M. Kulyk & Associates LLC grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 7.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 72,859 shares of the information services provider’s stock after acquiring an additional 5,287 shares during the quarter. Alphabet comprises 2.3% of M. Kulyk & Associates LLC’s portfolio, making the stock its 10th biggest position. M. Kulyk & Associates LLC’s holdings in Alphabet were worth $7,558,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. DC Investments Management LLC acquired a new stake in shares of Alphabet in the first quarter valued at about $114,000. Bridgefront Capital LLC acquired a new stake in shares of Alphabet in the first quarter valued at about $225,000. Worth Asset Management LLC acquired a new stake in shares of Alphabet in the first quarter valued at about $206,000. Eudaimonia Advisors LLC grew its stake in shares of Alphabet by 15.1% in the first quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock valued at $275,000 after buying an additional 13 shares in the last quarter. Finally, Aspire Capital Advisors LLC acquired a new stake in shares of Alphabet in the first quarter valued at about $281,000. 35.38% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Alphabet
In other Alphabet news, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction on Friday, May 19th. The stock was sold at an average price of $125.00, for a total transaction of $100,000.00. Following the sale, the director now owns 5,940 shares of the company’s stock, valued at approximately $742,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other 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 owns 5,940 shares of the company’s stock, valued at approximately $742,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frances Arnold sold 950 shares of the business’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $125.25, for a total value of $118,987.50. Following the completion of the sale, the director now directly owns 13,040 shares in the company, valued at approximately $1,633,260. The disclosure for this sale can be found here. Insiders have sold 340,790 shares of company stock valued at $11,250,754 in the last quarter. Corporate insiders own 0.88% of the company’s stock.
Alphabet Stock Down 1.2 %
Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 23.49% and a net margin of 21.05%. During the same quarter in the previous year, the business earned $1.21 EPS. As a group, research analysts forecast that Alphabet Inc. will post 5.67 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on the company. Royal Bank of Canada increased their target price on Alphabet from $145.00 to $155.00 in a research note on Wednesday, July 26th. Robert W. Baird raised their price objective on Alphabet from $123.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, July 21st. KeyCorp raised their price objective on Alphabet from $140.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, July 26th. TD Cowen raised their price objective on Alphabet from $130.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, July 13th. Finally, The Goldman Sachs Group raised their price objective on Alphabet from $132.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, July 17th. Four equities 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 stock. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $142.19.
Read Our Latest Stock Analysis on Alphabet
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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