Cutter & CO Brokerage Inc. lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 27.8% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,597 shares of the information services provider’s stock after purchasing an additional 1,870 shares during the quarter. Cutter & CO Brokerage Inc.’s holdings in Alphabet were worth $892,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. Live Oak Investment Partners acquired a new stake in shares of Alphabet during the fourth quarter worth about $26,000. Sanctuary Wealth Management L.L.C. purchased a new stake in shares of Alphabet during the fourth quarter worth approximately $34,000. Turim 21 Investimentos Ltda. purchased a new stake in shares of Alphabet during the third quarter worth approximately $38,000. IAG Wealth Partners LLC increased its stake in shares of Alphabet by 100.0% during the first quarter. IAG Wealth Partners LLC now owns 400 shares of the information services provider’s stock worth $41,000 after buying an additional 200 shares during the period. Finally, AM Squared Ltd purchased a new stake in shares of Alphabet during the fourth quarter worth approximately $44,000. Institutional investors and hedge funds own 35.38% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on the stock. 888 restated a “downgrade” rating on shares of Alphabet in a research note on Monday, June 26th. KeyCorp upped their target price on shares of Alphabet from $140.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 26th. Barclays upped their target price on shares of Alphabet from $160.00 to $200.00 in a research note on Wednesday, July 26th. 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 note on Wednesday, April 26th. Finally, StockNews.com assumed coverage on shares of Alphabet in a research note on Thursday. They issued a “buy” rating on the stock. Four research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $142.61.
Insider Activity
In other news, major shareholder 2019 Gp L.L.C. Gv sold 7,900 shares of the firm’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $13.66, for a total value of $107,914.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Kavitark Ram Shriram sold 31,240 shares of the firm’s stock in a transaction on Monday, July 10th. The stock was sold at an average price of $116.82, for a total value of $3,649,456.80. Following the completion of the transaction, the director now owns 5,364 shares in the company, valued at $626,622.48. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 7,900 shares of Alphabet stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $13.66, for a total value of $107,914.00. The disclosure for this sale can be found here. Insiders sold a total of 188,856 shares of company stock worth $9,031,034 over the last 90 days. 0.88% of the stock is currently owned by corporate insiders.
Alphabet Price Performance
Alphabet stock opened at $127.46 on Monday. Alphabet Inc. has a one year low of $83.34 and a one year high of $133.74. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.14 and a current ratio of 2.17. The business has a fifty day moving average of $124.49 and a two-hundred day moving average of $112.47. The company has a market cap of $1.61 trillion, a P/E ratio of 27.00, a price-to-earnings-growth ratio of 1.47 and a beta of 1.06.
Alphabet (NASDAQ:GOOGL – Get Free Report) last released its 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. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. The company had revenue of $74.60 billion during the quarter, compared to the consensus estimate of $60.24 billion. During the same quarter last year, the company earned $1.21 earnings per share. As a group, analysts predict that Alphabet Inc. will post 5.67 earnings per share for the current fiscal year.
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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