Tobam raised its stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 32.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,469 shares of the information services provider’s stock after acquiring an additional 3,066 shares during the period. Tobam’s holdings in Alphabet were worth $1,293,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of GOOGL. MTM Investment Management LLC grew its holdings in shares of Alphabet by 5.1% during the first quarter. MTM Investment Management LLC now owns 3,070 shares of the information services provider’s stock worth $318,000 after purchasing an additional 150 shares during the last quarter. Flynn Zito Capital Management LLC grew its holdings in shares of Alphabet by 6.6% during the first quarter. Flynn Zito Capital Management LLC now owns 3,559 shares of the information services provider’s stock worth $369,000 after purchasing an additional 219 shares during the last quarter. WealthTrust Axiom LLC grew its holdings in shares of Alphabet by 9.0% during the first quarter. WealthTrust Axiom LLC now owns 3,400 shares of the information services provider’s stock worth $353,000 after purchasing an additional 280 shares during the last quarter. Pavion Blue Capital LLC grew its holdings in shares of Alphabet by 19.0% during the first quarter. Pavion Blue Capital LLC now owns 10,940 shares of the information services provider’s stock worth $1,135,000 after purchasing an additional 1,750 shares during the last quarter. Finally, Savant Capital LLC grew its holdings in shares of Alphabet by 15.3% during the first quarter. Savant Capital LLC now owns 76,264 shares of the information services provider’s stock worth $7,911,000 after purchasing an additional 10,115 shares during the last quarter. 35.38% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on GOOGL shares. Stifel Nicolaus upped their price target on Alphabet from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, July 21st. Robert W. Baird upped their price target on Alphabet from $123.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, July 21st. Tigress Financial upped their price target on Alphabet from $160.00 to $172.00 and gave the company a “strong-buy” rating in a research note on Friday, July 14th. TD Cowen upped their price target on Alphabet from $130.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, July 13th. Finally, Royal Bank of Canada upped their price target on Alphabet from $145.00 to $155.00 in a research note on Wednesday, July 26th. Four investment analysts have rated the stock with a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $142.19.
Alphabet Stock Down 2.4 %
GOOGL stock opened at $128.38 on Thursday. The company has a quick ratio of 2.14, a current ratio of 2.17 and a debt-to-equity ratio of 0.05. The business has a 50 day moving average price of $123.14 and a two-hundred day moving average price of $109.56. The company has a market cap of $1.63 trillion, a price-to-earnings ratio of 27.20, a P/E/G ratio of 1.58 and a beta of 1.06. Alphabet Inc. has a twelve month low of $83.34 and a twelve month high of $133.74.
Alphabet (NASDAQ:GOOGL – Get Free Report) last posted 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. The firm had revenue of $74.60 billion during the quarter, compared to the consensus estimate of $60.24 billion. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. During the same period last year, the company earned $1.21 earnings per share. Analysts anticipate that Alphabet Inc. will post 5.64 EPS for the current fiscal year.
Insider Activity
In other news, major shareholder 2019 Gp L.L.C. Gv sold 157,952 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $12.74, for a total value of $2,012,308.48. Following the completion of the sale, the insider now directly owns 10,800,973 shares of the company’s stock, valued at $137,604,396.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, major shareholder 2019 Gp L.L.C. Gv sold 157,952 shares of Alphabet stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $12.74, for a total transaction of $2,012,308.48. Following the completion of the sale, the insider now directly owns 10,800,973 shares of the company’s stock, valued at approximately $137,604,396.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Prabhakar Raghavan sold 16,083 shares of Alphabet stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $120.31, for a total value of $1,934,945.73. Following the sale, the senior vice president now directly owns 127,028 shares of the company’s stock, valued at $15,282,738.68. The disclosure for this sale can be found here. Insiders sold a total of 841,501 shares of company stock valued at $29,365,352 over the last three months. Insiders own 0.88% of the company’s stock.
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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