Tevis Investment Management boosted its stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 8.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,522 shares of the information services provider’s stock after buying an additional 800 shares during the quarter. Tevis Investment Management’s holdings in Alphabet were worth $1,091,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Bornite Capital Management LP bought a new position in shares of Alphabet during the 1st quarter worth $16,688,000. Markel Corp grew its stake in shares of Alphabet by 17.0% during the 1st quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock worth $43,110,000 after acquiring an additional 2,250 shares during the period. United Bank grew its stake in shares of Alphabet by 5.9% during the 1st quarter. United Bank now owns 2,033 shares of the information services provider’s stock worth $5,654,000 after acquiring an additional 113 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Alphabet by 23.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock worth $900,929,000 after acquiring an additional 61,427 shares during the period. Finally, Dakota Wealth Management grew its stake in shares of Alphabet by 20.4% during the 1st quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock worth $25,806,000 after acquiring an additional 1,570 shares during the period. 35.38% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
GOOGL has been the subject of several research reports. TD Cowen increased their price target on Alphabet from $130.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, July 13th. 51job reaffirmed a “downgrade” rating on shares of Alphabet in a report on Tuesday, June 27th. Rosenblatt Securities raised their price objective on Alphabet from $132.00 to $163.00 and gave the company a “buy” rating in a report on Wednesday, July 26th. Stifel Nicolaus raised their price objective on Alphabet from $130.00 to $135.00 and gave the company a “buy” rating in a report on Friday, July 21st. Finally, Roth Mkm raised their price objective on Alphabet from $126.00 to $134.00 and gave the company a “buy” rating in a report on Wednesday, April 26th. Four analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $142.19.
Alphabet Stock Up 0.1 %
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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.12. The business had revenue of $74.60 billion during the quarter, compared to analysts’ expectations of $60.24 billion. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. During the same quarter in the previous year, the business earned $1.21 earnings per share. On average, research analysts anticipate that Alphabet Inc. will post 5.62 earnings per share for the current fiscal year.
Insider Buying and Selling at Alphabet
In other news, Director Kavitark Ram Shriram sold 37,500 shares of the business’s stock in a transaction on Friday, May 5th. The stock was sold at an average price of $105.04, for a total value of $3,939,000.00. Following the completion of the transaction, the director now owns 107,240 shares in the company, valued at $11,264,489.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Kavitark Ram Shriram sold 37,500 shares of the business’s stock in a transaction on Friday, May 5th. The stock was sold at an average price of $105.04, for a total value of $3,939,000.00. Following the completion of the transaction, the director now owns 107,240 shares in the company, valued at $11,264,489.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frances Arnold sold 230 shares of the business’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $130.95, for a total value of $30,118.50. Following the completion of the transaction, the director now owns 13,329 shares of the company’s stock, valued at approximately $1,745,432.55. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 841,501 shares of company stock worth $29,365,352. 0.88% of the stock is owned by insiders.
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.
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