Alaska Wealth Advisors purchased a new position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,070 shares of the information services provider’s stock, valued at approximately $111,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in GOOGL. Spreng Capital Management Inc. lifted its holdings in Alphabet by 4.0% in the 1st quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock valued at $364,000 after acquiring an additional 5 shares during the last quarter. West Family Investments Inc. lifted its holdings in Alphabet by 0.3% in the 1st quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock valued at $4,878,000 after acquiring an additional 6 shares during the last quarter. Maple Capital Management Inc. lifted its holdings in Alphabet by 2.1% in the 1st quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock valued at $823,000 after acquiring an additional 6 shares during the last quarter. Private Advisory Group LLC lifted its holdings in Alphabet by 1.8% in the 1st quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock valued at $1,115,000 after acquiring an additional 7 shares during the last quarter. Finally, Weik Capital Management lifted its holdings in Alphabet by 0.5% in the 1st quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock valued at $4,264,000 after acquiring an additional 8 shares during the last quarter. Institutional investors own 35.38% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on the stock. Credit Suisse Group upped their price target on shares of Alphabet from $135.00 to $150.00 and gave the company an “outperform” rating in a report on Monday, July 17th. Wells Fargo & Company boosted their price objective on Alphabet from $116.00 to $121.00 in a report on Wednesday, July 26th. StockNews.com began coverage on Alphabet in a report on Thursday, August 17th. They set a “buy” rating on the stock. Evercore ISI boosted their price objective on Alphabet from $130.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, July 26th. Finally, Truist Financial boosted their price objective on Alphabet from $122.00 to $160.00 in a report on Wednesday, July 26th. Four equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $142.61.
Insider Transactions at Alphabet
In other news, SVP Prabhakar Raghavan sold 16,083 shares of the business’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $120.31, for a total transaction of $1,934,945.73. Following the transaction, the senior vice president now owns 127,028 shares in the company, valued at approximately $15,282,738.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, major shareholder 2019 Gp L.L.C. Gv sold 7,900 shares of the company’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $13.66, for a total value of $107,914.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Prabhakar Raghavan sold 16,083 shares of the company’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $120.31, for a total transaction of $1,934,945.73. Following the completion of the sale, the senior vice president now directly owns 127,028 shares in the company, valued at approximately $15,282,738.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 188,856 shares of company stock worth $9,031,034. 0.88% of the stock is currently owned by company insiders.
Alphabet Stock Up 0.7 %
Alphabet stock opened at $128.37 on Tuesday. The firm has a market cap of $1.62 trillion, a price-to-earnings ratio of 27.20, a P/E/G ratio of 1.47 and a beta of 1.06. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.17 and a quick ratio of 2.14. Alphabet Inc. has a fifty-two week low of $83.34 and a fifty-two week high of $133.74. The firm has a fifty day moving average price of $124.59 and a two-hundred day moving average price of $112.61.
Alphabet (NASDAQ:GOOGL – Get Free Report) last posted its quarterly earnings data 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 company had revenue of $74.60 billion for the quarter, compared to the consensus estimate of $60.24 billion. During the same quarter in the previous year, the firm posted $1.21 EPS. As a group, analysts forecast that Alphabet Inc. will post 5.67 earnings per share for the current year.
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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