Investment House LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 1.6% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 364,547 shares of the information services provider’s stock after acquiring an additional 5,838 shares during the quarter. Alphabet comprises about 3.1% of Investment House LLC’s portfolio, making the stock its 4th biggest holding. Investment House LLC’s holdings in Alphabet were worth $37,814,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently modified their holdings of GOOGL. Live Oak Investment Partners bought a new stake in shares of Alphabet during the 4th quarter valued at $26,000. Sanctuary Wealth Management L.L.C. bought a new stake in shares of Alphabet during the 4th quarter valued at $34,000. Turim 21 Investimentos Ltda. bought a new stake in shares of Alphabet during the 3rd quarter valued at $38,000. IAG Wealth Partners LLC lifted its position in shares of Alphabet by 100.0% during 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 during the period. Finally, AM Squared Ltd acquired a new position in shares of Alphabet during the 4th quarter worth $44,000. 35.38% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of research firms have recently commented on GOOGL. Evercore ISI boosted their price target on Alphabet from $130.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, July 26th. Credit Suisse Group boosted their price target on Alphabet from $135.00 to $150.00 and gave the stock an “outperform” rating in a report on Monday, July 17th. Wolfe Research boosted their price target on Alphabet from $130.00 to $140.00 in a report on Monday, July 10th. The Goldman Sachs Group boosted their price target on Alphabet from $132.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, July 17th. Finally, StockNews.com initiated coverage on Alphabet in a report on Thursday. They set a “buy” rating for the company. Four investment analysts have rated the stock with a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $142.61.
Insiders Place Their Bets
In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 7,900 shares of the stock in a transaction that occurred 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 document filed with the SEC, which is available at this hyperlink. In other Alphabet news, Director Frances Arnold sold 950 shares of the stock in a transaction that occurred 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 transaction, the director now owns 13,040 shares in the company, valued at $1,633,260. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 7,900 shares of the stock in a transaction that occurred on 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. Over the last quarter, insiders have sold 188,856 shares of company stock worth $9,031,034. Corporate insiders own 0.88% of the company’s stock.
Alphabet Stock Down 1.9 %
Shares of 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 current ratio of 2.17 and a quick ratio of 2.14. The stock’s 50-day moving average is $124.49 and its 200 day moving average is $112.47. The firm has a market cap of $1.61 trillion, a price-to-earnings ratio of 27.00, a PEG ratio of 1.47 and a beta of 1.06.
Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its earnings results on Tuesday, July 25th. The information services provider reported $1.44 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $60.24 billion. During the same quarter in the prior year, the company earned $1.21 EPS. Equities research analysts anticipate that Alphabet Inc. will post 5.67 EPS for the current year.
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.
Read More
- Five stocks we like better than Alphabet
- What Is Dividend Yield and How Do You Calculate It?
- MarketBeat Week in Review – 8/14 – 8/18
- 3 Stocks to Protect Your Portfolio from the Coronavirus Contagion
- 8 Best Artificial Intelligence Stocks Under $10
- Want to Profit on the Downtrend? Downtrends, Explained.
- What Ross Stores Earnings Say About The Saver Shopping Economy
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.
