Davidson Investment Advisors reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 6.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,390 shares of the information services provider’s stock after selling 370 shares during the period. Davidson Investment Advisors’ holdings in Alphabet were worth $559,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in GOOGL. Bornite Capital Management LP acquired a new position in Alphabet during the first quarter worth about $16,688,000. Markel Corp grew its position in shares of Alphabet by 17.0% in the first 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 during the last quarter. United Bank grew its position in shares of Alphabet by 5.9% in the first quarter. United Bank now owns 2,033 shares of the information services provider’s stock valued at $5,654,000 after purchasing an additional 113 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Alphabet by 23.4% in the first 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 purchasing an additional 61,427 shares during the last quarter. Finally, Dakota Wealth Management grew its position in shares of Alphabet by 20.4% in the first quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock valued at $25,806,000 after purchasing an additional 1,570 shares during the last quarter. 35.38% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In related news, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $130.95, for a total value of $30,118.50. Following the sale, the director now directly owns 13,329 shares in the company, valued at approximately $1,745,432.55. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Alphabet news, Director Frances Arnold sold 230 shares of the business’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $130.95, for a total transaction of $30,118.50. Following the sale, the director now directly owns 13,329 shares in the company, valued at approximately $1,745,432.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 37,500 shares of the business’s stock in a transaction dated Friday, May 5th. The stock was sold at an average price of $105.04, for a total transaction of $3,939,000.00. Following the sale, the director now owns 107,240 shares in the company, valued at $11,264,489.60. The disclosure for this sale can be found here. In the last three months, insiders sold 841,501 shares of company stock valued at $29,365,352. Company insiders own 0.88% of the company’s stock.
Analyst Upgrades and Downgrades
Alphabet Price Performance
Shares of GOOGL stock opened at $132.72 on Tuesday. The firm has a market cap of $1.69 trillion, a P/E ratio of 28.12, a P/E/G ratio of 1.59 and a beta of 1.06. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.17 and a quick ratio of 2.14. Alphabet Inc. has a 1-year low of $83.34 and a 1-year high of $133.74. The firm has a fifty day moving average of $122.81 and a two-hundred day moving average of $109.15.
Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its quarterly earnings data on Tuesday, July 25th. The information services provider reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.12. Alphabet had a net margin of 21.05% and a return on equity of 23.49%. The company had revenue of $74.60 billion during the quarter, compared to analyst estimates of $60.24 billion. During the same period last year, the business earned $1.21 EPS. As a group, research analysts anticipate that Alphabet Inc. will post 5.62 earnings per share for the current fiscal year.
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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