Front Barnett Associates LLC increased its stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 0.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 355,514 shares of the information services provider’s stock after purchasing an additional 1,072 shares during the period. Alphabet accounts for 4.3% of Front Barnett Associates LLC’s portfolio, making the stock its 3rd largest holding. Front Barnett Associates LLC’s holdings in Alphabet were worth $36,877,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently bought and sold shares of the company. Live Oak Investment Partners bought a new position in Alphabet during the fourth quarter worth about $26,000. Sanctuary Wealth Management L.L.C. acquired a new stake in shares of Alphabet in the 4th quarter valued at approximately $34,000. Turim 21 Investimentos Ltda. bought a new position in Alphabet during the 3rd quarter worth approximately $38,000. IAG Wealth Partners LLC raised its holdings in Alphabet by 100.0% in the first quarter. IAG Wealth Partners LLC now owns 400 shares of the information services provider’s stock worth $41,000 after purchasing an additional 200 shares during the period. Finally, AM Squared Ltd bought a new position in shares of Alphabet during the fourth quarter worth $44,000. Institutional investors and hedge funds own 35.38% of the company’s stock.
Analysts Set New Price Targets
Several analysts recently commented on the company. Citigroup raised their price objective on Alphabet from $130.00 to $153.00 in a research note on Wednesday, July 26th. Wolfe Research raised their price objective on shares of Alphabet from $130.00 to $140.00 in a report on Monday, July 10th. JPMorgan Chase & Co. upped their target price on shares of Alphabet from $121.00 to $150.00 in a research note on Wednesday, July 26th. Tigress Financial lifted their price target on Alphabet from $160.00 to $172.00 and gave the company a “strong-buy” rating in a research note on Friday, July 14th. Finally, TD Cowen raised their price target on shares of Alphabet from $130.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, July 13th. 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’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $142.19.
Alphabet Trading Down 1.2 %
GOOGL opened at $129.78 on Wednesday. The company has a market cap of $1.64 trillion, a P/E ratio of 27.50, a PEG ratio of 1.49 and a beta of 1.06. The company has a current ratio of 2.17, a quick ratio of 2.14 and a debt-to-equity ratio of 0.05. The company’s 50 day moving average is $124.11 and its 200-day moving average is $111.84. 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 announced its quarterly earnings results on Tuesday, July 25th. The information services provider reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.12. The company had revenue of $74.60 billion during the quarter, compared to analysts’ expectations of $60.24 billion. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. During the same period in the prior year, the company earned $1.21 EPS. Equities research analysts predict that Alphabet Inc. will post 5.67 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, major shareholder 2019 Gp L.L.C. Gv sold 16,633 shares of Alphabet stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $13.65, for a total value of $227,040.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Alphabet news, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $125.00, for a total value of $100,000.00. Following the sale, the director now directly owns 5,940 shares in the company, valued at $742,500. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 16,633 shares of the company’s stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $13.65, for a total transaction of $227,040.45. The disclosure for this sale can be found here. Insiders sold a total of 340,790 shares of company stock valued at $11,250,754 in the last three months. Insiders own 0.88% of the company’s stock.
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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