Levy Wealth Management Group LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 104.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,892 shares of the information services provider’s stock after buying an additional 3,012 shares during the quarter. Levy Wealth Management Group LLC’s holdings in Alphabet were worth $611,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Live Oak Investment Partners acquired a new stake in Alphabet during the fourth quarter valued at approximately $26,000. Sanctuary Wealth Management L.L.C. acquired a new stake in Alphabet during the fourth quarter valued at approximately $34,000. Turim 21 Investimentos Ltda. acquired a new stake in Alphabet during the third quarter valued at approximately $38,000. IAG Wealth Partners LLC raised its stake in Alphabet by 100.0% during the first quarter. IAG Wealth Partners LLC now owns 400 shares of the information services provider’s stock valued at $41,000 after buying an additional 200 shares in the last quarter. Finally, AM Squared Ltd acquired a new stake in shares of Alphabet during the 4th quarter worth approximately $44,000. Institutional investors and hedge funds own 35.38% of the company’s stock.
Analysts Set New Price Targets
A number of analysts have recently weighed in on the company. Royal Bank of Canada increased their price target on Alphabet from $145.00 to $155.00 in a research report on Wednesday, July 26th. Evercore ISI increased their price target on Alphabet from $130.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 26th. Sanford C. Bernstein increased their price target on Alphabet from $130.00 to $135.00 in a research report on Wednesday, July 26th. Roth Mkm increased their price target on Alphabet from $126.00 to $134.00 and gave the stock a “buy” rating in a research report on Wednesday, April 26th. Finally, Needham & Company LLC increased their price target on Alphabet from $115.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, July 26th. Four research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $142.19.
Insider Transactions at Alphabet
In other news, major shareholder 2019 Gp L.L.C. Gv sold 157,952 shares of the firm’s stock in a transaction 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 filing with the SEC, which is accessible through this hyperlink. In other news, major shareholder 2019 Gp L.L.C. Gv sold 157,952 shares of the firm’s stock in a transaction 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 filing with the SEC, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 200 shares of the stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $125.65, for a total value of $25,130.00. Following the completion of the sale, the director now owns 5,740 shares of the company’s stock, valued at approximately $721,231. The disclosure for this sale can be found here. Insiders sold a total of 588,742 shares of company stock valued at $22,455,363 in the last three months. 0.88% of the stock is currently owned by corporate insiders.
Alphabet Stock Performance
GOOGL opened at $129.69 on Friday. The firm has a market cap of $1.64 trillion, a PE ratio of 27.48, a P/E/G ratio of 1.52 and a beta of 1.06. 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 fifty day simple moving average of $123.73 and a 200-day simple moving average of $110.84. Alphabet Inc. has a fifty-two week low of $83.34 and a fifty-two week high of $133.74.
Alphabet (NASDAQ:GOOGL – Get Free Report) last released its quarterly earnings data on Tuesday, July 25th. The information services provider reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.12. The business had revenue of $74.60 billion during the quarter, compared to analyst estimates 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 posted $1.21 EPS. As a group, equities analysts predict that Alphabet Inc. will post 5.64 EPS for the current fiscal year.
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 Stories
- Five stocks we like better than Alphabet
- How to Invest in Grocery Stores
- Alibaba Explodes On Earnings, Inching Toward Triple Digit Prices
- Dividend Payout Ratio Calculator
- Is It Time To Game The Roblox Market?
- How to Invest in Casino Stocks
- 2 Cheap Stocks The Insiders Are Buying
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.
