Saratoga Research & Investment Management lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 3.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 974,032 shares of the information services provider’s stock after purchasing an additional 29,134 shares during the quarter. Alphabet makes up about 4.8% of Saratoga Research & Investment Management’s investment portfolio, making the stock its 6th largest position. Saratoga Research & Investment Management’s holdings in Alphabet were worth $101,036,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of GOOGL. FourThought Financial Partners LLC bought a new stake in shares of Alphabet in the 4th quarter valued at approximately $5,415,000. Glenview Trust Co grew its position in Alphabet by 10.7% in the fourth quarter. Glenview Trust Co now owns 458,830 shares of the information services provider’s stock valued at $40,483,000 after acquiring an additional 44,278 shares during the period. Hallmark Capital Management Inc. raised its stake in Alphabet by 8.9% during the first quarter. Hallmark Capital Management Inc. now owns 167,148 shares of the information services provider’s stock worth $17,338,000 after acquiring an additional 13,605 shares in the last quarter. Bfsg LLC lifted its holdings in shares of Alphabet by 160.5% during the fourth quarter. Bfsg LLC now owns 8,075 shares of the information services provider’s stock valued at $712,000 after acquiring an additional 4,975 shares during the period. Finally, Marcum Wealth LLC boosted its stake in shares of Alphabet by 4.8% in the 1st quarter. Marcum Wealth LLC now owns 20,372 shares of the information services provider’s stock valued at $2,113,000 after purchasing an additional 927 shares in the last quarter. 35.38% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In other news, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $125.65, for a total transaction of $25,130.00. Following the completion of the transaction, the director now directly owns 5,740 shares of the company’s stock, valued at $721,231. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Alphabet news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $125.65, for a total value of $25,130.00. Following the sale, the director now owns 5,740 shares in the company, valued at approximately $721,231. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frances Arnold sold 230 shares of the firm’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $130.95, for a total transaction of $30,118.50. Following the transaction, the director now directly owns 13,329 shares of the company’s stock, valued at $1,745,432.55. The disclosure for this sale can be found here. Insiders have sold a total of 588,742 shares of company stock worth $22,455,363 over the last ninety days. Company insiders own 0.88% of the company’s stock.
Alphabet Stock Down 0.1 %
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, topping 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 analysts’ expectations of $60.24 billion. During the same period in the prior year, the business earned $1.21 EPS. As a group, equities analysts predict that Alphabet Inc. will post 5.64 EPS for the current year.
Analysts Set New Price Targets
A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company increased their target price on shares of Alphabet from $116.00 to $121.00 in a research report on Wednesday, July 26th. Morgan Stanley lifted their target price on shares of Alphabet from $150.00 to $155.00 in a research note on Wednesday, July 26th. Bank of America increased their price target on Alphabet from $142.00 to $146.00 in a research report on Wednesday, July 26th. UBS Group downgraded Alphabet from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $123.00 to $132.00 in a research report on Monday, June 26th. Finally, StockNews.com initiated coverage on Alphabet in a report on Thursday, May 18th. They set a “buy” rating on the stock. Four equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.19.
View Our Latest Analysis on GOOGL
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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