourThought Financial Partners LLC purchased a new stake in Alphabet during the fourth quarter worth $5,415,000. Glenview Trust Co boosted its holdings in Alphabet by 10.7% during the fourth quarter. Glenview Trust Co now owns 458,830 shares of the information services provider’s stock worth $40,483,000 after buying an additional 44,278 shares in the last quarter. Bfsg LLC boosted its holdings in Alphabet by 160.5% during the fourth quarter. Bfsg LLC now owns 8,075 shares of the information services provider’s stock worth $712,000 after buying an additional 4,975 shares in the last quarter. Marcum Wealth LLC boosted its holdings in Alphabet by 4.8% during the first quarter. Marcum Wealth LLC now owns 20,372 shares of the information services provider’s stock worth $2,113,000 after buying an additional 927 shares in the last quarter. Finally, Ibex Investors LLC purchased a new stake in Alphabet during the fourth quarter worth $2,617,000. Institutional investors and hedge funds own 35.38% of the company’s stock.
Insider Buying and Selling at Alphabet
In related news, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of Alphabet stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $14.13, for a total value of $1,423,908.36. Following the completion of the transaction, the insider now owns 11,421,476 shares in the company, valued at $161,385,455.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of Alphabet stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $14.13, for a total value of $1,423,908.36. Following the completion of the transaction, the insider now owns 11,421,476 shares in the company, valued at $161,385,455.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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. Insiders sold a total of 842,138 shares of company stock worth $29,433,836 over the last three months. Insiders own 0.88% of the company’s stock.
Alphabet Price Performance
Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its quarterly earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.12. Alphabet had a net margin of 21.05% and a return on equity of 23.49%. The business had revenue of $74.60 billion during the quarter, compared to analysts’ expectations of $60.24 billion. During the same period last year, the business earned $1.21 earnings per share. As a group, analysts forecast that Alphabet Inc. will post 5.49 EPS for the current year.
Wall Street Analyst Weigh In
GOOGL has been the topic of a number of recent analyst reports. Evercore ISI increased their price target on shares of Alphabet from $130.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday. JPMorgan Chase & Co. increased their price target on shares of Alphabet from $121.00 to $150.00 in a report on Wednesday. Wells Fargo & Company increased their price objective on shares of Alphabet from $116.00 to $121.00 in a report on Wednesday. UBS Group downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and increased their price objective for the company from $123.00 to $132.00 in a report on Monday, June 26th. Finally, Stifel Nicolaus increased their price objective on shares of Alphabet from $130.00 to $135.00 and gave the company a “buy” rating in a report on Friday, July 21st. Four research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $142.19.
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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