Tranquility Partners LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 2.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,907 shares of the information services provider’s stock after purchasing an additional 517 shares during the period. Alphabet accounts for approximately 1.0% of Tranquility Partners LLC’s holdings, making the stock its 23rd largest holding. Tranquility Partners LLC’s holdings in Alphabet were worth $2,169,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of the business. Bornite Capital Management LP bought a new position in shares of Alphabet in the 1st quarter valued at about $16,688,000. Markel Corp boosted its stake in Alphabet by 17.0% in the first quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock valued at $43,110,000 after acquiring an additional 2,250 shares during the last quarter. United Bank grew its holdings in Alphabet by 5.9% during the 1st quarter. United Bank now owns 2,033 shares of the information services provider’s stock worth $5,654,000 after acquiring an additional 113 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Alphabet by 23.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock valued at $900,929,000 after acquiring an additional 61,427 shares during the last quarter. Finally, Dakota Wealth Management grew its stake in shares of Alphabet by 20.4% during the first quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock worth $25,806,000 after purchasing an additional 1,570 shares during the period. Institutional investors own 35.38% of the company’s stock.
Insider Activity
In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 63,212 shares of the business’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $13.88, for a total transaction of $877,382.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Ann Mather sold 9,540 shares of the business’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $125.33, for a total transaction of $1,195,648.20. Following the sale, the director now owns 2,800 shares in the company, valued at approximately $350,924. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 63,212 shares of the stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $13.88, for a total value of $877,382.56. The disclosure for this sale can be found here. In the last quarter, insiders have sold 340,790 shares of company stock worth $11,250,754. Insiders own 0.88% of the company’s stock.
Alphabet Trading Down 1.2 %
Alphabet (NASDAQ:GOOGL – Get Free Report) last posted its quarterly earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share (EPS) for the quarter, topping 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 business had revenue of $74.60 billion for the quarter, compared to analyst estimates of $60.24 billion. During the same quarter last year, the business posted $1.21 EPS. Analysts predict that Alphabet Inc. will post 5.67 EPS for the current fiscal year.
Analyst Ratings Changes
A number of analysts recently weighed in on GOOGL shares. Roth Mkm increased their price target on shares of Alphabet from $126.00 to $134.00 and gave the company a “buy” rating in a research report on Wednesday, April 26th. Wolfe Research lifted their price target on shares of Alphabet from $130.00 to $140.00 in a research report on Monday, July 10th. Tigress Financial boosted their price target on shares of Alphabet from $160.00 to $172.00 and gave the company a “strong-buy” rating in a report on Friday, July 14th. Citigroup lifted their target price on Alphabet from $130.00 to $153.00 in a report on Wednesday, July 26th. Finally, Truist Financial boosted their price objective on Alphabet from $122.00 to $160.00 in a research report on Wednesday, July 26th. Four analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $142.19.
View Our Latest Report on Alphabet
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.
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