Parkside Financial Bank & Trust raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 7.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,713 shares of the information services provider’s stock after purchasing an additional 887 shares during the period. Parkside Financial Bank & Trust’s holdings in Alphabet were worth $1,319,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in GOOGL. Spreng Capital Management Inc. boosted its holdings in Alphabet by 4.0% in the first quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock valued at $364,000 after purchasing an additional 5 shares during the last quarter. West Family Investments Inc. boosted its holdings in Alphabet by 0.3% in the first quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock valued at $4,878,000 after purchasing an additional 6 shares during the last quarter. Maple Capital Management Inc. boosted its holdings in Alphabet by 2.1% in the first quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock valued at $823,000 after purchasing an additional 6 shares during the last quarter. Private Advisory Group LLC boosted its holdings in Alphabet by 1.8% in the first quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock valued at $1,115,000 after purchasing an additional 7 shares during the last quarter. Finally, Weik Capital Management boosted its holdings in Alphabet by 0.5% in the first quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock valued at $4,264,000 after purchasing an additional 8 shares during the last quarter. 35.38% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities research analysts have commented on GOOGL shares. Stifel Nicolaus upped their price target on shares of Alphabet from $130.00 to $135.00 and gave the company a “buy” rating in a report on Friday, July 21st. Raymond James upped their price target on shares of Alphabet from $119.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, April 26th. Royal Bank of Canada upped their price objective on shares of Alphabet from $145.00 to $155.00 in a research report on Wednesday, July 26th. Citigroup upped their price objective on shares of Alphabet from $130.00 to $153.00 in a research report on Wednesday, July 26th. Finally, The Goldman Sachs Group upped their price objective on shares of Alphabet from $132.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, July 17th. Four investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.19.
Insider Buying and Selling at Alphabet
In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 87,397 shares of the firm’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $14.03, for a total value of $1,226,179.91. Following the completion of the transaction, the insider now owns 11,012,841 shares of the company’s stock, valued at approximately $154,510,159.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 87,397 shares of the firm’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $14.03, for a total value of $1,226,179.91. Following the completion of the transaction, the insider now owns 11,012,841 shares of the company’s stock, valued at approximately $154,510,159.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 31,240 shares of Alphabet stock in a transaction on Monday, July 10th. The stock was sold at an average price of $116.82, for a total transaction of $3,649,456.80. Following the sale, the director now directly owns 5,364 shares of the company’s stock, valued at $626,622.48. The disclosure for this sale can be found here. Insiders sold 703,229 shares of company stock valued at $24,002,443 in the last 90 days. Company insiders own 0.88% of the company’s stock.
Alphabet Stock Up 2.7 %
Shares of NASDAQ GOOGL opened at $131.53 on Tuesday. The company has a 50 day simple moving average of $123.31 and a 200-day simple moving average of $110.20. The company has a market capitalization of $1.66 trillion, a P/E ratio of 27.87, a P/E/G ratio of 1.48 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.
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 for the quarter, beating 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 firm had revenue of $74.60 billion during the quarter, compared to the consensus estimate of $60.24 billion. During the same quarter last year, the firm earned $1.21 EPS. On average, equities research analysts predict that Alphabet Inc. will post 5.64 earnings per share for the current year.
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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