J.W. Cole Advisors Inc. grew its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 1.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,334 shares of the information services provider’s stock after acquiring an additional 1,016 shares during the period. J.W. Cole Advisors Inc.’s holdings in Alphabet were worth $5,740,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also modified their holdings of the business. Live Oak Investment Partners acquired a new stake in shares of Alphabet during the 4th quarter worth about $26,000. Sanctuary Wealth Management L.L.C. purchased a new position in Alphabet during the 4th quarter worth approximately $34,000. Turim 21 Investimentos Ltda. purchased a new position in shares of Alphabet in the 3rd quarter valued at approximately $38,000. IAG Wealth Partners LLC grew its stake in shares of Alphabet by 100.0% in the 1st quarter. IAG Wealth Partners LLC now owns 400 shares of the information services provider’s stock valued at $41,000 after purchasing an additional 200 shares during the last quarter. Finally, AM Squared Ltd purchased a new position in shares of Alphabet in the 4th quarter valued at approximately $44,000. Institutional investors and hedge funds own 35.38% of the company’s stock.
Insider Activity
In other news, Director Frances Arnold sold 230 shares of the stock in a transaction dated 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 sale, the director now owns 13,329 shares in the company, valued at $1,745,432.55. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Alphabet news, SVP Prabhakar Raghavan sold 16,083 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $120.31, for a total transaction of $1,934,945.73. Following the completion of the sale, the senior vice president now owns 127,028 shares in the company, valued at approximately $15,282,738.68. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Frances Arnold sold 230 shares of the firm’s stock in a transaction that occurred on 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 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 quarter, insiders sold 804,001 shares of company stock worth $25,426,352. 0.88% of the stock is currently owned by corporate insiders.
Alphabet Stock Performance
Alphabet (NASDAQ:GOOGL – Get Free Report) last posted its earnings results 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. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. The business had revenue of $74.60 billion during the quarter, compared to analyst estimates of $60.24 billion. During the same quarter last year, the firm earned $1.21 earnings per share. As a group, research analysts forecast that Alphabet Inc. will post 5.64 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on the company. Raymond James lifted their target price on Alphabet from $119.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday, April 26th. 51job reiterated a “downgrade” rating on shares of Alphabet in a research note on Tuesday, June 27th. Rosenblatt Securities lifted their price target on Alphabet from $132.00 to $163.00 and gave the company a “buy” rating in a research note on Wednesday, July 26th. Wolfe Research lifted their price objective on Alphabet from $130.00 to $140.00 in a report on Monday, July 10th. Finally, Stifel Nicolaus lifted their price objective on Alphabet from $130.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, July 21st. Four equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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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