Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 0.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,061,280 shares of the information services provider’s stock after acquiring an additional 2,665 shares during the quarter. Alphabet makes up about 3.6% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s investment portfolio, making the stock its 7th largest position. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Alphabet were worth $317,547,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in GOOGL. DC Investments Management LLC purchased a new stake in Alphabet in the first quarter valued at about $114,000. Bridgefront Capital LLC purchased a new position in shares of Alphabet in the first quarter worth $225,000. Worth Asset Management LLC acquired a new stake in shares of Alphabet during the first quarter worth $206,000. Eudaimonia Advisors LLC grew its holdings in shares of Alphabet by 15.1% during the first quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock valued at $275,000 after buying an additional 13 shares during the last quarter. Finally, Aspire Capital Advisors LLC acquired a new position in shares of Alphabet in the 1st quarter valued at $281,000. Hedge funds and other institutional investors own 35.38% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts have weighed in on GOOGL shares. Royal Bank of Canada boosted their price target on Alphabet from $145.00 to $155.00 in a research note on Wednesday, July 26th. JPMorgan Chase & Co. lifted their price objective on shares of Alphabet from $121.00 to $150.00 in a research note on Wednesday, July 26th. KeyCorp increased their price objective on shares of Alphabet from $140.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 26th. Rosenblatt Securities increased their price target on Alphabet from $132.00 to $163.00 and gave the stock a “buy” rating in a research report on Wednesday, July 26th. Finally, Oppenheimer boosted their price objective on Alphabet from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Wednesday, April 26th. Four investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $142.19.
Alphabet Stock Performance
Alphabet (NASDAQ:GOOGL – Get Free Report) last released its earnings results on Tuesday, July 25th. The information services provider reported $1.44 EPS 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 analysts’ expectations of $60.24 billion. During the same quarter last year, the business earned $1.21 EPS. On average, equities research analysts expect that Alphabet Inc. will post 5.62 earnings per share for the current year.
Insiders Place Their Bets
In other news, Director Kavitark Ram Shriram sold 37,500 shares of Alphabet stock in a transaction that occurred on Friday, May 5th. The shares were sold at an average price of $105.04, for a total transaction of $3,939,000.00. Following the completion of the sale, the director now directly owns 107,240 shares in the company, valued at approximately $11,264,489.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Kavitark Ram Shriram sold 37,500 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 107,240 shares of the company’s stock, valued at approximately $11,264,489.60. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder 2021 Gp L.L.C. Gv purchased 309,931 shares of the company’s stock in a transaction on Wednesday, May 3rd. The shares were bought at an average cost of $28.34 per share, with a total value of $8,783,444.54. Following the transaction, 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. In the last ninety days, insiders have sold 841,501 shares of company stock worth $29,365,352. Corporate insiders own 0.88% of the company’s stock.
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.
Featured Articles
- Five stocks we like better than Alphabet
- Retail Stocks Investing, Explained
- Can the Amazon Partnership Put DISH Network Back on Track?
- Trading Halts Explained
- Snap Stock: Two Steps Forward and One Step Back In?
- How to Invest in Toy Stocks
- ONSemi Is On Target For New Highs In 2023
Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL – Free Report).
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.
