Hemington Wealth Management lowered its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 3.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,490 shares of the information services provider’s stock after selling 215 shares during the period. Hemington Wealth Management’s holdings in Alphabet were worth $673,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Live Oak Investment Partners acquired a new stake in Alphabet during the 4th quarter worth $26,000. Sanctuary Wealth Management L.L.C. bought a new stake in shares of Alphabet in the fourth quarter valued at about $34,000. Turim 21 Investimentos Ltda. acquired a new stake in shares of Alphabet in the third quarter valued at approximately $38,000. IAG Wealth Partners LLC grew its holdings 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 acquiring an additional 200 shares in the last quarter. Finally, AM Squared Ltd acquired a new stake in shares of Alphabet in the 4th quarter valued at approximately $44,000. 35.38% of the stock is currently owned by institutional investors.
Insider Transactions at Alphabet
In related news, Director Kavitark Ram Shriram sold 75,000 shares of the firm’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $120.01, for a total value of $9,000,750.00. Following the transaction, the director now directly owns 32,240 shares of the company’s stock, valued at approximately $3,869,122.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $125.65, for a total transaction of $25,130.00. Following the sale, the director now owns 5,740 shares in the company, valued at $721,231. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Kavitark Ram Shriram sold 75,000 shares of Alphabet stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $120.01, for a total value of $9,000,750.00. Following the completion of the sale, the director now directly owns 32,240 shares in the company, valued at $3,869,122.40. The disclosure for this sale can be found here. Insiders have sold 430,790 shares of company stock worth $20,443,054 in the last quarter. Company insiders own 0.88% of the company’s stock.
Alphabet Price Performance
Alphabet (NASDAQ:GOOGL – Get Free Report) last released its earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.12. The firm had revenue of $74.60 billion for the quarter, compared to the consensus estimate of $60.24 billion. Alphabet had a net margin of 21.05% and a return on equity of 23.49%. During the same period in the prior year, the firm earned $1.21 EPS. On average, research analysts forecast that Alphabet Inc. will post 5.67 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several analysts have issued reports on the company. Oppenheimer upped their price objective on Alphabet from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Wednesday, April 26th. Jefferies Financial Group raised their price objective on shares of Alphabet from $150.00 to $165.00 in a research report on Wednesday, July 26th. Stifel Nicolaus boosted their target price on shares of Alphabet from $130.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, July 21st. 51job reaffirmed a “downgrade” rating on shares of Alphabet in a research report on Tuesday, June 27th. Finally, Mizuho increased their target price on shares of Alphabet from $135.00 to $155.00 in a research report on Wednesday, July 26th. Four equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.19.
Check Out Our Latest Research Report on Alphabet
Alphabet Company 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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